Hobart ex-Houso

Hey guys,

What's the general consensus on Hobart's rougher suburbs like Rokeby, Clarendon Vale, Bridgewater, Gagebrook etc.

Understand they're ex-houso and Ive read in the Hobart thread that a few here wouldnt touch them, but I'm wondering how rough can they be?

Eg Clarendon Vale, 10kms from Hobart city, $135k buy, $230/week rent, sub 1% vacancy, relatively low hold cost (water, council, insurance)... am I missing something?

Can anyone share experiences with owning in these areas?

 

Think burnt out houses and street numbers spray painted on the house. Sheets hung in windows instead of curtains.

It's nice. The people there are great.

 

I own in Clarendon Vale. Go and have a look and a drive around, it is not as bad as ppl make out.

Whenever I travel interstate I like to walk around all the so called rough areas about 10-11pm on a sat night just to see what they are really like. Clarendon Vale is tame compared to other areas around australia i have been. I also had a good walk around from 4 to 5pm and it was like a ghost town, i hardly saw anyone, just lots of kids bikes on front lawns unchained.

There are two new housing estates either side of Clarendon Vale. The North estate is more expensive with most houses high 3's to $450k. The South one is a bit cheaper most are 300 to low 4's.

How long will it take for gentrification ? I am not sure but if you look at this area 6-7 years ago you will see a huge difference....

Certain streets are better/worse in Clarendon Vale which will also show up in the listing price. You would be better of buying around 160-170k, than a cheapie for 140k. Houses are bomb proof, ive hardly spent anything on mine in 7 years.

Usually in Clarendon Vale, there are only usually 8 to 12 houses sold each year. 10 have already been sold this year and we are only half way through....

I would rank Rokeby/Clarendon Vale over Bridgewater/Gagebrook.

I have been lucky having the same tenant for 7 years, her centrelink payment goes straight into my account

 

Lucky you!

 

There is a reason they don't cost much... So many trashed yards, boarded up windows, burnt out houses... also higher crime rates. It isn't terrible or super dangerous. .. but it is unpleasant.

Centrelink is a reliable source of income... but you are not talking about classy tenants. Don't expect CG though.

 

Have you managed to make any CG though? And what sort of yield are you seeing?

Noted - i'll make sure to insure the place for a fair chunk more than the purchase price

 

I work in the Rokeby/Clarendon Vale area and personally wouldn't touch it. Yep, cheap prices, yields are decent, but as far as CG possibilities go I would think it's very unlikely.

 

I agree with Robbo. I live in Hobart though currently in California and CG's would be minimal. These suburbs have good and bad tenants but the opportunity to find trouble either with tenants or surrounding neighbours are higher than more affluent suburbs.

If you had to choose a suburb,you would go Rokeby before the others mentioned above.

Also look at Warrane for ex housing commission houses close to Eastlands (major shopping centre and less than a 5 min walk including bus mall) and only 8 min drive to city.

 

100% agree with all of this. Don't mind Warrane as well as Moonah/Glenorchy although they are slightly higher priced.

 

Mornington is another suburb in this area (adj Waarane) to keep your eye on. Mixture of ex housing commission houses and new houses, some over the $400,000 mark built in the last 5-10 years for the new houses.

 

Hi Micheal did you end up purchasing in any of these areas? If so, would be interested in seeing how they where going!

 

https://www.realestate.com.au/neighbourhoods/gagebrook-7030-tas
https://www.realestate.com.au/neighbourhoods/herdsmans-cove-7030-tas
https://www.realestate.com.au/neighbourhoods/rokeby-7019-tas
https://www.realestate.com.au/neighbourhoods/warrane-7018-tas

These were some of the areas being discussed. If Michael did indeed purchase, he's probably seen a capital gain of at least 50% based on looking at the trends shown here. No idea about yield, and obviously the big question is whether or not he had any issues with his tenants!

 

Wow - I remember looking at this thread four years ago and debating whether I should buy one in Logan or two in Clarendon Vale.

The prices have well and truly jumped.

shame I bought in Logan

 

I am disappointed that I didn’t purchase a place at Bridge water and Gagebrook. They are double the price now. There will be other places like these somewhere. We just got to keep looking.

 

I live in Hobart and these areas mentioned are indeed rough areas, but I’d feel a lot more comfortable walking through them than rough suburbs in other cities. I personally couldn’t be bothered with the headaches that tenants in those suburbs could give. We have had a good run with university student accomodation in the city so we will stick with that.

 

hey guys,

anyone still here on this page. Happy to provide an update if anyone is still interested.

For the record, I moved into a house in Mornington in late 2016 which has nearly tripled in price since that time and purchased 2 investment properties in Warrane in mid 2018 that have more than doubled. One being on the market to be sold links week and was under offer in 2 days.