Property CityBLACKMANS BAY

Blackmans Bay property market

Blackmans Bay, a picturesque coastal suburb just south of Hobart, continues to offer a steady property market with a range of opportunities for buyers and investors. As of last month, there were 12 properties available for rent and 55 properties listed for sale, reflecting moderate market activity in this highly desirable residential area.

Over the past year, property prices in Blackmans Bay have varied between houses and units. The median price for houses currently stands at $870,000, highlighting the suburb’s appeal among families and lifestyle-focused buyers. Meanwhile, units offer a more affordable option, with a median price of $596,000, making them an attractive choice for downsizers, first-home buyers, and investors.

For those considering investment opportunities, Blackmans Bay provides solid rental returns. Houses in the suburb rent for an average of $595 per week, delivering an annual rental yield of approximately 3.8%. Units, on the other hand, generate an average weekly rent of $485, with a stronger rental yield of 4.6%. These figures suggest that while houses may offer better long-term capital appreciation, units provide a higher immediate return for investors focused on rental income.

Examining long-term market trends, Blackmans Bay has demonstrated modest but positive growth in the housing sector, with an annual compound growth rate of 2.4%. However, unit prices have experienced a decline, with a negative compound growth rate of -5.0%. This downturn may present a strategic opportunity for buyers looking to enter the unit market at a lower price with potential for future recovery.

Overall, Blackmans Bay remains a sought-after suburb, offering a blend of coastal lifestyle, strong community appeal, and investment potential across different property types.

Market trends

View median property prices in Blackmans Bay to get a better understanding of local market trends.

* Data based on sales within the last 12 months