Lenah Valley (and surrounding suburbs)

 
Our thoughts
Lenah Valley is situated 5km North West of Hobart and is at the foothills of Mt Wellington. Lenah Valley is surrounded by Moonah, New Town, Mt Stuart and North Hobart. 
 
Like Hobart as a whole, Lenah Valley and surrounding suburbs fall into the 'Start of Recovery' phase of the property cycle. We are excited by the fact that the past 12 months has only seen 1.62% capital growth - especially given that Hobart as a whole has risen 11.71% over the same period. 
 
The local government area is Hobart City. The population of Lenah Valley in 2006 was 5,589 and in 2011 it was 5,853 showing a steady increase over the 5 year period.
 
It is approximately a 15-minute journey by bus into the Hobart CBD. To the North is Northgate Shopping Centre (6km) and to the South is Centrepoint Shopping Centre (5km). 
 
Housing in Lenah Valley and surrounding suburbs is generally a mix of older style weatherboard houses and double brick. There are signs pointing to these properties being renovated, but this is still in its infant years.
 
The median average house price for a 3 bedroom house in Lenah Valley is $420,000.
 
Supply in Lenah Valley is extremely tightly held, which can be a good thing - it does, however, mean that there is high demand for property in the area. With this being the case, we would not limit our search to just Lenah Valley, but to neighbouring suburbs such as Moonah, New Town, Mt Stuart and North Hobart. These suburbs rank similarly to Lenah Valley when using our suburb identifiers and we'd be comfortable to recommend properties that match your brief in these areas if they did arise.
 
Typically properties in your price range require minor cosmetic work. We will identify these needs when presenting properties with a summary of the required works and estimate the cost associated with that. If we do progress and the renovations are something that you'd like to progress with, we would supply you with a full financial feasibility study.
 
Suburb data
Click here

The Numbers

 

Vacancy Rates

0.71% of properties in Lenah Valley

are unoccupied. We don't like the rate to be above 2%.

Increasing/Decreasing

Vacancy Rates 

The vacancy rates in Lenah Valley

are decreasing. This is good because it shows demand is getting stronger.

Increasing/Decreasing Population

The population has shown a steady increase since 2006 showing continual growth in the area.

Average Days on Market

76 days on average to sell a

3 bed home. Hobart overall

has an average of 81.

 

Auction Clearance Rates

66.7% of properties that go to

auction sell. Hobart overall

has a 66.8% clearance rate.

Ratio of Renters to Owner Occupied

25% are renters / 75% are owner occupied. We like renters to be under 35%.

Supply vs. Demand

DSR (Demand Supply Ratio) score of 76. The DSR is a number out of 100 that gauges the demand relative to supply for a residential property market. We look for this to be always over 50. 60 is great, 70 is excellent.

 

Median House Price (3 Bed)

$415,136

 

Last 12 & 36 Month Capital Growth

1.62% / 18.42%

 

Current Area Rental Yield 

5%

 

1/3

Hobart

Suburb due-diligence

Hobart

 
Below is the regions we have hand picked in Hobart that meet our investment criteria, but also, more importantly, meet your brief mandataries and budget. 
We have listed two regions; Lenah Valley and surrounding suburbs and Lindisfarne and surrounding suburbs. We have provided our top-line thoughts, links to further suburb data and a selection of properties currently on the market for reference. We detail the region stats that matter and a map so you can get a better understanding of its locality.
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The Numbers

 

Vacancy Rates

0.8% of properties in Lindisfarne

are unoccupied. We don't like the

rate to be above 2%.

 

Increasing/Decreasing

Vacancy Rates 

The vacancy rates in Lindisfarne have remained steady. 

 

Increasing/Decreasing Population

Population has remained steady from 2006 through to 2011.

 

Average Days on Market

63 days on average to sell a

3 bed home. Hobart overall

has an average of 81.

 

Auction Clearance Rates

66.7% of properties that go to

auction sell. Hobart overall

has a 100% clearance rate.

 

Ratio of Renters to Owner Occupied

24% are renters / 76% are owner occupied. We like to see under

35% of renters in the area.

 

Supply vs. Demand

DSR (Demand Supply Ratio) score of 82. The DSR is a number out of 100 that gauges the demand relative to supply for a residential property market. We look for this to be always over 50. 60 is great, 70 is excellent

 

Median House Price (3 Bed)

$424,545

Last 12 & 36 Month Capital Growth

4.8% / 3.42%. This perfectly illustrates that Hobart is at the start of the recovery in the property cycle.

 

Current Area Rental Yield 

4.80%

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Lindisfarne (and surrounding suburbs)

 
Our thoughts
Lindisfarne is situated 6.4km North East of Hobart and is on the Eastern Shore looking back over Hobart City. Lenah Valley is surrounded by Rosny, Rose Bay and Geilston Bay. 
 
Like Hobart as a whole, Lindisfarne and surrounding suburbs fall into the 'Start of Recovery' phase of the property cycle. The past 12 months has only seen very strong growth indicating the start of the recovery phase. The past 12 months capital growth was 4.8%. When you compare this to the last three years growth of only 3.42%, we can identify a real shift in growth in the area - which is a great sign for investment.
 
The local government area is the City of Clarence. The population of Lindisfarne in 2006 was 5,679 and in 2011 it was 5,641.
 
It is approximately a 22-minute journey by bus into the Hobart CBD. To the South is Eastlands Shopping Centre (3.5km).
 
Housing in Lindisfarne and surrounding suburbs is generally a mix of older style weatherboard houses and double brick. In comparison to Lenah Valley, there is more evidence of renovated properties. This primarily is due to the waterfront location of the suburb in comparison the Lenah Valley which is further inland.
 
The median average house price for a 3 bedroom house in Lindisfarne is $420,000.
 
Supply in Lindisfarne is very very limited, which can be a good thing - it does, however, mean that there is high demand for property in the area. With this being the case, we would not limit our search to just Lenah Valley, but to neighbouring suburbs such as Rosny, Rose Bay and Geilston Bay. These suburbs rank similarly to Lindisfarne when using our suburb identifiers and we'd be comfortable to recommend properties that match your brief in these areas if they did arise.
 
Typically properties in your price range require minor cosmetic work. We will identify these needs when presenting properties with a summary of the required works and estimate the cost associated with that. If we do progress and the renovations are something that you'd like to progress with, we would supply you with a full financial feasibility study.
 
Suburb data
Click here