Question 1

Is Hobart a nice place to live?

Accepted Answer

Hobart sits on the Derwent River beneath kunanyi / Mount Wellington and is the island state's compact central suburb and waterfront heart. It blends Georgian and Victorian sandstone buildings and narrow Battery Point lanes with converted wharves and Salamanca Place’s historic warehouses, alongside more recent apartments and offices on the waterfront. Residents include public servants, students, creatives and city professionals who value close access to cafes, markets, galleries and the Tasmanian Museum and Art Gallery. Regular buses and river ferries link the precinct to surrounding neighbourhoods, and nearby slopes provide ready access to bushland and viewpoints.

About 3,390 people live in Hobart; the median age is 31 and median household income $1,464 a week. The community is dominated by couple families without children and most dwellings are rented (71.2%). The Macquarie Point precinct is being renewed, including a planned multipurpose stadium, and there are projects to expand the ferry network, progress rapid bus planning and upgrade hospital and university facilities. That mix of central cultural amenities, waterfront access and active precinct projects will suit students, city workers and creative professionals; whether it suits you depends on what you want from a suburb.

Question 2

Is it expensive to live in Hobart?

Accepted Answer

In Hobart 7000, the median unit price of $700,000 is about 9.2 times a typical local household's annual income at the last Census, which places buying a unit well above local incomes as recorded then. Rents are also large relative to that income: a house at $680 a week would take about 46.5% of a typical local household's weekly income at the last Census, and a unit at $575 a week would take about 39.3%.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Hobart a good place to invest?

Accepted Answer

Over the past 12 months in Hobart, house values fell 0.8% while unit values fell 9.8%. House rents rose 9.7%, a solid increase, and unit rents rose 4.5%, a modest rise.

Put simply, rental income from houses climbed noticeably even as house prices edged down, while units saw a solid fall in value alongside a smaller rise in rents. If rental income is your priority, the house rent figure is the most relevant; if you are focused on capital growth, both dwelling types recorded negative value changes this year. Whether that balance fits your goals and circumstances is for you to weigh up.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	N/A	$700K
Change in value Past 12 months	-0.8%	-9.8%
Sold Past 3 months	4	18
Median days on market Past 12 months	20	90
Average rent Past 12 months	$680	$575
Change in rent Past 12 months	9.7%	4.5%

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