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Taroona suburb profile

Taroona is a picturesque suburb located just south of Hobart, Tasmania, known for its stunning coastal views and serene environment. Nestled between the Derwent River and lush hills, Taroona offers a peaceful lifestyle with a strong sense of community. The suburb is home to the historic Shot Tower, a popular tourist attraction, and features beautiful walking trails along the coastline. Taroona's residential landscape is characterized by a mix of charming older homes and modern architecture, appealing to families and retirees alike. Its proximity to Hobart provides convenient access to urban amenities while maintaining a tranquil, natural setting.

Taroona property market performance

Taroona's property market has shown stability over the past 12 months, with no change in the median house value, which remains at $1 million. The unit market appears inactive, with no recorded median price or change in value. Over the past three months, 11 houses have been sold, while only 2 units have changed hands, indicating limited activity in the unit sector.

Houses in Taroona are selling relatively quickly, with a median of 22 days on the market. The unit market, however, shows no activity, suggesting a lack of demand or supply. This trend is reflected in the rental market, where house rents have surged by 18.9% over the last 12 months, reaching an average of $725 per week, while unit rents remain unchanged.

HousesUnits
Median price
Past 3 months
$1MN/A
Change in value
Past 12 months
-0.2%N/A
Sold
Past 3 months
112
Median days on market
Past 12 months
22N/A
Average rent
Past 12 months
$725N/A
Change in rent
Past 12 months
18.9%N/A

5 year median price trend for houses and units

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Taroona demographics

Taroona, a picturesque suburb located just south of Hobart, Tasmania, is renowned for its scenic beauty and tranquil lifestyle. Nestled along the Derwent River, Taroona offers residents stunning waterfront views and a peaceful environment, making it an attractive choice for families and retirees. The suburb's median age of 47 reflects a mature community, with many long-term residents enjoying the area's natural charm and close-knit atmosphere.

The housing landscape in Taroona is characterized by a high rate of home ownership, with 51.3% of properties owned outright and 33.1% owned with a mortgage. This stability is indicative of a community that values long-term residence and investment in their homes. The rental market is relatively small, with only 15.7% of properties being rented, suggesting a preference for home ownership among the population.

Family life is a significant aspect of Taroona's community, with couple families with children making up 42.7% of households, closely followed by couple families without children at 42.1%. The presence of one-parent families at 13.8% adds to the suburb's family-oriented nature. Taroona's appeal lies in its blend of natural beauty, community spirit, and proximity to Hobart, offering a serene yet connected lifestyle for its residents.

Taroona infrastructure, key developments and investment opportunities

Taroona remains a tightly held, predominantly residential suburb with limited large-scale redevelopment, which helps preserve its established character and supports price stability. The suburb’s scenic coastal setting along the River Derwent, with easy access to local beaches and foreshore walking areas, continues to underpin strong lifestyle appeal for owner-occupiers and downsizers.[6][7] Proximity to Hobart’s employment centres via the main arterial route to Kingston and the city maintains convenient commuting options, although no major new transport infrastructure has been announced that would materially alter travel times.[7]

Local schools and community facilities are well established rather than newly developed, which tends to favour steady rather than speculative demand, particularly among families seeking school catchment stability. With no significant new commercial or high-density projects flagged in public sources, future market movements in Taroona are more likely to be driven by broader Hobart trends and its enduring coastal amenity than by local infrastructure shocks. At present, there are no major council-led planning changes or infrastructure projects reported that would substantially change Taroona’s built form or property market dynamics in the short term.[3][7]

Taroona rental market trends

The rental market in Taroona has experienced significant growth, with house rents increasing by 18.9% over the past year to $725 per week. However, there is no available data for unit rents, indicating a potential lack of rental units in the area. Taroona's appeal continues to grow, making it an attractive option for those seeking a serene lifestyle close to Hobart.

Suburbs near Taroona

Some popular suburbs near Taroona include:

  • Bonnet Hill: Known for its scenic views and tranquil environment, Bonnet Hill is located directly north of Taroona.
  • Mount Nelson: Offering a blend of natural beauty and residential charm, Mount Nelson is situated to the northeast of Taroona.
  • Kingston Beach: Famous for its beautiful beach and relaxed lifestyle, Kingston Beach lies to the southwest of Taroona.
  • Kingston: Known for its family-friendly amenities and growing community, Kingston is located to the west of Taroona.
  • Tolmans Hill: Featuring elevated views and modern homes, Tolmans Hill is situated to the northeast of Taroona.

How does Taroona compare to nearby suburbs?

  • Median house prices: Taroona’s median house price is 9.8% higher than Kingston Beach’s.
  • House price growth: Property prices in nearby Mount Nelson have risen 17.0% more than in Taroona over the past year.
  • Selling speed for houses: Properties in Taroona are selling 29.0% faster than in Mount Nelson.
  • House price growth: Over the past 12 months, house prices in Taroona have grown 24.5% higher than the average rate of growth across Hobart.
  • Unit price growth:Over the past 12 months, unit prices in Taroona have grown 25.6% higher than the average rate of growth for units across Hobart.

Common questions about Taroona

  • Is Taroona a nice place to live?

    Taroona is a delightful suburb that offers a serene and picturesque lifestyle, making it a wonderful place to live. Nestled along the Derwent River, it provides residents with breathtaking coastal views and a tranquil environment that is perfect for those seeking a peaceful retreat from the hustle and bustle of city life. The suburb is known for its charming blend of older homes and modern architecture, which adds to its unique character and appeal. Families will find Taroona particularly attractive due to its strong sense of community and the presence of well-established schools and community facilities.

    Living in Taroona means enjoying the best of both worlds: the tranquility of a coastal suburb and the convenience of being close to Hobart. This proximity allows residents to easily access urban amenities, including shopping, dining, and entertainment options, while still enjoying the peacefulness of their home environment. The suburb's natural beauty is complemented by its outdoor recreational opportunities, with beautiful walking trails and local beaches providing plenty of options for leisure and relaxation.

    While Taroona offers a fantastic lifestyle, there are a few trade-offs to consider. The suburb's residential nature means there is limited large-scale redevelopment, which helps preserve its character but may limit new housing options. Additionally, while commuting to Hobart is convenient, there are no major new transport infrastructure projects planned that would significantly alter travel times. However, for those who value a stable, community-oriented environment with stunning natural surroundings, Taroona is an exceptional choice.

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  • Is it expensive to live in Taroona?

    Living in Taroona, a suburb of Hobart, can be considered relatively expensive, especially when looking at the housing market. The current median house price in Taroona is around $1,000,000, which is quite high compared to many other areas in Tasmania. With no median unit price available, it suggests that houses are the primary form of accommodation. Renting a house in Taroona costs about $725 per week, which is also on the higher end for the region.

    When we compare the median total household income in Taroona, which is $1,845 per week, to the average Tasmanian full-time worker's annual salary of approximately $95,000, it's clear that a significant portion of income would be needed to cover housing costs. This can make living in Taroona quite a financial commitment, particularly for those earning around the state average.

    Overall, while Taroona offers a scenic lifestyle with its proximity to the water and natural beauty, the cost of living, particularly in terms of housing, is higher than many other Tasmanian suburbs. If you are thinking of living in Taroona, it's crucial to evaluate your financial situation to ensure it aligns with the expenses associated with residing in this picturesque suburb.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Taroona a good place to invest?

    Taroona presents an intriguing opportunity for investors, particularly those interested in rental income. While the median house and unit values have remained stable over the past year, the rental market tells a different story. House rents have surged by an impressive 18.9%, indicating strong demand from tenants. This suggests that Taroona is becoming increasingly popular among renters, which can be a positive sign for investors seeking steady rental returns.The suburb's appeal likely stems from its scenic location and community atmosphere, making it an attractive place to live. While capital growth has been stagnant, the potential for consistent rental income is a key factor to consider. Investors looking for a balanced approach might find Taroona appealing, especially if they prioritize rental yield over immediate capital gains. With its stable property values and rising rental demand, Taroona offers a promising prospect for those focused on long-term investment strategies.
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Choose the right real estate agents in Taroona

There are 30 real estate agents in Taroona, but they don’t all deliver the same results.

Some agents have a much stronger presence in the suburb, with just 5 agents handling around 27.5% of all sales in the past year.

Commission rates in Taroona typically range from 2.63% to 3.25%. Comparing agents—including what they charge, what’s included, and how they structure their fees—is not only important when choosing an agent, the right structure can help ensure your chosen agent is motivated to achieve the best possible result.

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