A joint study by Aussie Home Loans and CoreLogic has revealed the most affordable suburbs across Hobart, which continues to have the strongest housing market across Australia’s capital cities, with property values rising 7.2 per cent over the 12 months ending February 28, 2019.
CEO of Aussie, Mr James Symond, said “Although values are still rising, some heat as left the Hobart property market, resulting in longer selling times for vendors and higher discounting rates. After a strong run of value growth, Hobart can no longer claim to be Australia’s most affordable capital city for housing, however it still offers a broad range of inexpensive housing options.”
Across the metropolitan area of Hobart there are seven suburbs with a median house value under $300,000. Gagebrook, located within the Brighton council area, has the lowest median house value at $217,278. The unit market offers more affordability, with every suburb in the top 20 offering a median unit value below $380,000, with the most affordable suburb being Bridgewater at $227,020.
There are suburbs with a median house value under $300,000 located within 10km of Hobart’s city centre. Risdon Vale and Clarendon Vale have median house values of $261,661 and $271,897 respectively, and there are a further eight suburbs within 10km of the city with a median house value under $400,000.
Across the unit market, 15 of the top 20 most affordable suburbs within 10km of the city are recording a median value under $400,000. Glenorchy is the lowest, with a median value of $265,594.
“If you’re saving up to buy your first home or investment property, now’s a great time to speak with an Aussie Broker. Our report reveals some quality affordable housing in suburbs across Hobart, and with record low interest rates buying a property could be more achievable than you know,” said Mr Symond.
All customers who attend a free appointment with an Aussie Broker before 30 April 2019 will go in the draw to win $15,000*. To view the full Aussie/CoreLogic Most Affordable Suburbs report, visit www.aussie.com.au/mostaffordablesuburbs or contact an Aussie Broker for your free copy.
*T&Cs apply, see aussie.com.au/promotions for details.