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PROPERTY
SCOTT
NEWTON
Tasmanian real estate punches above weight
Knight Frank department
manager for residential sales
Mathew Chugg gives an update on the Tasmanian residential market and the reasons to invest in Tasmania in
this month’s editorial.
C
APITAL city price growth has been
stronger in Hobart than anywhere
else in Australia. This was the message to property owners in the nation’s
southernmost city from Knight Frank’s latest Global Residential Cities Index.
The Q2 report tracked residential price
movements across 150 cities worldwide.
Hobart came in number 13 on the global list
with 10.8 per cent growth, while Sydney
was ranked 20th with 9.4 per cent growth
followed by Melbourne at 37th and Canberra
at 39th.
Although it has been a challenging year,
the local market has shown buoyancy and
resilience. Several factors played a role
in Hobart’s strong showing in the index
including Tasmania being an island state,
which meant the government was able to
shut our borders and get the coronavirus
under control very quickly. The lockdown
was short compared to other cities and life
got back to something near normal quickly.
This made Tasmania even more sought
after in the eyes of interstate purchasers and
we have seen an increase of sight unseen
purchasers in the market.
A major area of growth has been land
sales due to high population growth.
State and Federal government stimulus
packages for new builds and home prices
are still relatively low compared with the
mainland. Tasmania is now on top spot for
dwelling starts and in the June quarter starts
were 9.5 per cent above the decade average.
The Tasmanian market is also being
driven by factors amplified by the
pandemic. There is a renewed value that has
been put on family and the people that are
important to us and this has been a major
driver with purchasers moving back to
Tasmania. More than ever before people are
making choices to live in Tasmanian outside
their career and monetary reasons.
One of the real positives to come from
COVID is the increased use of technology.
Most employees/employers now have the
capacity to work from home which means
you can live just about anywhere.
Running virtual inspections has become
the new normal and real estate businesses
have invested into new technologies to
ensure we can continue to transact and
show property to purchasers from interstate
and overseas unable to visit.
There are many positive signs to suggest
Tasmania will continue to lead the way
during and post COVID. Interest rates
continue to remain very low; population
growth is set to continue, and the state is
performing well economically. All this
combined with the natural beauty of the
island and its lifestyle options gives great
optimism to the future property market.
PROPERTY VIEW
November 2020
Invest in Tasmania’s booming aquaculture industry.
488-496 Freestone Point Road, Triabunna
Strong net yield
263 Kennedy Drive, Cambridge
Business For Sale Expressions of Interest
For Sale by Expressions of Interest
Substantial net
income
Eye Spy Signs.
Plenty of upside
Wale of 8 years
Above average
yield
Large customer
base
Spring Bay Seafoods is a major player in the industry
and hold a number of unique aquaculture licences
and leases located on the east coast of Tasmania.
Also included is freehold waterfront land over 6.75 ha,
buildings and improvements. The assets are leased to
two well known Australian companies.
An opportunity to acquire Tasmania’s leading road and
general signage contracting company with very strong
market share.
Bothwell Garage - Freehold and Business.
Prized corner position in the heart of North Hobart.
In association with
John Blacklow 0418 128 735
Scott Newton 0409 186 261
John Blacklow
0418 128 735
16 Patrick Street, Bothwell
365 Elizabeth Street, North Hobart
For Sale by Negotiation
On site 3 Bdrm
residence
First time in 25 years. Currently owner operated, the
business and freehold are on offer. Recent upgrades
in point of sale equipment and fuel equipment
ensure easy running of the business. Operating as an
independent fuel outlet with income from the business
and tenants with consistent increased turnover.
Ian Reed 0419 670 501
Zoning: “General
Business”
5 Victoria Street, Hobart
P: 03 6220 6999
20 TASMANIAN BUSINESS REPORTER, November 2020
2 off street
car parks
Site area:
310 sqm*
A rare opportunity to purchase this ‘blank canvas’ gem
within the thriving North Hobart commercial strip.
Formerly occupied by the CBA for many years, the
property is being sold vacant possession.
Matthew Wright 0458 290 588
Scott Newton 0409 186 261
54 Cameron Street, Launceston
P: 03 6333 7888
*Approx
Over 770 sqm*
For Sale by Expressions of Interest
*Approx
High turnover
business
Matthew Wallace
0418 136 086
Outline indicative only
48-54 Oldaker Street, Devonport
P: 03 6424 3568
