CoreLogic National housing Update November 2017
November Market Outlook
Making rentvesting work for you
Should you rent to people with pets?
Buying property with friends
Adelaide November 2017
Brisbane November 2017
Cairns November 2017
Canberra November 2017
Darwin November 2017
Gold Coast November 2017
Melbourne November 2017
Newcastle November 2017
Perth November 2017
Regional NSW November 2017
Regional NT November 2017
Regional QLD November 2017
Regional SA November 2017
Regional VIC November 2017
South West WA November 2017
Sydney November 2017
Tasmania November 2017
Wollongong November 2017
CoreLogic NSW housing Update November 2017
CoreLogic QLD housing Update November 2017
CoreLogic SA housing Update November 2017
CoreLogic VIC housing Update November 2017
CoreLogic WA housing Update November 2017
What are the costs for buying a new home?
Self-employed? What you need to know about taking out a mortgage
Go hard or go home? Not necessarily
Tasmania November 2017
The month in review: Tasmania
By Herron Todd White
Hobart Property Update
Hobarts residential rental market continues to be firm with sub 2% vacancy factors and overall rental price growth approaching 5% year on year. This is been driven by a historic ‘strong’ property market and various push/pull factors in the differing regions.
The university has recently developed a substantive 15 level apartment block in the CBD. This has absorbed some tenants that otherwise would have been in the private market. However, discussions with the project manager, many have actually come from the outer regions who other wise may have stayed at home or taken cheaper fringe rental accommodation. Those students near Sandy Bay and City campuses or residing on site have tended to stay in situ.
The property price growth has pushed many would be first home buyers to remain in the rental market (first home buyers remain around 1/3 of the market). Rising rental costs, especially inner city, continue to depreciate their saving ability.
Mum and Dad and Self Managed Super Fund (SMSF) investors have been active in the middle geographical band, which includes suburbs such as Moonah, Kingston, Glenorchy, Lindsfarne etc. Housing around the $400,000 mark is still very achievable with gross yields typically in the 5.5% to 6% range.
There are around half a dozen serviced apartment complexes in which strata’s are available. Yields typically are 7% net and above. However, historically these have to date, attracted limited capital growth.
For those with some coin in their pocket….. 22 De Witt Street comprising a historic dual level 5-bedroom 4-bathroom residence with a pool can be rented for $1,200 per week. For those on the other side of the economic scale sub $150 per week is still available, such as a 1-bedroom 1-bathroom flat in Rokeby for $135 per week.
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.