TAS Hobart is absolutely flying

Hi troy

All of the areas you mention are nicer areas than glenorchy , but they've already moved up substantially in the current cycle ( We have a block of four units in New Town ) .

They also have lower returns , so higher holding costs .

Purely as an investment at this time ( for good capital growth in the short to medium term ) , personally I'd go further out .

It's a little bit like comparing a central sydney suburb with Mt Druitt in Sydney .

Cliff

 

Moonah shopping strip seems very quiet. A fair few empty shops. I was shocked to see two empty in Centre point in Hobart CBD. Retailers seem to be struggling a bit.

Opossum Bay seems a good suburb. Anyone have good, bad, ugly things to report?

 

Hi hobartchic

from all reports Hobarts economy is on the up - with retail spending in particular I think. Moonah has lots of new cafes, bars restaurants. I saw a Chinese grocer and alternate medicine place there the other day. I think its really going ahead and becoming more trendy and busy. Its known by some as the new North Hobart.

Opossum Bay is beautiful - I would like to have one of the houses on the beach but its not a suburb of Hobart

 

Haven't heard of opossum bay before

Just thinking about selling every thing and retiring to this place ...

74 Spitfarm Road Opossum Bay Tas 7023 - House for Sale #126709222 - realestate.com.au

cliff

 

that's what I thought too!

 

so , how far out from hobart ?

Is it near where they filmed Lion ?

Cliff

 

Hmmm...retailers are shutting shops so you will have to explain all that to me. Moonah's better than it was overall but it's no comparison to NH and there's quite a few empty shops. Sure not as busy as it could be.
I know Opossum Bay isn't Hobart, just looking to see if I missed anything.

 

Hi Hobartchic I suppose I go more by economic and social data although anecdotal evidence is interesting. I don't think Lion was filmed there seechange but I still haven't seen the film so not sure! Its about 40 minutes out of Hobart which is a long way by our standards. It would be worth it though if you were in one of those houses on the beach.

 

Hey guys, new to the Hobart thread and starting to do some research. Can I ask what's actually driving the Hobart boom? Intersatate migration? Lifestyle changes perhaps?

What have the booms been like in the past in Tasmania? Can we expect a couple more years in the current boom?

Thanks in advance

 

As someone who actually lives in Opossum Bay I can say it is a suburb of Hobart albeit a little regional. 30min drive without traffic 40min with so really not that far. Opossum Bay/South Arm was more a shack seaside holiday place 20yr ago but has since come into its own as a more sought after area and a nice relaxed style of living near beaches. Property prices have steadily gone up around the area, obviously more so in the last year or so.
Tasmania has booms usually a few years after the mainland but not as long or as big so it stands to reason our property rises are more steady in growth rather than big spurts. Sometimes however we do get one of these bigger spurts which has happened recently. The last was probably 2003 or so that I can recall. What drives them is a good question. I would say increased tourism creates more jobs and more interstate migration plus many lifestyle and family changes and retirees moving to Tassie would certainly help, and the fact it is a great place . I would doubt it will go much longer, probably price increases will slowly make their way out to outer suburbs but who really knows. Going to be an interesting year ahead I feel.

 

This article was in the local newspaper today and goes some way to explaining the increased confidence and development in Hobart.
'Hobart Development Boom'
No Cookies | The Mercury

The last boom in Hobart went from about 2002 to 2009. I don't know how long this one will last but all indicators say that pressure is still mounting. Stock levels are decreasing, demand is increasing, vacancy rates are now at 0.3% making Hobart attractive to investors.

 

Opossum bay is a good 40 minute drive from Hobart. Beautiful area but hardly any shops or cafes. Still has a holiday shack feel. The area is on tank water too. I considered it for a little while but decided it was just too far out to get the high owner occupied demand to drive the CG.

 

Thank you. I can understand your concern. I've since learnt that, at the moment it is selling well for prices that I would expect closer to town in blue chip areas. Though some vendors are getting greedy and not selling when they could for exceptional profit. Whether that can continue is anyone's guess.

 

I drove out to the Eastern shore the other day... I totally forgot how many bloody water trucks are on the road out there! It is so extra dry over the river (although to be fair it is dry everywhere this year).

As someone who lives under 20 minutes to the city I can confirm that EVERYONE I know that works in the city acts like I live in whoop whoop! South of the city is all highway driving, so geographically it is further, but traffic wise it is far superior! Not a single traffic light until the CBD and only need to merge once or twice the whole way!

 

It always makes me laugh when I read of a Sydney sider complaining about the commute for me to realize they have a shorter commute than I had in a suburb in outer Hobart! 20 minutes is really not that far at all, is it? (This was much longer than that though in peak hour)

 

Hi All,

What do you think about properties in Hobart with dual rental income i.e. a main 3bed house on upper level plus a self-contained flat on the ground level. The number looks quite promising in my calculation with a gross rent of approx. 6-6.5%.

What do you also think about suburbs like Lutana, Goodwood, Derwent Park or the other side of the river Rosny Park, Lindisfarne, Warrane?

Thanks.

 

I think these kind of properties are great. We bought one with exactly this plan last year. We’ll update the downstairs 1BR flat and rent it separately to the main house next year. Will take yield to 8% according to the rental estimates by our PM. The PM said they rent quite well.

I love the eastern shore. It’s quite unappreciated and still significantly cheaper than many properties on the western shore. Lindisfarne and Bellerive are performing really well. Rosny there are good and bad areas. Warrane is working class but improving, people are doing small subdivisions and the area is becoming more popular as locals are priced out of the better suburbs.

 

Thanks for your opinion. I used to live in Hobart fro about 4 years several years ago. From what I can remember, Eastland shopping centre always feels and looks better than Northgate in Glenorchy. I really like the Eastern Shore compared to the Western suburbs. The only downside is the Tasman bridge to commute to the city. There are also more jobs in the West than East I believe.

 

Could of got this place just last year
185 lewisham scenic drive , lewisham
635k
Great extension on to an average house
Would of loved to be able to buy this at the time and just air bnb it

Sorry links dont work for me

 

Only one capital city saw positive value growth over February - Smart Property Investment

Feels like every day there is an article hyping hobart now