TAS Time to Hype Hobart Thread?

Attractive rental returns draw Tasmanian investors to Moonah and Lutana: HTW

Herron Todd White update on Hobart rentals

 

Stay away.

Generic housing estate in an areasuburb that is not considered by locals as Howrah (and for good reason)!. Not many services nearby and definitely not within walking distance - have to cross highway/main road and too close to less than salubrious suburbs. I'd not go there (I drive past that area twice a day).

Cheers

 

I'd look at certain areas in Moonah before Lutana. The West Hobart, North Hobart and Mount Stuart gentrification is slowly seeping out north. What used to a general rule was South of Creek Road (previously known as the Flannelette Curtain) was where you wanted to be.....this is now starting to shift north but be careful how far and where!!

 

Elementary view atm but seems to be slowing down on some of the suburbs I have an interest in.

 

Are you talking rents or sales slowing?

Interested in what you're seeing. Less people enquiring? Vendors discounting?

 

I feel that sales are slowing down but maybe it's because it's almost coming to the end of the year? I could be wrong but happy to play the waiting game for the time being if I can obtain some discount on some of the interested properties.

 

The latest report has Lenah valley leading by a nose.

http://www.themercury.com.au/reales...s/news-story/bf213778eba9f732cf779497bf351e8a

 

I agree with some of the comments in the link which mentioned that some of the in demand suburbs seems to change.....

 

This could make things interesting

Singapore-based Fragrance Group has unveiled its plans, with a pledge Hobart's first skyscraper and another 20-storey futuristic structure would create 1,000 full-time jobs and ease the city's accommodation shortage.

At 120 metres, one hotel at 28-30 Davey Street will become the tallest building in Tasmania.

On the drawing board, the 35-storey five-star hotel features a bridge for pedestrians to walk to the waterfront without crossing Macquarie and Davey Streets.

The second hotel — a 20-floor, 75-metre structure with 495 rooms — is slated for 2-6 Collins Street.

 

Just got back from a 4 day trip to Hobart. Nominally was to check out our IP in Sandy Bay but also to get more of a feel for the place.

We stayed in West Hobart and loved the views down to the city and into the harbour. Last Saturday went up Mt Wellington and played in snow. The next day drove out to near Port Arthur and checked out one of the worlds most iconic climbs ' the Totem Pole' . Yesterday just cruised around teh city and North Hobart.

Certainly a place I can see us living in the future. Loved it.

 

Next time you're there, try the Beltana Hotel for dinner - their togarashi squid is grrrreeeaat if you're into squid/seafood. Their crumbed scallops are also pretty good. http://www.beltanahotel.com.au/resource/BeltanaMenu_Sep2016.pdf

I always go for the Tagarshi squid so not sure about the steaks etc. But they have dropped the flamin' bombe alaska from the desserts menu - was pretty good to see it when it was lit up at the table.

Back onto topic... how did you find the vibe of the property market there??

 

We had a chat with Rob Zubin from My Property Hunter regarding Hobart and he said ( if not a direct quote, I then paraphrasing) "it's the busiest he has ever seen it" I take this as busier than the last big surge post turn of the century. He said Launceston though was still fairly flat

In my eyes, fresh of travelling from Perth and Sydney, it did not seem busy. There was a lot of construction in the CBD but couldn't see much real estate activity elsewhere. My understanding is that listings are very rare.

The wealth effect particularly in Sydney is at the opposite end of the spectrum to tasmania. More older used cars in hobart as opposed to the fleets of Audi Q5s that seem to roam Sydney. Used car ads were common on tasmania tv, something never to be seen on Sydney tv. Dining out during the day i.e cafe culture in Hobart seems a bit of an extravagance rather then almost the norm in the inner west here in Sydney.

Roaming around Battery Point and Sandy Bay shops, a lot of elderly, not so many prams but a lot of prams elsewhere. As one pushing a pram myself, I am quite proud of my pram pushing efforts on some of the streets in West Hobart. Almost needed some kind of battery assist. Some of these gradients are quite extreme and not apparent from roaming around looking for property on google earth.

There was a lot of Chinese around, much more than I expected, in my eyes quite conspicuous against the mostly homogeneous tasmanian background. I see that as a positive sign for the Tasmanian economy in general.

Those are some of my fleeting, unsubstantiated anecdotal observations.

 

@radson we were holidaying last august and I also saw a lot of construction or refurbishment going on in the city. nice and quiet city. the only place that was busy was the royal Hobart Hospital where I was wheeled into emergency (long story). the salamanca market is nice. fairly quiet place. I like some of the buildings in the city. that's about it really. is West Hobart overlooking the waters from the hilly areas? so when some of you are looking at Hobart I wasn't sure if it is really a place one should invest.

 

Hobart for me is becoming a woulda shoulda coulda
Went there two years ago checking out places. 150- 200k in areas close around the flanelite curtain
Also some reno jobs on the other side of the river around lindisfarne howrah with sea views for high 200s
Didnt end up buying which was probably because of bank procrastination - should of had a broker...
Anyway just looking online it is very clear the market has moved quite a lot
If your going to invest then essentially your investing in money coming from melbourne or china as the locals earn stuff all
The vacancy rate is extremely low as well which is a result of almost zero construction in the last 15 years.

 

Hobart taking off and Launceston still flat . I like to buy then there's plenty of choice without competition and higher yield available .

I know where I'd be buying . Oh ... we already have

Cliff

 

Great success Apprentice Timing Lord...don't know how you do it. ...that is like 0-17 properties in 2.5 years....impressive.

Are these areas in Launceston similar to your Goodna purchases...i.e Ravenswood?

 

Ravo ?? God No ... Tassie Bogan's are in a league of their own . The " winner " of Bogan hunters was a tasmanian .... Goodna is much nicer than Ravo . Seriously .

We did have a look in the better part of Ravenswood, but there were still burnt out houses in the vicinity of the house we looked at .

In Tassie , we've bought in New Town in Hobart , South Launceston & Launceston it self . All nice areas . All the properties we've bought in Tassie are houses separated into units , for higher return . intention is keeping them all longer term .



Cliff

 

See Change, what did/do you think of Lutana, mainly the side closer the the highway, non soil effected etc? I was in Tassie and Hobart early in the year on a holiday but property investing was not on my mind then so didn't check out suburbs/areas.

 

I haven't personally checked it out , in terms of going there ( I still haven't seen the block of units we bought in new town in 2002.... ) ' but Lutana / moonah / moonah west is an area i keep an eye on . I did look there recently when we bought in Gailes , but we were looking at under 300 , and most of the places that were ok were more than that .

Cliff

 

Ya know its the bees knees...when you debate the type of Bogan in Ravo vs Gailes/Goodna...

Carry on old boy....