Nest Property Hobart
03 6224 2004
03 6224 2004

Property CityGEILSTON BAY

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Geilston Bay is a quiet suburb located on the eastern shore of the Derwent River, known for its natural beauty and tranquil environment. With a range of housing options from waterfront properties to cosy family homes, it caters to diverse tastes and needs. Geilston Bay is perfect for those seeking a peaceful lifestyle close to nature. Find your peaceful retreat in Geilston Bay with Nest Property.

Geilston Bay property market

Geilston Bay, a peaceful suburb located on Hobart’s Eastern Shore, continues to attract attention from buyers and investors seeking a balance of lifestyle, affordability, and proximity to the city. Set against a backdrop of river views and natural bushland, this family-friendly suburb is just 15 minutes from the Hobart CBD. Over the past month, the local market saw 13 properties available for rent and 20 properties listed for sale, indicating steady market activity with a relatively tight level of stock.

In the past 12 months, median property prices in Geilston Bay have reflected its growing popularity. Houses are selling at a median price of approximately $731,250, while units offer a more budget-friendly option at a median of $558,000. These figures suggest continued demand, especially among families and professionals looking for space and value near Hobart.

For property investors, Geilston Bay offers healthy rental returns and solid tenant demand. Houses typically rent for around $627 per week, providing a gross rental yield of 4.7% per annum. Units perform similarly, renting for about $565 per week, which equates to a gross yield of 4.6%. These figures point to consistent rental performance, particularly in a suburb with strong appeal for long-term tenants.

In terms of capital growth, the suburb has delivered mixed results. Houses have performed well, recording a compound annual growth rate (CAGR) of 6.4%, reflecting steady value appreciation in the standalone housing market. Units, however, have declined, with a CAGR of -6.2%, which may signal a shift in buyer preferences toward larger homes or a market correction following earlier gains.

Overall, Geilston Bay remains a solid performer in the Hobart property market, offering a desirable mix of lifestyle, rental yield, and growth potential. With its natural surroundings, easy access to schools, shops, and the city, and consistently strong demand from renters, the suburb presents an appealing opportunity for investors and homebuyers alike.

Market trends

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

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*Data based on sales within the 12 months to July 2025.

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