Hobart (postcode 7000) is a smaller residential area in Tasmania within the Hobart local government area. The area has roughly 3,390 residents and a younger, working-age population, with a median age of 31. Households earn a median income of $76K per year, with an average household size of 2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.2% year-on-year at the LGA level. TAS employment has moved -0.3% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. TAS also had 19 Commonwealth-backed major projects under construction, 0 underway, and 16 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, community & personal service, managers. Employment in the area leans toward healthcare and accommodation & food. The top ancestries reported are English, Australian, Chinese.
The median house price in Hobart is $1.1 million, having jumped by 10.1% over the past year. Units have a median price of $798,000 (+1.3% YoY). The current median weekly rent is $500. This gives a gross rental yield of approximately 2.4%. The median monthly mortgage repayment is $1,848.
Hobart is served by 2 schools, including 2 combined. The average ICSEA score is 1097, which is above the national average of 1,000. Public transport access includes 35 bus stops. Healthcare facilities include 1 public and 3 private hospitals.
Looking at the investment signals, Hobart shows a gross rental yield of approximately 2.4%, rated as low yield. Property prices are above the state median ($1.1M/$750K), placing it in the premium segment. The price-to-income ratio of 14.5x is considered stretched. House prices have moved +10.1% year-on-year. Population growth of -0.2% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.