Derwent Park is an industrial and residential suburb, ideal for those who want to live close to their workplace. With easy access to major roadways and public transport, it’s a convenient choice for professionals. The suburb offers a range of affordable housing options, making it suitable for first-time buyers and young families. Check out the opportunities in Derwent Park with Nest Property.
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Derwent Park property market
Derwent Park, a small yet strategically located suburb just north of Hobart, continues to attract attention for its affordability, accessibility, and solid investment potential. Positioned between Moonah and Glenorchy, Derwent Park benefits from close proximity to major retail precincts, transport links, schools, and employment hubs. Last month, the market remained relatively quiet, with 2 properties available for rent and 9 properties listed for sale, reflecting a compact but active local market.
Over the past 12 months, houses in Derwent Park have sold at a median price of approximately $505,550, making it one of the more affordable suburbs within Greater Hobart. With a mix of older brick homes, modernised properties, and development potential, Derwent Park is increasingly appealing to first-home buyers, investors, and those looking for value near the city.
For property investors, Derwent Park offers attractive rental returns. Houses in the suburb are currently renting for around $510 per week, resulting in a gross rental yield of 5.2% per annum—a healthy figure, especially given the suburb’s proximity to Hobart’s CBD and strong local infrastructure.
In terms of capital growth, Derwent Park has delivered a modest compound annual growth rate (CAGR) of 1.6% for houses over the past year. While not rapid, this steady growth reflects consistent demand and the suburb’s appeal as a lower-entry option within an increasingly competitive metropolitan market.
Overall, Derwent Park offers a well-rounded opportunity for both investors and owner-occupiers, combining affordability, location, and rental strength. Its accessibility to major roads, public transport, and commercial hubs makes it an ideal choice for those looking to secure a foothold in Hobart’s northern corridor with good long-term potential.
Market trends
View median property prices* in Derwent Park to get a better understanding of local market trends.
*Data based on sales within the 12 months to July 2025.