West Hobart is a trendy and lively suburb known for its bohemian atmosphere, popular cafés, and arts scene. It’s favoured by young professionals and families for its close proximity to the city and vibrant community life. West Hobart offers a mix of historic homes and new developments, providing a stylish urban lifestyle. Explore living in West Hobart with Nest Property.
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West Hobart property market
West Hobart, perched on the hills overlooking the city and the River Derwent, remains one of Hobart’s most desirable and character-filled suburbs. Known for its historic homes, leafy streets, and proximity to the CBD, the area continues to attract a wide mix of residents, from professionals and families to long-term investors. Over the past month, the market saw 33 properties available for rent and 28 properties listed for sale, highlighting ongoing demand and a competitive environment for buyers and tenants alike.
Over the last 12 months, median property prices in West Hobart have reflected the suburb’s enduring appeal. Houses are currently selling at a median price of approximately $935,000, while units offer a more affordable alternative with a median price of around $567,500. These values place West Hobart firmly in the upper tier of the Hobart market, a testament to its sought-after location and architectural charm.
For property investors, West Hobart offers moderate but stable rental returns. Houses typically rent for around $620 per week, delivering a gross rental yield of 3.8% per annum. Units in the area rent for approximately $475 per week, generating a higher yield of 4.6%, making them a potentially stronger option for investors focused on cash flow. Despite relatively modest yields compared to some outer suburbs, the prestige and consistency of the local market remain attractive to long-term investors.
When it comes to capital growth, West Hobart has shown mixed performance. Houses have experienced a solid compound annual growth rate (CAGR) of 2.7%, indicating steady long-term value appreciation. However, units have recorded a significant decline, with a CAGR of -9.2% over the past year, which may reflect a cooling in demand for smaller dwellings in the current market or a correction from previous price highs.
Despite these shifts, West Hobart remains one of the city’s most liveable and enduringly popular suburbs. With its combination of period architecture, vibrant community, quality schools, and walkable access to Hobart’s cultural and dining scenes, the area continues to deliver strong fundamentals for both owner-occupiers and investors. For those seeking stability, lifestyle, and long-term potential, West Hobart stands out as a blue-chip choice in the Tasmanian property market.
Market trends
View median property prices* in West Hobart to get a better understanding of local market trends.
*Data based on sales within the 12 months to July 2025.