Our most in demand suburbs revealed

Inquiry in these greater Hobart suburbs has grown substantially — and in some cases, demand has soared by more than 45 per cent year-on-year.

West Hobart houses and Bellerive units are what buyers want most. Picture: ROGER LOVELL

A POPULAR city suburb and a leading Eastern Shore market have topped the charts for Tassie’s most in-demand neighbourhoods.

The latest data from realestate.com.au has revealed West Hobart is Hobart’s most popular suburb with potential buyers looking for houses.

Neighbouring South Hobart, top-end Battery Point and the ever popular Lindisfarne and Bellerive rounded out the top five house-buying markets.

In the unit sector, Bellerive was No.1 with property seekers followed by South Hobart, Hobart, Sandy Bay and Kingston.

When looking at the percentage of growth in demand, West Moonah recorded the largest change with a 46 per cent uptick (houses). Bridgewater, Midway Point and Brighton all recorded a change above 30 per cent.

West Hobart is Hobart’s most popular suburb with house hunters.

In the unit sector it was Bellerive that was ranked No.1.

Claremont recorded the largest change in the unit market (31 per cent), followed by Blackmans Bay (24 per cent), Hobart (18 per cent) and Kingston (14 per cent).

Real Estate Institute of Tasmania president Mandy Welling said there were “no real surprises” with the “in demand” sections for houses.

She said inner-city suburbs such as West Hobart, South Hobart and Battery Point would always be “highly sought-after and on point”.

“It’s great to see the marketplace still so attracted to these areas even with the growing margins,” she said.

“Addressing the percentage of demand — and the ever-increasing medians in areas such at North Hobart, New Town and Lenah Valley — I think the line between these suburbs and West Moonah is starting to blur. West Moonah is coming into her own.

“Bridgewater was another standout and I would align that with affordability.

“It is popular with first-home buyers and investors. The rate of return is very attractive for investors in this suburb.”

Mandy described Bellerive’s unit market as a standout performer.

She said the recent development of strata properties in this increasingly popular suburb had seen an almost surge-like attraction to units and villas.

“Units are quickly encroaching and overtaking house sale prices in this suburb also,” she said.

“A high percentage of properties for sale in Bellerive are currently units.”

Mandy said demand for Claremont and Blackmans Bay units was a wonderful sign that buyers were prepared to travel a fraction further to achieve their dream.

“Although prices are surging forward in Claremont, value for money is still on offer and represents great buying for first-home buyers and families,” she said.

“Blackmans Bay offers phenomenal views without the prices of areas such as Kingston Beach, Taroona and Sandy Bay; it is creeping up there, though.”

A beach lifestyle is always in demand.

High demand often goes hand-in-hand with, or is quickly followed by, price growth.

In its Market Trends report, realestate.com.au’s data showed West Moonah’s annual median house price and Claremont’s unit values were zooming at 14.4 per cent growth and 15.1 per cent growth.

It revealed a 2.1 per cent annual house median growth in West Hobart, while South Hobart houses were up by 4.5 per cent, Battery Point 9.4 per cent, Lindisfarne 0.6 per cent and Bellerive 7.6 per cent.

Originally published as Our most in demand suburbs revealed