Right off the south of Hobart, the upmarket and prestigious suburb of Sandy Bay waits in all its youthful energy and natural grandeur. Comfortable, convenient, classy: one buys real estate in Sandy Bay for the relaxed vibe it provides partnered with the ease of inner city living. Seasoned professionals rub elbows with the brightest students in the diverse and welcoming suburb that is Sandy Bay, enjoying the many amenities of the residential area. If you are looking for a place with a hassle-free urban lifestyle, then buying a house in the ever-exciting Sandy Bay must be for you.
Real Estate in Sandy Bay: By the Numbers
As with the latest census, Sandy Bay has just over 12,000 residents. Over 20% of this residents come from China and Malaysia, making it a diverse suburb. Of the total number of residents, the top three lifestyle groups are Independent Youths with 20%, Older Families and Couples with 19.3%, and Older Independents with 12%. The median age of residents here is 40, and the median income is $511 per week.
Currently, a real estate property in Sandy Bay has a median house price of $900,000. The 3-bedroom abodes cost $830,000 and the bigger, much spacious 4-bedroom homes are priced at $985,000 and upwards. This median house priced was based on last year’s 143 home sales, and has increased by 48.8% compared to the same time period of the last 5 years. It has an 8.3% compound annual growth rate.
The suburb also enjoys a high demand in renting, with the cost of rent in average at $595 per week. It costs $455 per week for 2-bedroom rentals, $598 per week for the 3-bedroom ones and upwards of $700 per week for 4-bedroom houses. Based on last year’s 164 rentals and 143 sales, Sandy Bays rental yield for houses sits at 3.4%.
Its performance in the real estate market has also been consistently strong through the years, averaging an outstanding 2963 visits per property, as compared to Tasmania’s state average of 1215 visits per property.
(Data from Realestate.com.au)
Why Choose Sandy Bay Real Estate
Businessmen, doctors, and lawyers flock this town along with students, artists, and retirees, all wanting a slice of life that can only be found in Sandy Bay. A great portion of this area holds the most expensive prices in the whole Tasmanian territory, co-existing with much more affordable areas surrounding it to cater to passing students and weekend tourists.
When not enjoying a walk in one of the many fine sand beaches in Sandy Bay, one might find himself downing a pint in the local pub, enjoying the local brew in the beachside cafes, or playing with Lady Luck in Wrest Point, Australia’s first legal casino. Notable Asian cuisine eateries can also be found here, among the multicultural shops in the strips. Aside from the University of Tasmania, other educational institutions here include the Hutchins School, Fahan School, and the Mt. Carmel College.
Single and two-storey homes are found here, among the classic colonial sandstones and modern-styled homes. There are also opportunities for redevelopment everywhere.
A prestigious suburb that prides itself on having a relaxed lifestyle with all the convenience of inner city, Sandy Bay has a lot to offer for everyone from all ages and professions.
Other Popular Suburbs in Tasmania
Other States in Australia
Other locations in Australia are equally as desirable as Tasmania. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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