Located in Tasmania within the Hobart local government area, Mount Nelson is a smaller residential area (postcode 7007). The area has roughly 2,749 residents and an established demographic, with a median age of 40. Households earn a median income of $88K per year, with an average household size of 2.5 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, managers, community & personal service. Employment in the area leans toward education and healthcare. The top ancestries reported are English, Australian, Scottish.
Median house prices in Mount Nelson stand at $940,000, having dipped slightly by 2.1% over the last twelve months. Units have a median price of $539,000 (+0.7% YoY). The current median weekly rent is $450. This gives a gross rental yield of approximately 2.5%. The median monthly mortgage repayment is $1,586.
Mount Nelson is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 1078, which is above the national average of 1,000. Public transport access includes 1 rail station, 35 bus stops.
Looking at the investment signals, Mount Nelson shows a gross rental yield of approximately 2.5%, rated as low yield. Property prices are near the state median ($940K/$750K). The price-to-income ratio of 10.7x is considered stretched. House prices have moved -2.1% 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.