Howrah is a popular suburb located on the eastern shore of the Derwent River, boasting panoramic views of Mount Wellington and Hobart’s cityscape. Its blend of beautiful beaches, parks, and residential areas makes it highly sought after by families and retirees. With its well-established community and excellent facilities, Howrah is an ideal location to buy a property. Nest Property can guide you to your ideal Howrah home.
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Howrah property market
Howrah, a thriving suburb located just east of Hobart, continues to offer a diverse and active property market. As of last month, there were 21 properties available for rent and 41 properties listed for sale, indicating steady turnover and demand in this well-established waterside community.
Over the past year, property prices in Howrah have shown notable variations between houses and units. The median price for houses currently stands at $730,000, making the suburb an attractive option for families and owner-occupiers seeking a balance between lifestyle and affordability. Meanwhile, units in Howrah have maintained a median price of $626,000, providing a more accessible entry point into the market for first-home buyers, downsizers, and investors.
For those looking to invest, Howrah presents appealing rental returns across both property types. Houses in the suburb rent for an average of $590 per week, offering a solid annual rental yield of 4.3%. Units, on the other hand, achieve an average weekly rent of $480, with a slightly higher rental yield of 4.6%. These figures suggest that while houses may provide long-term capital growth potential, units can deliver strong immediate returns for investors prioritizing rental income.
Examining the suburb’s long-term market trends, Howrah has experienced contrasting growth patterns between houses and units. House prices have seen a decline over the past year, with an annual compound growth rate of -9.9%, potentially creating opportunities for buyers looking to secure a property at a lower price. Conversely, unit prices have shown significant growth, recording an impressive annual compound growth rate of 8.9%, indicating strong demand and increasing value in the unit market.
Overall, Howrah remains a desirable suburb with a mix of lifestyle appeal, affordability, and investment potential, making it an attractive choice for a wide range of buyers and investors.
Market trends
View median property prices in Howrah to get a better understanding of local market trends.
| Bedrooms | Type | Median Price | Avg Days on Market | Clearance Rate | Sold this Year |
|---|---|---|---|---|---|
| 2 | House | $568k | 48 days | – | 18 |
| 3 | House | $693k | 55 days | – | 92 |
| 4 | House | $835k | 73 days | – | 49 |
| 5 | House | – | – | – | 9 |
| 2 | Unit | – | – | – | 8 |
| 3 | Unit | – | – | – | 9 |
* Data based on sales within the last 12 months