Dear all, Quick summary of my position: 1) Currently hold 4 investment properties (1 x Brunswick East, 2 x Bell Park, 1 x Melton) 2) Have approval for approx $500k lending and have approx $200k deposit available 3) Investment strategy is largely focussed on buying properties on large blocks of land that can be subdivided and built on and renno'd. Looking to buy and hold long term I have been eying up Hobart for a while, suburbs like Moonah and Glenorchy. There's a lot of mixed opinions online, but most reading I do seems to focus on the next 2-3 years, rather than say the 10-20 year outlook. I really like the look of this property: 44 Johnston Street, Moonah TAS 7009 - House For Sale | Domain Rental yield is good. Location is walking distance from Moonah centre. I have the funds/lending to build the house in the back. After purchasing and building, the total cost would be approx $800-850k. I would hold 2 x good condition nice dwellings in central Moonah and the asset as a whole would make around $15-20k per year profit, after considering rent, interest on loans, rates, land tax etc. What are peoples thoughts? If Hobart slows down for a few years, is this still a good buy if I am planning to hold for 10+ years?
I think it is better to consider other markets which just start to rise. Hobart market had its boom in the last few years, it is unlikely that you will enjoy exceptional growth in the next 5 years. Please also be aware that the construction cost in Hobart is higher than that in Melbourne.
I live and invest in sandy bay, a suburb on the fringe of Hobart city. We are coming into the busy season now and from my observations there looks to be quite a bit more stock coming onto the market this year than the last few, however houses in the inner city suburbs are still selling very quickly and usually well above asking price. Looks like the demand is still there. Have to wait and see how we go this year but looks promising for another year of strong demand. Won’t be complaining if it matches the last couple!
Might be some investors looking to take some profits Or unload properties that no longer suit their investment goals Owner occupies looking to upgrade maybe Like any market, you need to persist doing your own due diligence Finding a bargain or below maket property will take a LOT of work There will always be bargains to be found, there always is Just need to do the work (to what suits your skills/risk profile)
no extreme weather. Beautiful 21 here today we are actually starting to get quite a few QLD move down here as it’s now too hot in some parts of QLD for some people they can buy inner city beachfront property here for the same price as suburban QLD
Its lovely. Depends how you define extreme though. I was down there recently and caught summer snow. In my world that ticks a slightly extreme box. But yes... in the light of heat and fires and drought in some parts of the mainland, it may well catch a nice little demographic ripple of folks chasing cooler climates.
