TAS Hobart is absolutely flying

Here is another interesting article from Propertyology with some projections for 2018 re growth in Hobart.

https://www.propertyology.com.au/a-boom-bigger-than-sydney-beckons-for-this-city/

 

i am amazed at what i have seen with my hobart properties. for example:

1. 2BR 1BA brick veneer villa purchased Sept 2016 for $262k, rented for $280pw. mid 2017 did $30k cosmetic reno, removed a couple of sections of wall, redo kitchen. Now valued around $335k, just rented last week fully furnished for $490pw (5 days to find tenant, signed same day). yield 8.7%

2. 3BR 1BA brick veneer purchased May 2016 for $356k, rented for $370. Now valued at $420k, and about to turn over tenant due to market rent also increasing substantially, predicted $430pw for new lease. yield 6.7%.

the agents all say they have never seen a market like this in hobart. rental vacancies at record lows.

 

Thoughts on Smithton?

 

Great yields for Oz properties
Growth an added bonus, load up

 

I don't know it from an investment point of view. always thought to be a bit of a hole of a place to live though! it's a long way away from everything. i am only investing in Hobart, although Launceston is doing well now too.

 

Louis’s forecast for the Hobart market in 2018 is a rise
of 7%–13%, which is nothing to sneeze at. And his
advice for investors is: buy a freestanding home as close
to the city as possible … but beware the downturn.

 

G'day, I am a noob to the forum, I am wondering if I can get some advises on what to look for and what to lookout for when it comes to investing in Hobart.

We have a budget of $600k, and looking for an IP with relatively good Yield, Suburbs I am eyeing on are Sandy Bay, Moonah, New Town and Kingston(generally the higher income area that is closer to the CBD), Should I be looking at house only? Is apartment and town house good options for Hobart? Thanks.

 

Hobart is fast approaching Adelaide, Brisbane and Perth territory. If it continues for a year or two at that speed it will be equal to those much larger and well established cities. This makes me wonder how much growth does in still have and whats the aftershock considering the historical context of where it is normally positioned.
Remembered that Perth was for a very brief period climbing to the top spot in the noughties, but was pretty soon put back to its place.

 

It is hard to get a free standing house in Sandy Bay for $600k unless it is like small cottage. New Town is also quite expensive. Moonah is much cheaper

 

Hobart is stil far away from Perth, Brisbane and Adelaide, espcially the 1st two.

 

Not really, its closer than you think. Its probably be in a few months of reaching Adelaide and a year or two max away from Brisbane and Perth at this rate. Then most investors will ask what is the value/price proposition of Hobart after that.

 

It is median price. Too generic. You should compare a property within a certain radius, for example a house within 5km from Hobart CBD is way cheaper than a similar property in Perth and Brissy.

 

Comparing cities have always been about median prices. If you are comparing specifics then when does it stop? land size? water view? population? school zones? number of bedrooms? brick vs weather broad etc... do you get what i mean? The population is significantly smaller in Hobart, comparing distance to cbd does not make any sense unless you have can calculate the ratio. for e.g 5 km in hobart equivalent to 20km in Brisbane( but thats not reliable either)

 

But there are several markets within one big market.

 

But anyways, I am not going to argue. Let see what happen.

 

If you had a choice to invest north of Hobart (as far north as Claremont) or north of Launceston (eg Invermay), which would you choose at this point, knowing Hobart overall has moved more?

 

It's like New Zealand in Australia.

 

Interesting trajectory on Tasmania population growth from ABS figures released today. Tassie surpassed SA and heading towards W.A numbers. Who would have thunk it ?

 

You have your eye on all the best suburbs for capital growth - apartments - older well located ones ( ours is 200 m from the uni ) do very well.

 

Though with stats you can portray any story you like.
If Tassie was to grow at 4%, thats still only around 20,000 people. A food truck festival in Vic gathers more people than that