Tranmere is a leafy riverside suburb on Hobart’s eastern shore, located about 14 kilometres east of the city centre. Nestled along the Derwent River, the area treats residents to sweeping water views and lovely sunsets, all amid quiet, green surroundings. It offers a mix of classic homes and modern builds, giving a welcoming and refined feel. While Tranmere doesn’t host a bustling commercial hub, it’s close to shops, cafés, and schools in neighbouring suburbs like Howrah and Rokeby. With reliable bus links to Hobart and a relaxed, nature-embraced charm, Tranmere delivers peaceful suburban living with easy access to urban life.
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Tranmere property market
The Tranmere property market last month recorded 2 properties available for rent and 14 listed for sale. Over the past year, the median sold price for houses was $1,137,500. For those considering an investment, houses in Tranmere rent out for around $700 per week with an annual rental yield of 4.0%, while units rent for approximately $680 per week, returning a yield of 4.5%. The suburb has experienced an annual compound growth rate of -5.2% for houses.
Tranmere is well regarded for its waterfront lifestyle, offering stunning views across the Derwent River towards Hobart’s cityscape and Mount Wellington. With a mix of modern family homes and architect-designed residences, the area appeals to professionals and families looking for space, privacy, and proximity to Hobart. Even with recent softening in house price growth, Tranmere’s combination of lifestyle and investment potential makes it a sought-after location.
Market trends
View median property prices* in Tranmere to get a better understanding of local market trends.
*Data based on sales within the 12 months to August 2025.