Choice aplenty in Tasmania for $500,000: HTW

Choice aplenty in Tasmania for $500,000: HTW
Choice aplenty in Tasmania for $500,000: HTW

Many Tasmanian properties are available around the $500,000 range, according to Herron Todd White’s latest July report.

The property investment firm says that however this is more concentrated in the northern parts of Tasmania.

“Properties for sale with asking prices of around $500,000 in the greater Hobart region are less concentrated in particular suburbs relative to Northern Tasmania.

“Being a capital city with a significantly larger population, capital entry requirements tend to be higher, suburbs are spread over a larger geographic area and contain greater diversity of property types.

“Sandy Bay, Kingston and Lindisfarne are Hobart suburbs where the greatest number of sales have occurred within the half a million dollar price point.

“Sandy Bay has an air of exclusivity and is popular due to its position immediately south of the city with the Derwent River its southern border.

“Contained within the suburb are the University of Tasmania campus, casino, local shops and recreational facilities.

“Due to Sandy Bay’s exclusivity and nearness to the city, units are the predominant type of residential property that can be purchased within this price range although some smaller homes are still within reach.

“To purchase a house in Sandy Bay you would need capital reserves in excess of half a million dollars as approximately 20% of the suburb’s recent sales were in excess of $1 million with a top sale of $6.5 million.

“An example of what you could expect to purchase in Sandy Bay with a $500,000 budget is a 3-bedroom, 1-bathroom, circa 1990s, partially updated, 130 square metre villa with single lock up garage on the suburb’s periphery,” the report stated.

A two bedroom townhouse at 6/4 Quayle Street, Sandy Bay (above) has been listed for over $530,000.

Built in 1987 the property was last sold in 2014 for $395,000, in 2008 for $320,000 and in 2002 for $185,000.

Kingston is Tasmania’s fastest growing region according to Herron Todd White.

“Kingston is reported to be Tasmania’s fastest growing region and is a 25 minute commute to the city via the southern outlet.

“It is a self-contained satellite centre with major and local shopping centres, public and private schools and recreational facilities.

“Recent sales in Kingston indicate that purchasers with $500,000 to spend could expect to buy an older style home with a living area ranging from 120 to 160 square metres.

“If you can push the budget closer to $600,000 you could purchase a modern, 200 square metre home on a 900 square metre block,” the report commented.

A four bedroom house at 13 Greenhill Drive, Kingston (below) has been listed for between $580,000 to $630,000.

Built in 2004 the block of land was last sold in 2003 for $55,500.

Choice aplenty in Tasmania for 0,000: HTW

Herron Todd White advises that Lindisfarne properties with water views are available for half a million dollars.

“Meanwhile in Lindisfarne on Hobart’s eastern shore you could purchase a modern, 3-bedroom, 2-bathroom house, with double lock up garage and water views on a smaller, 460 square metre block.

“If you prefer privacy a slightly higher spend could secure you 1.5 hectares with an older style, renovated, 3-bedroom and 1-bathroom house.

“Lindisfarne residents have a 15 minute commute to the city via the Tasman Bridge,” the report advised.

A four bedroom house at 11 Corinna Road, Lindisfarne (below) with views has been listed for over $550,000.

Built in 1952 the property was last sold in 1995 for $96,000 and in 1988 for $82,000.

Choice aplenty in Tasmania for 0,000: HTW

North, central and inner city properties historically have the best value Herron Todd White comments.

“$500,000 in the north of Tasmania can buy you a significant residential property relative to other states in Australia.

“Historically in the north, centrally located or inner city property has best held its value.

“Recent sales data show that the greatest numbers of sales within the $500,000 price range have occurred in the suburbs of Grindelwald, Trevallyn, Newstead and Launceston,” the report commented.

Grindelwald attracts purchasers who prefer large homes Herron Todd White states.

“Grindelwald is a commuter suburb (approximately a 25 minute drive from downtown Launceston) developed around the theme of a Swiss village in the 1980s.

“Grindelwald is attractive to purchasers who prefer larger homes on larger parcels of land in a rural residential setting.

“Homes that have recently sold in Grindelwald range in size from 200 to 260 square metres of living area on parcels of land ranging between 800 and 2,600 square metres.

“The majority of these homes were built in the 1980s to 1990s and have achieved sale prices between $480,000 and $528,000,” the report stated.

A four bedroom house at 39 Atkinsons Road, Grindelwald (below) has been listed for $545,000.

Built in 1992 it was last sold in 2016 for $445,000 and in 2005 for $395,000.

Choice aplenty in Tasmania for 0,000: HTW

Purchasers in Trevallyn are likely to have a property with a view Herron Todd White says.

“If you live in Trevallyn, it’s likely you prefer to have a view as Trevallyn sits on a hillside overlooking the Tamar River and borders the northern side of Cataract Gorge.

“Along with spectacular views come steeper blocks.

“Some properties while having larger block sizes have decreased functionality due to the block gradient and vehicular access may be more difficult.

“For around half a million dollars in Trevallyn, recent sales indicate that you could purchase an older style home (built from the 1970s to early 2000s), offering from 170 up to 300 square metres of living area on blocks ranging from 800 to 2,000 square metres.

“Sale prices for such homes have ranged from $403,000 to $510,000,” the report commented.

A five bedroom house at 1 Gourlay Court, Trevallyn (below) was sold in January 2017 for $530,000.

Built in 2004 it was last sold in 2012 for $485,000 and in 2002 for $42,000.

Choice aplenty in Tasmania for 0,000: HTW

Newstead is popular due to its proximity to central Launceston Herron Todd White advises.

“Newstead is a popular family suburb due to its proximity to central Launceston and its range of services such as sporting facilities, shopping and restaurants.

“Homes within the $500,000 range in Newstead tend to be on its periphery where recent sales indicate you could purchase a modern home with 170 square meters of living area on just under 900 square meters of land.

“Alternatively for just over $300,000 you could purchase a smaller, 1940s built home that requires renovation, closer to town, with 110 square metres of living area and a block size just under 700 square metres.

“To purchase larger, established homes in north-west Newstead you would need a budget in excess of $500,000,” the report advised.

A three bedroom house at 59A Cypress Street, Newstead (below) has been listed for $320,000.

Built in 1990 the property was last sold in 2003 for $125,150.

Choice aplenty in Tasmania for 0,000: HTW

Central Launceston properties can be purchased for around half a million but require renovations and are often set on steep locations Herron Todd White warns.

“For those wanting to be in Central Launceston residential homes can still be purchased for around $500,000 however such homes tend to be on the periphery, require renovation and are often in very steep locations.

“An example of such a home that sold recently for $450,000 is a terrace, located in one of Launceston’s steepest streets that has 206 square meters of living area over two floors that requires renovation and has car accommodation of a single carport situated on a 273 square metre block,” the report warned.

A four bedroom house at 143 Canning Street, Launceston (below) has been listed for over $545,000.

Choice aplenty in Tasmania for 0,000: HTW

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