Suburb Profile Report for Old Beach TAS (7017)

Old Beach House: Median price $600,501, Annual capital growth 6.08%, Number of sales 60, Weekly median advertised rent $480

Old Beach Unit: Median price $415,000, Annual capital growth 5.23%, Number of sales 23, Weekly median advertised rent $420

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Property value increases in Old Beach have tracked just higher than the TAS average of 18.88% over the last 12 months.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Old Beach has increased when compared to the 5 year average annual rate.

Old Beach is 79th on a list of best yielding suburbs for rents in TAS with a 4.16% return

Investment property in Old Beach has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 22.06%

Old Beach,7017 was ranked 172 in Australia by increase in median property value over the quarter.

Renters in Suburb are facing rents around $21840 per annum or $420 every week.

Information supplied by:


June 2018

M
O

W
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Housing stock plummets in Hobart suburb

Postcode: 7017

Median house price: $400,000

Stock on market: -59.6%

12-month growth: 3.9%

Housing supply in the suburb of Old Beach nosedives by nearly 50% in the 12 months leading up to March 2018.

The number of houses on the market went from 51 in March 2017 to just 18 one year later. As a suburb of Hobart, Old Beach seems to be following the city’s overall trend of tightening supply – a strategy that has been paying off given the consistent pattern of growth reported since 2013. Even then, houses remain affordable at a median price of $400,000.

Houses stay on the market for less than 60 days; although this doesn’t indicated an incredibly strong level of demand, it is relatively balanced. In addition, rental returns for investors are high at 5.1%.

Old Beach is situated next to the Derwent River. It is also just 7km from the Baskerville Raceway.

Metrics i HOUSE UNIT
$600,501 $415,000
11.72% 9.93%
23.18% 22.06%
6.08% 5.23%
$480 $420
60 23
4.16% 5.26%
15.7777777777778 29.0625

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (U), Very good (H)
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Demographics
Total population 3169
Median household income ($/weekly) 1489
Median age of persons 39
Median housing loan repayment ($/monthly) 1517
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 454 14.3
    25-34 years 370 11.7
    35-44 years 506 16.0
    45-54 years 520 16.4
    55-64 years 395 12.5
    Others 923 29.1
    Age Group
    Census Count Percent(%)
    Registered Married 1302 57.6
    Not Married 630 27.9
    Defacto Relationship 328 14.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 2765 90.1
    Greece 16 0.5
    Papua New Guinea 39 1.3
    United Kingdom 128 4.2
    Other 27 0.9
    Others 95 3.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 21 0.7
    Christianity 2183 74.8
    Hinduism 3 0.1
    Islam 6 0.2
    No Religion 703 24.1
    Others 3 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 108 11.0
    $1,000-$1,249 88 9.0
    $1,250-$1,499 95 9.7
    $1,500-$1,999 180 18.3
    $2,000-$2,499 156 15.9
    Others 356 36.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1099 44.9
    Not in the labour force 687 28.1
    Employed, worked part-time 512 20.9
    Employed, away from work 98 4.0
    Unemployed, looking for work 53 2.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 206 12.0
    Professionals 213 12.4
    Technicians & trades workers 268 15.6
    Community & personal service workers 207 12.1
    Clerical & administrative workers 342 20.0
    Others 478 27.9
    Occupation
    Census Count Percent(%)
    Pre-school 27 3.6
    Infants/Primary 323 43.6
    Secondary 213 28.8
    Technical or Further Educational Institution 100 13.5
    University or other Tertiary Institutions 62 8.4
    Others 15 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2864 97.0
    Flat, unit or apartment 62 2.1
    Semi-detached, row or terrace house, townhouse 23 0.8
    Caravan, cabin, houseboat 4 0.1
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 632 58.8
    Fully owned 308 28.7
    Rented 131 12.2
    Other tenure type 3 0.3
    Tenure Type
Census 2011, ABS
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