Demand levels are sky high in Tasmanian suburbs of Battery Point and South Hobart
BATTERY Point and South Hobart were named among the 10 most in-demand property markets in Australia in the latest report.
The Property Outlook January 2019 revealed Battery Point was the No.2 suburb in the nation.
And it was just 135 clicks per listing behind chart-topping Middle Park, Victoria.
Battery Point properties attracted 5923 views per listing last year while sixth-placed South Hobart clocked in at 5460.
TASMANIA’S BEST PERFORMING SUBURBS REVEALED
Hobart led the capital cities on three fronts including recording the highest percentage of median price change year-on-year at 8.4 per cent, well ahead of second-placed Canberra at 1.4 per cent.
The report also found Hobart listings were viewed 2331 times, with the next best results in Melbourne, which recorded about 950 less views per listing.
HOBART SUBURBS SELLING LIKE HOT CAKES
In the October to December quarter, data showed that Hobart was ahead, albeit neck and neck with Adelaide, for the best quarter-on-quarter median price percentage of change with 0.7 per cent and 0.6 per cent respectively.
She said while there were some “concerning signs” around rental demand, it did not dent buyer activity.
LOSS-MAKING SALES SHRINK FURTHER
“Two of the most in-demand suburbs in Australia are in Hobart [Battery Point and South Hobart] and the suburb that is moving quickest up our most popular list is Carlton,” she said.
“In 2017 Margate was the quickest moving suburb and it saw price growth of over 18 per cent in 2018 — double that for Hobart — which may suggest that Carlton too will outperform the market.”
Real Estate Institute of Tasmania president Tony Collidge said he was not surprised to hear of Carlton’s upward trajectory as it is a popular beach and river frontage suburb that offers a good mixture of residential and small acreage properties.
TASWEEKEND: TO THE MANOR BORN IN HISTORIC PROPERTY
“With regard to Battery Point, there are only a handful of sales in that area each year,” he said.
“Its historical significance and closeness to the city ensures it has our most expensive residential real estate, but I think the emergence of Sandy Bay as a million-dollar suburb really defines the growth in our market.”
Mr Collidge said he was expecting an “interesting six months” for the local property market.
“Buyers and sellers will position themselves for the outcome of the federal election and the financial services royal commission,” he said.
Mr Collidge is concerned that Tasmania, and Hobart in particular, has the “most to lose” with the introduction of the proposed negative gearing legislation at the election.
He sees the Hobart City Council as “anti-development, particularly when it comes to inner-city apartment living”.
“There have been and will remain limited opportunities for inner city growth unless the planning approval process is removed from council,” he said.
The Property Outlook report analysed more than 80 million property searches.
It found Lindisfarne, Sandy Bay and Bellerive were among the most in-demand Tasmanian housing markets while Sandy Bay, Hobart and West Hobart were popular for those hunting for units.
The Property Outlook January 2019 revealed Battery Point was the No.2 suburb in the nation.
And it was just 135 clicks per listing behind chart-topping Middle Park, Victoria.
Battery Point properties attracted 5923 views per listing last year while sixth-placed South Hobart clocked in at 5460.
TASMANIA’S BEST PERFORMING SUBURBS REVEALED
Hobart led the capital cities on three fronts including recording the highest percentage of median price change year-on-year at 8.4 per cent, well ahead of second-placed Canberra at 1.4 per cent.
The report also found Hobart listings were viewed 2331 times, with the next best results in Melbourne, which recorded about 950 less views per listing.
HOBART SUBURBS SELLING LIKE HOT CAKES
In the October to December quarter, data showed that Hobart was ahead, albeit neck and neck with Adelaide, for the best quarter-on-quarter median price percentage of change with 0.7 per cent and 0.6 per cent respectively.
She said while there were some “concerning signs” around rental demand, it did not dent buyer activity.
LOSS-MAKING SALES SHRINK FURTHER
“Two of the most in-demand suburbs in Australia are in Hobart [Battery Point and South Hobart] and the suburb that is moving quickest up our most popular list is Carlton,” she said.
“In 2017 Margate was the quickest moving suburb and it saw price growth of over 18 per cent in 2018 — double that for Hobart — which may suggest that Carlton too will outperform the market.”
Real Estate Institute of Tasmania president Tony Collidge said he was not surprised to hear of Carlton’s upward trajectory as it is a popular beach and river frontage suburb that offers a good mixture of residential and small acreage properties.
TASWEEKEND: TO THE MANOR BORN IN HISTORIC PROPERTY
“With regard to Battery Point, there are only a handful of sales in that area each year,” he said.
“Its historical significance and closeness to the city ensures it has our most expensive residential real estate, but I think the emergence of Sandy Bay as a million-dollar suburb really defines the growth in our market.”
Mr Collidge said he was expecting an “interesting six months” for the local property market.
“Buyers and sellers will position themselves for the outcome of the federal election and the financial services royal commission,” he said.
Mr Collidge is concerned that Tasmania, and Hobart in particular, has the “most to lose” with the introduction of the proposed negative gearing legislation at the election.
He sees the Hobart City Council as “anti-development, particularly when it comes to inner-city apartment living”.
“There have been and will remain limited opportunities for inner city growth unless the planning approval process is removed from council,” he said.
The Property Outlook report analysed more than 80 million property searches.
It found Lindisfarne, Sandy Bay and Bellerive were among the most in-demand Tasmanian housing markets while Sandy Bay, Hobart and West Hobart were popular for those hunting for units.
Demand levels are sky high in Tasmanian suburbs of Battery Point and South Hobart
Reviewed by Justenterin
on
January 13, 2019
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Reviewed by Justenterin
on
January 13, 2019
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