Hobart Hotspots 1st Half 2017

The PRDnationwide Hobart hotspots report analyses all suburbs within the Greater Hobart region. It provides valuable insight and highlights for the market, reporting on a number of key indicators to create a holistic picture of the property conditions in 2017. This report focuses on suburbs within a 10km radius of the CBD, taking into consideration the following factors:

  • Sales indicators - the number of sales transactions (suburbs with less than 20 sales are excluded in affordable hotspots and top performer selection) and median price growth over the past fifteen months between 2015 and 2016/17.
  • Rental indicators - median rental price, rental yield, and vacancy rates.
  • Affordability - the average Tasmanian home loan, which indicates the amount that banks are comfortable with in approving for mortgage loans. We add 40% to this amount to indicate the maximum property price. The average Tasmania home loan is $243,614** as at December 2016, which is an increase of 2.4% over the previous quarter.
  • Projects value - developments scheduled to commence in the 1st half 2017, which includes mixed use, infrastructure, industrial, and residential projects. This is key to maintaining growth as it indicates a potential increase in economic and commercial activity; as well as interconnectivity to key transport routes, the CBD, and other major urban business hubs. 

Hobart’s property market has sustained its consistent annual growth and is set to maintain the trend into 2017, as the state’s popularity continues to swell.  With house and unit prices beginning to hit their strides in their respective upswing stages, and the rental market performing strongly; investors are continuing to find ample opportunities in the market. 

For further information on each PRDnationwide Sydney 1st half 2017 hotspot please contact research@prd.com.au