TAS Hobart is absolutely flying

Just had a look at what on offer for 3 bedders under 300 in Claremont and there’s not much there under 300 if any ( we paid 267 ) in ? June and it looks like things have moved up in the last three months .

Cliff

 

our last purchase was in berriedale. some really nice areas, lots have water views over MONA. good family area, mainly big houses, some decent renovations going on too.

 

Thanks, Pat. There are some nice pockets with big houses. However, Berriedale is adjacent to Chigwell. Some pockets are not very good. How big the impact of MONA will have on future capital growth? Do some people think the view of MONA is a prestige and decide to move to Berriedale?

 

Mona has been there for a number of years now and Hobart is a small place.

 

yeah mona has been there for a while and there has not been a migration to berriedale. but the prices in the area have been on the increase. rosetta (the neighbouring suburbs) has been mentioned in YP magazine a few times as a suburb to watch. our place is on the rosetta side, so not neighbouring chigwell.

 

Looked at the official statistics recently, interstate migration seems to be quite low historically. The interstate buyers seem to be targeting newer builds in established areas rather than older houses for occupancy. Last open home I went to a few months ago it was only investors looking (Glenorchy).

 

Yes, the word investors isn't far away in the conversation when talking about selling.

 

Do you think Blackmans Bay and Kingston would be good places to invest in? The yield there is less than 6%. As the houses are more expensive there the land components of the houses are higher. Therefore, I would think they may offer better capital growth.

Pros:
These suburbs offer good beach lifestyle
Nice middle class suburbs. Less tenant issue
Renovation return is higher than cheaper suburbs

Cons:
a little bit far away from the CBD
Yield is not as good as northern suburbs
Surrounded by lots of land

 

Both Kingston ( stay away from the Maronoa heights houso area though) and Blackman's are great places to invest with lots of business /shops and is one of the fastest growing areas in Southern Tas.
I work in Kingston and i have heard that there is an extreme under supply of 3-4 bedroom houses for rent with over 100 people turning up on a Sat open for inspection.
Growth is good.but not as high as the older inner Hobart blue chip suburbs. My mother lives in Kingston and her house cost 125 k in 1994 and is worth well over 400 k now (3 bed/1 b brick )
Only 10 min from Hobart Cbd ( except peak hr)

Troy

 

Thanks, Tony. Why it's one of the fastest growing suburb? Is that because there are many new properties were built and people moved there? Is the beach one of the best in Hobart?

 

I would be cautious with Blackmans Bay, it is taking a while for places to be rented out and investors seem to be selling.

 

Kingston is not far from the city and has room for development
If you can buy a reliable 70's - 1990's 3 brm brick house not too far from the main shopping area and or beach it should be a solid long term investment the area had 6.6 % growth over the last 12 months. the average weekly household income is $ 1117 and there is a good mix of owner occupiers and rental properties. The area has great lifestyle drivers with 2 nice beaches plenty of cafe's 2 woolies and 1 Coles etc. The expensive areas are close to both Kingston and Blackmans bay Beach.

Troy

 

Peak hour hasn't been as bad recently though! I live just south of you and work in the Northern suburbs and the traffic has been pretty good. I might be CBD based soon (fingers crossed) and it is a great commute for me since there are no lights between home and CBD.

I haven't heard of any issues with vacancies... The opposite in fact, I cannot believe how expensive local rentals are they seem to get snapped up quickly.

 

We live in Old Beach not Kingston area

 

My bad.

We need to house swap our workplaces are both within ten minutes of the others home! I hate the Brooker Highway with a passion! The Southern Outlet is amazing.

 

Well, it's not going to be advertised. It is something I have noticed with one of my parents living locally. My observation based on watching the market closely. I think it is a market at saturation point, or very close at the high end. They are being rented eventually though.

 

Boom

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Kingston is closer in time driving that Moonah Glenorchy etc, its not only the shops and beaches that make it popular. One of the main draw for Families is the Schools and Childcare options.

 

Seems the wave has hit Claremont . Just had a chat to one of the local agents about this place .

60 Boxhill Road Claremont Tas 7011 - House for Sale #126692498 - realestate.com.au

It’s been on the market for about one hour and I was the fourth person to call ( personally just to see what’s happening ) and was told the market is crazy . Was told things are selling quickly and over the asking price . One place fell over with finance and they got an extra 5 when they put it back in the market .

Doesn’t expect this one to last long ? 290 expectations .

Cliff

 

likewise a family friend just sold this place
22 Pulkara Circle Berriedale Tas 7011 - House for Sale #126638590 - realestate.com.au

had 5 offers after the first open home with about 20 odd groups turning up. offer accepted on third day to a sydney investor around $335k....