Old Beach is a peaceful suburb offering picturesque riverfront views and spacious living. Its proximity to both nature and Hobart’s CBD makes it a sought-after location for those who enjoy a quieter life without sacrificing convenience. The suburb features modern homes and ample green spaces. Discover the tranquil charm of Old Beach with Nest Property.
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Old Beach property market
Old Beach, located along the eastern banks of the River Derwent and just 25 minutes from Hobart’s CBD, continues to attract buyers and investors with its combination of natural beauty, modern housing, and suburban tranquillity. In the past month, the local market saw 6 properties available for rent and 27 properties listed for sale, indicating a moderately competitive market with limited rental supply.
Over the past 12 months, house prices in Old Beach have remained strong, with a median sold price of approximately $715,000. While still relatively affordable compared to Hobart’s inner suburbs, this price point reflects the area’s rising popularity among families and professionals seeking space, privacy, and a peaceful riverside lifestyle.
For property investors, Old Beach offers solid rental returns with room for long-term growth. Houses typically rent for around $590 per week, generating a gross rental yield of 4.5% per annum, a respectable return in a stable and family-friendly market. Units perform even better on a yield basis, renting for approximately $500 per week, which equates to a gross yield of 5.6%—highlighting strong demand for low-maintenance, affordable rental accommodation.
When it comes to capital growth, Old Beach has posted a compound annual growth rate (CAGR) of 1.7% for houses over the past year. While this growth is modest, it reflects the suburb’s steady performance and potential for long-term value appreciation, particularly as demand continues to shift toward lifestyle suburbs on the fringes of Hobart.
In summary, Old Beach offers a balanced opportunity for both homeowners and investors—with spacious housing, attractive rental returns, and steady growth prospects. Its scenic outlooks, growing local amenities, and proximity to major employment centres make it a smart choice for those looking to secure property in a quiet, well-connected part of southern Tasmania.
Market trends
View median property prices* in Old Beach to get a better understanding of local market trends.
*Data based on sales within the 12 months to July 2025.