Top Tasmanian location for prospective buyers revealed

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Recent data has revealed that New Town is Tasmanias most sought after suburb. New Town is close to Hobart, served well by public transport and is very close to shopping and cafe and restaurant facilities.

I did live in New Town myself for approximately 6 months while renovating another house and quite enjoyed the time.

New Town is followed by Sandy Bay and South Hobart in terms of the most sought suburbs. Those suburbs also offer great proximity to the city and facilities. And there are pockets of all these areas that are more affordable – even Sandy Bay has some good rentals and properties for sale if you look hard.

Launceston, Glenorchy and Riverside were the top three suburbs for people searching for units.

Courtesy of The Mercury:

NEW Town is now TasmaniaÆs most in-demand suburb, data has revealed.

Between March and August, realestate.com.au Æs Top SellersÆ Markets found homes in New Town, followed by South Hobart and Sandy Bay, received the most attention on the property website.

Launceston, Glenorchy and Riverside were the top three suburbs for people searching for units.

SEE THE FULL LIST BELOW

The data emerged in a hot property market that has seen New TownÆs median house price for the past year jump by 7 per cent to $445,000, according to CoreLogic RP Data.

In the June REIT quarterly report, it was noted interstate and overseas buyers contributed to 20 per cent of Tasmanian house sales for the first time.

First National Real Estate property consultant John McGregor said New Town had always been an aspirational suburb given its proximity to the city and outer suburbs, and with streets showcasing some beautiful, exclusive property.

Mr McGregor said there were opportunities to renovate stunning Federation and inter-war homes, as well as consistent strong demand from buyers and renters of all generations.

ôNew Town has always been a source for strong capital gains compared with our marketÆs average,ö he said. ôWith interest rates currently low, home buyers with access to capital are looking to purchase in a strong growth suburb and finally buy the house they have always dreamt of. Our stats show over 90 per cent of them live locally.ö

Homeowners Jim and Louise Orpe are hoping to ride the wave of New TownÆs popularity. They have listed their renovated 1920s Park St cottage after living in the suburb for three years.

New TownÆs popularity with those looking to buy came as no surprise to Mrs Orpe. ôThe position is fantastic,ö she said. ôIt is a walk into the city, North Hobart and Friends School, or you can ride your bike to MONA or Taroona.ö

Realestate.com.au executive general manager Andrew Rechtman said there was value in knowing the hotly contested markets. Mr Rechtman said the siteÆs Top SellersÆ Markets showed where the highest interest from buyers was, which highlighted opportunities for prospective sellers, as well as buyers, as they could see suburbs where competition was likely to be hot.

Petrusma Property director Jake Towns said driving factors for interest in New Town were easily identified. ôIt offers convenient proximity to HobartÆs CBD, schools and restaurants without the huge price-tags that other similar suburbs boast,ö Mr Towns said.

He said New Town was also attractive for investors. ôLots of families and first homebuyers are looking in New Town also, but there are definitely lots of investors making their way in from Sydney and Melbourne,ö he said.

CoreLogic RP DataÆs monthly rental review, out this week, confirmed rental rates across capital cities were unchanged in September.

Realestate.com.auÆs Top SellersÆ Markets

Houses

  1. New Town
  2. South Hobart
  3. Sandy Bay
  4. Lindisfarne
  5. Lenah Valley
  6. Blackmans Bay
  7. Howrah
  8. Geilston Bay
  9. East Launceston
  10. West Moonah

Units

  1. Launceston
  2. Glenorchy
  3. Riverside
  4. Claremont
  5. Devonport
  6. Midway Point
  7. Brighton
  8. Newnham
  9. Shearwater
  10. Wynyard

 

And don’t miss out – we offer a free cheat sheet on helping you choose where to live in Tasmania. Go get your free advice now and get in touch if you need personal assistance.

Dale.

 

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2 Comments

  1. Judith jefferson April 8, 2016 at 7:26 am - Reply

    We are looking at bridgewater could any one give advice on this area please

    • Jo (Admin) April 8, 2016 at 10:53 am - Reply

      Hi Judith,

      I have responded to your email separately.

      For everyone’s info, a great website for comparing suburbs and getting some demographic information is Property Value – https://propertyvalue.com.au . Definitely worth a look.

      Jo

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