Best Suburbs To Invest In Tasmania – Located just 15km from Hobart, Claremont has been named Australia’s most sought-after suburb for rental deals. Image: Roger Lovell
The latest rental listings in Claremont, Glenorchy and Kingston are more visible than anywhere else in the country.
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Figures for the six months to 31 December 2018 showed Claremont rental listings attracted almost 5,000 views, with Glenorchy listings not far behind with 4,836.
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Of the top 10 suburbs, Claremont also had the lowest average weekly rent – on par with Belmont in Victoria – at $360 a week.
Chief Economist Nerida Conisby said while the number of viewings to the Hobart exchange had fallen slightly over the past 12 months, the data still showed demand in Hobart was much higher than in most of Australia.
“Sandy Bay is one of the most expensive suburbs in Hobart and is seeing much higher rental demand than most of Australia, although at the top of the list was Claremont, which is much more affordable,” he said.
“This is good news for those who own investment properties in Hobart, but it is challenging for tenants with fewer options available as well as rising rents.
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“Rental demand is being driven by job growth, population levels, as well as relatively low levels of new development.”
Real Estate Institute president Tony Collidge said the proportion of rental properties in Claremont and Glenorchy was growing. He said rents in these areas were much more affordable than in inner Hobart and tended to attract more interest.
“A shortage of rental properties and rising rents have pushed many tenants – who would previously have looked closer to the city – out of areas like Glenorchy and Claremont,” he said.
Mr Collidge said he would continue to consider the proximity to the city and the appeal of Sandy Bay as one of the “want to live” areas in Hobart.
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“Sandy Bay is a prime and sought-after location and demand for rental accommodation in this suburb will always be high,” he said.
Yesterday, there were just six listings in Claremont for homes priced between $345 and $455 per week.
Glenorchy had eight houses ($380-$480 per week), along with nine in Kingston ($330-$650) and 13 in Sandy Bay ($430-$1000).
The Sunday Tasmanian reported this week that rental prices in Hobart have risen by almost 20 per cent over the past year – from an average of $358 to $425.
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Mr Colledge this week estimated it would take four or five years for the state’s rental supply to meet demand, with Hobart short of about 5000 properties.
Local estate agents say Hobart’s high rental yields are now attracting the attention of national investors, including some mainland buyers who are buying homes here over the phone.
Labour’s housing spokesman Josh Willey hit out at the Hodgman government for “failing to enforce regulations, enforce compliance and capture data to monitor impact” – and allowing the growth of short-term rental accommodation providers accused of contributing to tensions.
Health Minister Michael Ferguson said this week the Government recognized there was a “challenge” in housing, and Housing Minister Roger Jansch said on Monday Hobart City Council needed to do more to help. The most affordable liveable suburbs in Greater Hobart. As revealed by the latest report from the PRDnationwide research team.
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Its affordable and liveable property guide for the second half of 2018 lists Kingston and Lindisfarne as the top six suburbs – for houses and units – alongside Gelston Bay houses and Bellerive units in the southern capital.
Diaswati Mardiasmo, PRD national research manager, said the suburbs were selected based on property prices, future growth potential and lifestyle benefits.
To make this list, a suburb must see reasonably affordable average prices, a strong investment market and a high level of project development.
They should also have lifestyle characteristics such as below average crime rates, easy access to schools, parks, shops, transport and health facilities as well as low unemployment rates.
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It has one of the lowest crime rates, a stable median unit price over the year and strong median house price growth of 17.5 percent since 2017.
The report said the suburb has “healthy rental demand” for homes with a low vacancy rate of 0.6 per cent and a rental yield of 4.1 per cent.
Millions of dollars of commercial and residential development in Kingston will “further improve livability and boost economic activity in the area,” the report said.
In the housing market, the report revealed Lindisfarne as a suburb that “ticked all the right boxes” for liveability and was set for sustainable economic growth into the future.
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The report found that between January 1 and September 30, Clarendon Vale ($211,250 median), Rokeby ($281,000) and Warren ($305,000) were Greater Hobart’s most affordable suburbs.
In the same time frame, the highest priced suburbs were Battery Point ($1.25 million), Sandy Bay ($889,000) and Diniran ($732,500).
The report singled out Sandy Bay, Claremont and Bellerive homes as top performers, achieving high prices and strong growth.
Dr Mardiasmo said looking at the changes from the first to the second half of the year, there were indications that the Greater Hobart market had “returned to a sustainable level of price growth”.
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He said it was great news for first home buyers who may have been priced out of the market in the past 12 months.
“The suburban median price had to be raised above the Hobart metro median price to ensure the livability aspects were met,” Dr Mardiasmo said.
“This only happened in Hobart, which suggests a strong need to develop a strategy that addresses aspects of liveability in the more affordable areas of Hobart.” GLENORCHY was southern Tasmania’s busiest suburb for most of last year, recording almost 200 home sales in a 12-month period, according to choreography data.
In its final market trends report for 2018 – looking at the 12 months to the end of September last year – CoreLogic data showed this north suburban center saw 196 sales at a median price of $351,000, up 14 per cent. Last 12 months.
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In the south, median prices ranged from $278,000 to $907,500, with homes selling in the 150 to 156 range in Sandy Bay and Kingston and North Ulverstone and Riverside.
Devonport led the state with 320 sales this year averaging $259,000 and up 8.6 percent.
The largest positive change in median home price was 44 percent with 10 sales in Fern Tree. Its median price was $576,000.
The other top performers were Maidena in the Derwent Valley with a 43.6% change, 21 sales and a median price of $200,000, followed by Launceston Underwood at $407,500 and a 42.5% increase with 10 sales.
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South Hobart was the best in the south of the state with a 40.2 per cent change in median units, 25 sales and a median of $500,000.
Local agents anecdotally reported that sales of real estate at the end of 2018 took slightly longer than at the beginning of the year.
This can be seen in the number of suburbs recording “days on market”, which used to be around 20 or 30 but has now dropped to 12.
Along with Subiaco in Western Australia, each of these suburbs had the fastest sales results in Australia – six to eight days before sale on average – and each suburb was in Greater Hobart. HOBART housing has been a great investment for families over the past 30 years. With a new national report shedding light on how high prices have risen.
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A joint study by mortgage brokers Aussie Home Loans and CoreLogic has revealed that Hobart home values have increased by 326 per cent – from $120,980 in 1990 to $514,864 at the end of 2020.
The last decade has been particularly strong for Hobart, with housing values up 44.5 per cent in the 10 years to December 2020. In Sydney alone, prices rose by 63.8 per cent over the period.
Between 2000 and 2010, Hobart’s values increased by 145.2 per cent, driven by a spike around 2003. Hobart set the pace nationally during this time with the highest capital city growth of the decade.
But the report found Hobart’s market was more volatile than many other capital cities, going through periods of “unprecedented capital gains” but also six periods of decline in value.
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Home value growth: Battery Point’s median home price increased from $142,038 to $1,119,624 over 30 years. Photo: Eddie Šafařík
Aussie CEO James Symonds described the Aussie house as “the winning asset class of the last 30 years”.
The study shows the properties were excellent, he said, with the value of houses and apartments increasing over the years and providing large capital gains to long-term owner-occupiers.
“There is very strong evidence that there is a high level of equity in owner-occupied properties,” Mr Symonds said.
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“It creates wealth for owners while giving them the flexibility to invest and provide protection against them
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