Hobart Property Market and Real Estate Guide
(Hobart, Tasmania - TAS, Australia)
Presiding over a large harbour in the south of Tasmania, Hobart, the state capital, is a fine place to buy or rent, as prices are cheap and it really is a very attractive city. Hobart is both historic and modern, with a lovely watery setting that is split up into several pleasant districts.
In addition, services and public transport infrastructure are excellent and in line with other Australian capitals. There are also several world-class beaches nearby and the countryside is wholly accessible, to boot.
Buying property in Hobart is a good investment, as the market here is one of Australia's most resilient. The price of housing is roughly half that of Sydney
, for comparable areas of the two cities, although renting can work out to be expensive and is not proportional to the cost of housing.
The Hobart waterfront is the top place to buy or rent in the Tasmanian capital, since it has great views and superb shopping and dining options. It is also historic and has undergone significant renovation of late. Another nice, slightly cheaper area to be is Mount Wellington, in the south of the city, while Derwent Valley is to the north and equally appealing. Cheaper property is best sought along the Eastern Shore and further north.
Renting Serviced Apartments
Although houses are relatively cheap in Hobart and the rest of Tasmania when compared with those on the mainland, the cost of renting is actually quite expensive. Prices have been on the rise of late, while prices in some mainland cities are on the wane.
While rentals in Hobart are rarely furnished, serviced apartments come fully furnished and include fitted kitchens and en-suite bathrooms. The top area for renting serviced apartments in Hobart is Battery Point where there are nice waterfront views, while Sandy Bay is a bit more upmarket and North Hobart cheaper.
Buying Apartments and Houses
Foreigners can buy houses in Hobart without restriction, unless they want to buy-to-let. There are several charges, such as land transfer registration fee, title deed registration, and various municipal rates. It is important to remember that the seller should pay the land tax.
Buyers will have to wait 30 days while the contract is being reviewed by the FIRB. Buying apartments and houses in Hobart is a good investment, as property values are currently still way below those in the big mainland cities and are clearly on the up.
Real Estate Agents
There is no hard and fast rule for choosing real estate agents in Hobart and there are many professional services in this part of Tasmania. It is best to choose an agent that has been established for a number of years and has a website, so that you can check out prices, fees and listings before contacting them.
Some useful Hobart real estate agents:
Blu Edge Property
Address: 15 Hunter Street, Hobart, Tasmania (TAS), 7000, Australia
Tel: +61 (0)3 6234 2400
A boutique real estate agent since 2003, Blu Edge Property is in Sullivans Cove and has several years' experience in real estate and finance.
Elders - Brown and Banks
Address: 147 Elizabeth Street, Hobart, Tasmania (TAS), 7000, Australia
Tel: +61 (0)3 6231 0400
Elders is a popular Australian real estate agent for buying, selling and renting in and around the Hobart area. Their website features handy tools.
Address: 93 Salamanca Place, Battery Point, Hobart, Tasmania (TAS), 7004, Australia
Tel: +61 (0)3 6224 7090
Featuring a team of professionals at an enviable locale at Battery Point.