Property CitySANDY BAY

Sandy Bay property market

Sandy Bay, one of Hobart’s most sought-after suburbs, continues to offer a dynamic property market with a diverse range of opportunities for buyers and investors. As of last month, there were 61 properties available for rent and 94 properties listed for sale, reflecting strong market activity in this premium waterfront suburb.

Over the past year, median property prices in Sandy Bay have varied significantly between property types. Houses have maintained a median price of $1,312,500, reinforcing the suburb’s reputation as an affluent and desirable location. Meanwhile, units have presented a more affordable entry point into the market, with a median price of $680,000.

For investors, rental returns in Sandy Bay offer steady income potential. Houses in the suburb currently command an average rent of $672 per week, translating to an annual rental yield of approximately 3.2%. Units, on the other hand, generate an average rental income of $480 per week, with a stronger rental yield of 4.3%. These figures suggest that while houses offer long-term capital growth potential, units may provide better immediate returns for investors focused on rental income.

Looking at long-term market trends, Sandy Bay has shown a mixed pattern of growth. House prices have recorded an impressive annual compound growth rate of 4.8%, reflecting strong demand and resilience in the market. However, unit prices have experienced a decline, with a negative compound growth rate of -7.6%. This could present opportunities for buyers looking to secure a unit at a lower price with the potential for future market recovery.

Overall, Sandy Bay remains a premium location in Hobart’s real estate market, offering both prestige and investment potential across different property types.

Market trends

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

* Data based on sales within the last 12 months