Suburb Profile Report for Old Beach TAS (7017)

Old Beach House: Median price $450,000, Annual capital growth 3.54%, Number of sales 75, Weekly median advertised rent $420

Old Beach Unit: Median price $355,000, Annual capital growth 3.19%, Number of sales 15, Weekly median advertised rent $378

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
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Property value increases in Old Beach have tracked just lower than the TAS average of 7.30% over the last 12 months.

Comparing Old Beach,7017 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Sellers are offering property buyers an average discount of -5.45% to buyers in Old Beach at the moment, which is less than average for the rest of TAS.

Advertised rents are around the $420 mark per week – giving a return of 4.85% based on the median price in Suburb

TAS has seen average median house prices change by 2.66% which means that Old Beach, 7017 has done well for property investors by showing a capital gain of 10.94% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Old Beach comes in at number 27th in TAS.

With the median price for a house in Old Beach being $355000 and the advertised rent reaching $377.5 the gross rental yield for property investors calculates out to be 5.53%

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
$450,000 $355,000
0.11% -1.39%
3.87% 10.94%
3.54% 3.19%
$420 $378
75 15
4.85% 5.53%
30.05 14.5

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Very good (U)
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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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