South Hobart is rich in history and community spirit, nestled at the foothills of Mount Wellington. This suburb blends historic charm with contemporary living, featuring a variety of shops, cafes, and art studios. South Hobart is ideal for those who appreciate a close-knit community atmosphere with easy access to natural surroundings. Check out Nest Property’s listings to make South Hobart your new home.
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South Hobart property market
South Hobart, nestled at the base of kunanyi/Mount Wellington and just minutes from the CBD, remains one of Hobart’s most desirable and tightly held suburbs. Known for its blend of natural beauty, heritage charm, and close-knit community atmosphere, South Hobart continues to appeal to professionals, families, and lifestyle-focused buyers. Over the past month, the suburb recorded 16 properties available for rent and 28 properties listed for sale, indicating a relatively active market with limited rental stock and strong ongoing interest.
Over the last 12 months, median property prices have remained strong, particularly for freestanding homes. Houses in South Hobart currently have a median price of around $863,000, while units are significantly more affordable, with a median price of approximately $535,000. This price disparity reflects the premium placed on traditional homes in the area, many of which boast character features, generous blocks, and sought-after views.
For property investors, South Hobart offers steady and reliable rental demand, though yields tend to reflect the suburb’s premium status. Houses rent for about $550 per week, delivering a gross rental yield of 3.9% per annum, while units achieve stronger returns, renting for around $485 per week and generating a yield of 4.7%. These figures point to consistent tenant interest, especially among young professionals and downsizers drawn to the suburb’s proximity to the city, cafes, parks, and schools.
In terms of capital growth, the performance of the suburb has been mixed by property type. Houses have performed exceptionally well, recording a compound annual growth rate (CAGR) of 8.8%, reflecting strong long-term demand and a limited supply of heritage and family homes. In contrast, units have seen a notable decline, with a CAGR of -10.8%, suggesting a possible market correction or shifting preferences among buyers.
Overall, South Hobart remains a blue-chip suburb in Hobart’s property landscape. With its unbeatable location, character homes, and strong community feel, it continues to attract premium interest from both buyers and renters. While rental yields are moderate, the potential for long-term capital growth—particularly for houses—makes South Hobart a compelling option for investors focused on asset appreciation in a high-demand location.
Market trends
View median property prices* in South Hobart to get a better understanding of local market trends.
*Data based on sales within the 12 months to July 2025.