Bellerive is famous for its stunning views of Hobart skyline and the Derwent River, its beautiful beaches, and historic Bellerive Oval. This suburb offers a mix of old and new properties, including waterfront homes that are highly prized. Bellerive’s charm and its vibrant community make it a top choice for buyers seeking a dynamic lifestyle. Explore living in Bellerive with Nest Property.
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Bellerive property market
Situated just across the Derwent River from Hobart’s CBD, Bellerive is one of the Eastern Shore’s most desirable suburbs, offering stunning waterfront views, a relaxed lifestyle, and quick access to the city. In the last month, Bellerive recorded 19 properties available for rent and 25 properties listed for sale, highlighting relatively tight market conditions, particularly for buyers.
Over the past year, median property prices in Bellerive have remained at the higher end of the Hobart market. Houses in the suburb currently command a median price of $880,000, reflecting the area’s strong lifestyle appeal and premium location. Units, meanwhile, are more affordable, with a median price of around $572,000, providing a more accessible entry point into this prestigious suburb.
For those exploring investment opportunities, Bellerive offers competitive rental returns across both property types. Houses typically rent for around $615 per week, delivering an average gross rental yield of 4.6% per annum. Units also perform well, with an average weekly rent of $492, matching houses with an identical rental yield of 4.6%. These solid yields reflect strong ongoing demand for rental accommodation in the area.
Looking at long-term capital growth, the market in Bellerive has shown varied performance. Houses have recorded a positive compound annual growth rate (CAGR) of 3.5%, indicating steady appreciation in value over time. Units, however, have experienced a slight decline, with a CAGR of -2.2%, suggesting a softer market for attached dwellings in recent years. This may present a window of opportunity for investors looking to buy in at a more favourable price point.
Overall, Bellerive continues to be a high-demand suburb with a compelling mix of lifestyle, convenience, and investment potential. Its combination of strong rental yields, scenic location, and close proximity to central Hobart make it an enduring favourite for both owner-occupiers and savvy investors alike.
Market trends
View median property prices* in Bellerive to get a better understanding of local market trends.
*Data based on sales within the 12 months to July 2025