Located in Tasmania within the Hobart local government area, Sandy Bay is an established suburb (postcode 7005). It is home to about 12,315 residents, with an established demographic and a median age of 39. Households earn a median income of $100K per year, with an average household size of 2.4 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 healthcare and education. The top ancestries reported are English, Australian, Chinese.
Median house prices in Sandy Bay stand at $1.3 million, having declined by 3.2% over the last twelve months. Units have a median price of $720,000 (-7.7% YoY). The current median weekly rent is $535. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,167.
Sandy Bay is served by 6 schools, including 3 primary, 3 combined. The average ICSEA score is 1131, which is well above the national average of 1,000. Public transport access includes 83 bus stops.
On the investment side, The gross rental yield works out to roughly 2.2%, which reads as low yield. Property prices are above the state median ($1.3M/$750K), placing it in the premium segment. The price-to-income ratio of 12.7x is considered stretched. House prices have moved -3.2% 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.