Rose Bay is a thriving suburb nestled on the eastern shore of the River Derwent, located just about 4 kilometres from Hobart’s city centre. Known for its laid-back residential ambiance, the area offers lovely waterfront views, abundant parkland, and a strong sense of community. With a blend of charming homes and modern residences, Rose Bay features scenic foreshore trails, easy access via the Tasman Bridge, and delightful natural surroundings—making it an ideal choice for families, professionals, or retirees who value peace, connection to water, and proximity to urban amenities.
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Rose Bay property market
The Rose Bay property market last month recorded just 1 property available for rent and 1 property for sale, highlighting its tightly held nature. Median house prices over the past year reached $1,038,750, reflecting the suburb’s strong appeal and premium position on the Derwent River.
For investors, Rose Bay offers solid rental opportunities, with houses leasing for around $595 per week and providing an annual rental yield of 4.2%. The suburb has also experienced impressive long-term growth, with an annual compound growth rate of 17.6% for houses, making it an attractive choice for those seeking capital appreciation alongside rental returns.
With its sought-after waterfront location, close proximity to Hobart’s CBD, and stunning views across the river to kunanyi/Mount Wellington, Rose Bay continues to draw interest from both families and investors who value lifestyle and long-term value.
Market trends
View median property prices* in Rose Bay to get a better understanding of local market trends.
*Data based on sales within the 12 months to August 2025.