News Corp Australia Network
If purchasing a property is high on your To Do list this year, now is the right time to zero in on greater Hobart’s hottest suburbs.
And in the city, there is a specific area that is shining bright in the face of pressures like cost of living increases and further interest rate hikes: the Eastern Shore.
Novo PropTrack statistics have revealed four of the five most popular suburbs — with quarterly price growth and strong demand from buyers — are located on the east side of the Derwent River.
PropTrack’s data ranked the suburbs by their potential buyers — highly engaged property hunters — per house listing.
Richmond
In Hobart, the median number of potential buyers per house listing is 33. In regional Tasmania, it is slightly lower at 30.
But No.1 on the suburbs to watch list, Richmond, more than doubled that baseline with 70 buyers per listing.
The data showed 3.9 per cent quarterly growth and a median of $940,000 in Richmond.
Richmond resident and Exceed Property director, Mandy Welling, said Richmond has long been a suburb with a shortfall of available homes to satisfy the buying market.
However, a large residential subdivision has assisted in subduing the demand, she said.
“There is more land for sale in the Richmond area than I can ever remember. The Richmond Village land is a great opportunity for buyers to purchase in this tightly held town, which is notorious for a short supply of available stock,” Mrs Welling said.
“Prices continued to climb and interest was consistent last year, albeit quieter than in 2021.
“With the historic values of the town and the appeal of semi-country/rural living still high on the list of many consumers, we expect the 2023 market to be consistent and produce good results.
“Along with the wonderful cafes, hotel and bakery, the suburb is flanked by amazing vineyards.
“Its fair to say the suburb is sought after by most buyers for the lifestyle factor. It has the feeling of community and a small country town, while only being a 25-minute drive to the Hobart CBD.
“Richmond is full of character and it is peaceful. There is also a ‘buzz’ around the main street as tourists explore the town.”
Midway Point
Midway Point was the next in-demand suburb with 41 potential buyers per listing. Its growth for the three-month period was 5.2 per cent with the median reaching $686,000.
Risdon Vale and Chigwell
Risdon Vale in Chigwell had 33 buyers. Risdon Vale’s growth was 2.2 per cent, while Chigwell pushed 0.7 per cent higher. Chigwell was more expensive at $533,000 compared to $482,000.
Sorell
Sorell had 32 potential buyers, 4.4 per cent growth and a $708,000 median house price.
Meanwhile, in regional Tasmania, the areas with the most potential buyers are all in the Launceston region headlined by West Launceston in St Leonards.
Both attracted 52 buyers per listing, and between 0.8 and 0.9 per cent quarterly growth.
West Launceston was more expensive, with a $647,000 median value, ahead of St Leonards at $608,000.
Newstead, Prospect in Trevallyn made up the top five with between 42 and 48 kupci. Growth in these areas ranged from 0.4 per cent to 2 per cent.
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- vir: https://www.realestate.com.au/news/tassies-top-suburbs-to-watch-in-2023/
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