TAS Hobart leads the way

Hobart has the highest growth of any state capital in the last three months
Cliff

 

Hobart house prices lead the way in latest quarter

"While the growth trend in smaller cities such as Hobart can show higher levels of volatility, clearly the Hobart housing market is now well into its growth cycle," Mr Lawless said.

"Strong housing market conditions are being driven by positive affordability of housing, as well as improving economic conditions and stronger migration trends."

Over a longer time frame, however, Hobart is one of the worst performing real estate markets in the country. Saith the writer Clancy Yeates.

 

Growbart

 

You forgot the next sentence

'Since the global financial crisis, Hobart prices have lifted by only 9.5 per cent, compared with 99.4 per cent in Sydney, 85 per cent in Melbourne, according to CoreLogic'.

Hobart's cycle is always behind the larger mainland capitals in timing. Which is the best place to invest now? Sydney which has made a 99.4% recovery since the GFC or Hobart with (so far) only 9.5%??

 

What are your thoughts? Are you looking at purchasing in Hobart? I'm yet to investigate it in full detail

 

A broken clock is right twice a day.

 

On the other hand, Hobart has very good prospects as a retreat zone in the event of a global nuclear war, and Tassie in general.

 

I've been looking at Tassie on the net. I like Glenorchy. It's cheap and not far from the city.

Also I can see "orchy" in the name. Must have been named by a bogan.

 

Nah...mate....wrong suburb....Gagebrook or Bridgewater...might be the way to go.......for yah

 

Bozley , what are your observations as to what' s happening on the ground ?

As you know we have property in New Town from the previous cycle and were looking at the Moonah , Lutana area around a year ago , but went to Launceston for higher returns ( around 8 % ) whereas in Hobart it was closer to 6-6.5 .

Cliff

 

Datto ,if you're looking for genuine bogan suburbs , you 'll feel at home in Tassie , though you might find some places a bit scary , even for you . Any suburb beginning with R in Launnie . There was a suburb in Hobart that even Skater found scary and sold an IP in due to " problems " , can't remember which one though . Skater ? are you there ?

Cliff

 

Ah , Worked it out ...

Gagebrook .

Cliff

 

Gagebrook it is.

I'll have to first check the place out snd see how many single mums there are.

 

Ha ha Datto only 50% single families in Gagebrook..

 

Yep......off ya go....

 

Good hunting ground for you @datto as single mums are 3 times the Oz average..

 

Having been watching Hobart the past 4+ months quite closely, there is certainly big demand for value properties in close. I'm guessing many don't even get listed as those that do seem to go within days.

This certainly has pushed the price up in the inner suburbs (3-4ish kms) with properties mentioned above seemingly often going for more than asking. This is costing yields obviously. Though it would appeal vacancy rates are still staying on a low/declining tread so perhaps some chance for movement int rents ?

The question for me is is how long will the cycle last, and how far will it push out from closer to the CBD?
How far north can one go?
I'm wondering also about properties along the east of the river. Is traffic bad from there? I figure river views would be a must on this side.

There certainly seems some value in Launceston, but from what I've read, Hobart seems to have more drivers that have a chance of sustaining some growth.

 

It was Gagebrook. Admittedly we bought sight unseen for the pricely sum of $5k. The property itself was fine. It was the dodgy neighbours that spoilt it. I think we sold it for $20-$25k, so no losses.

 

Hi Cliff
its been surprisingly busy here during January (usually a quiet time). Prices are rising now in the middle ring areas because people can get more bang for their buck there compared to the centre. Your New Town places should be doing well!
cheers
Pam

 

Love it! So does my mate Boogsy. He's going to try and get a transfer to Risdon so that way he's amongst it when he's released.