Glenorchy named as Hobart housing hotspot: PRDnationwide

Tasmanian suburbs Glenorchy, Moonah and Kingston have been nominated as the three most affordable housing hotspots for the region in 2017, according to PRDnationwide’s Hobart Property Hotspots Second Half of 2016 report.

Glenorchy

Glenorchy is located 8km from the Hobart’s CBD and is one of the most affordable places to buy and rent, with a median house price of $269,500.

Recording strong annual median sale price growth of 10.5%, it boasts impressive investment figures with very low vacancy rates of 0.4%.

It is significantly lower than the Hobart average of 2.6%, and a strong rental yield of 5.9%.

A three bedroom house at 20 Lichan Place, Glenorchy (above) has been listed for sale for $265,000.

Moonah

Moonah is located 5km from Hobart’s CBD. Its housing market has been gradually gaining momentum over the past few years.

Median prices in Moonah have grown a strong 12.0% in 2016, commanding an average of $310,125.

The extremely low vacancy rate of 0.4% and the rental yield of 5.7% are drawing the attention of buyers to it.

A three bedroom house at 27 Clifford Street, Moonah (below) has been listed for sale for over $330,000.

Kingston is located 12km south of Hobart’s CBD. The suburb has shown positive signs in 2016, earning it a place in both the house and unit hotspots for the second half of 2016.

New infrastructure projects commenced in 2016, valued at $1.7 million, will continue to further secure growth in the area and enhance its connectivity to wider Hobart. The area attracts a median house price of $399,475.

This growing suburb is home to a wide range of demographics with plenty to offer to families, couples and individuals.

A four bedroom house at 17 Lucas Street, Kingston (below) has been listed for sale for between $380,000 to $400,000.