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Hobart
AREA REPORTS

Hobart

Hobart - SUBURB PROFILE REPORT
POSTAL CODE: TAS, 7000

house
unit
HOBART ranks 103rd in TAS when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of 27.39% for the past year is higher than average compared to its 63.8% growth within a five-year period.

Also in HOBART, the median home price is sitting at $1,000,000, and the average rent at $555, this suggests property owners could potentially earn a 2.89% increase in gross rental yield.

Property investors have seen a 2.04% gain in HOBART based on an increase in median home prices for the past three months.

They believe that homeowners and real estate investors betting on HOBART, 7000 can rest assured about this TAS suburb's performance. The suburb saw median home prices rise by 27.39%.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 11.48% growth over a ten-year period. It ranks 359th on our list of suburbs that property investors should look into.

Surburb overview

The city of Hobart is one real estate hotspot that offers the best value for first time and seasoned investors keen on purchasing a vacation home or property to rent out. Hobart real estate is booming, especially in West Hobart, where the average home price continues to move upwards and hover just a little above the $600,000 mark. In Hobart itself, the median prices of homes have climbed by 9 per cent, while unit prices have gone up by 3.18 per cent. Rental yield for houses also increased by 4.48 per cent, and units by 5.28 per cent in the past 12 months.

Things to do in Hobart

With a stunning coast perfect for sailing and swimming, Hobart is a top destination for sun-loving mainlanders during the summer; one much-awaited event include the Sydney to Hobart Yacht Race. But the suburb has a lot more to offer to tourists and real estate owners all year round, even when the Hobart weather is colder than usual. During the winter solstice, travellers and residents can indulge in music and art at the Dark Mofo festival. They can also join a cycling tour of Mount Wellington, whose commanding view can be seen from any point in the city.

Those looking for a laid-back way to while away the time meanwhile can head over to the Hobart Village Cinema or Theatre Royal. Hobart restaurants have also upped the ante in recent years, making them a must-visit for seasonal and local gastronomic delights.

Data report can be found below

Hobart
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,000,000 $865,000
GROWTH REPORT
Median Quarterly 2.04% 10.4%
Median 12 month 27.39% 33.08%
Median 3 years 48.04% 35.95%
Median 5 years 63.8% 80.21%
10 years average annual 11.48% 5.9%
Weekly media advert. rent $555 $500
Time on Market 37.7 days 18.8 days
Gross Rental Yield Percent 2.89% 3.01%
demographics (median values)*
Total Population
13837
Weekly Household Income
1450
Household Size
2.20
Age
37
Monthly Loan Repayment
1733
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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