Tasmania October 2017

The month in review: Tasmania

By Herron Todd White
October 2017

Tasmania has Australia’s second and third oldest cities and as such there are many historic properties. Many of these are well known tourist destinations with World Heritage listed Port Arthur topping the list. Woolmers Estate, Brickendon and Franklin House are National Trust properties open to the public. The varying architectural styles that can be found in the population centres include art deco, Federation, inter War old English arts and crafts, late Victorian gothic, Victorian Italianate terraces, Georgian Greek revival and Georgian cottages. Not all of the historic homes are of grand proportions as shown in the below picture of a Georgian cottage.

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Many Tasmanians are lucky enough to own and live in some of these historic residences. As you would expect, the majority of these homes are located in the inner, higher priced suburbs with others on rural properties, once grand rural homesteads. In more recent times as the residential property market has stabilised after experiencing historic lows we are seeing some historic homes being updated or extended to suit contemporary lifestyles.

Modern open plan extensions are being blended with character homes to increase not only their size and functionality but also exploit features such as views that were either considered less important or constrained by building techniques and materials in the era when the original home was constructed.

tasmania property market oct 2017

More recently there have been instances where properties in prime locations have been viewed as being more valuable without their older existing home, that is, as a vacant block. As a result of this and the disparity between build costs for new homes compared to renovations or extensions, some homes rather than being extended and renovated are being demolished and replaced with new.

tasmania property investment review oct 2017

A notable sale of Sentosa occurred earlier this year in Sandy Bay for $6.5 million. The property sits on 2,309 square metres of land and is a renovated, circa 1917 home situated on Blinking Billy Point with Derwent River front reserve. The historic 527 square metre home has 4-bedrooms, 4-bathrooms and an indoor pool.

In Northern Tasmania In March this year, a renovated 1880s, 5-bedroom, 2-bathroom residence centrally located in Launceston on a 1,366 square metre block with city and Tamar Valley views sold for $1.475 million. The property has many period features and a croquet lawn.

Speak with a Mortgage Broker in Tasmania today.

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