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North Hobart, TAS 7000

Home » TAS Real Estate Data » Hobart City Council, TAS » North Hobart, TAS 7000

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for North Hobart, TAS 7000 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “North Hobart, TAS 7000”

  1. The total adult population (15 years or older) of North Hobart 7000 TAS is 2,365, with a median age of 35. Of those, 31.33% are married, 12.56% are divorced or separated, 53.49% are single and 2.37% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $8,868. The median monthly mortgage repayment for households in this suburb is $1,820 which is 20.52% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in Tasmania, the suburb of North Hobart (postcode 7000) is home to approximately 1,828 households. As of the third quarter of 2023, the typical price of houses in this area is $859,543, while the median weekly rent sits at $579. These figures result in an indicative yield of approximately 3.5%.

    North Hobart has a relatively favourable socio-economic status, with an IRSAD score of 1045 out of 1217, suggesting a community that’s generally financially stable with good access to economic resources.

    However, the renter to owner ratio is at 65%, which is above the 45% threshold that investors should be cautious of. This over-representation of rentals may lower returns in the long run and could impact the overall appeal of the neighbourhood.

    On a positive note, only 17% of the properties in North Hobart are units, which is a favourable indicator as markets oversaturated with units are often at risk of price drops and high competition.

    In terms of affordability, the index for North Hobart is slightly less appealing, with an estimated 38 years required to fully own a property. This may suggest decreased affordability in the area that could potentially deter some buyers.

    When analysing supply, the stock on the market percentage for houses is relatively low at 0.19%, indicating favourable conditions for sellers. The inventory level of only 1.0 month signals a quick turnover of properties on the market – a promising sign for investors. The building approvals ratio for houses sits at 0%, indicating no new supply entering the market soon.

    Demand metrics, however, paint a somewhat different picture. The average number of days houses spend on the market is fairly high at 162 days, which may point to a lower demand. Yet, the vacancy rate, combining both houses and units, is a favourable 1.26%, suggesting strong occupancy levels. The buy search index for houses being at 4 falls into the neutral range, hinting at a balanced demand level.

    It’s crucial for potential investors to consider these metrics along with trend analysis and up-to-the-minute market developments. Using tools such as the HtAG Analytics’ Relative Composite Score can streamline this process, taking into account over 80 metrics for a comprehensive overview of the property market.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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