Mar­gate a firm mar­ket

Mercury (Hobart) - Property - - Real Estate - JAR­RAD BE­VAN

MAR­GATE and Bat­tery Point are prop­erty mar­kets that are rarely dis­cussed in the same para­graph but they share at least one thing in com­mon — the low­est av­er­age vendor dis­count in Tas­ma­nia.

CoreLogic RP Data tracks the dif­fer­ence be­tween the orig­i­nal ask­ing price and the even­tual sale price of house and unit sales, which is rep­re­sented by a per­cent­age.

The or­gan­i­sa­tion’s lat­est Mar­ket Trends re­port shows Bat­tery Point and Mar­gate home­own­ers who sold be­low their orig­i­nal ask­ing price, gave the small­est dis­counts at only 2 per cent.

The ma­jor­ity of the small­est dis­counts were from city sub­urbs such as Ho­bart, Dyn­nyrne and Sandy Bay, plus high end ar­eas such as Tran­mere and trendy, up­wardly mov­ing West Moonah. Each sub­urb has an av­er­age dis­count be­tween 2.2 and 2.5 per cent.

Mar­gate was the only sub­urb out­side the city and its sur­rounds to crack the top end of this list.

For Real Es­tate In­sti­tute of Tas­ma­nia pres­i­dent Tony Col­lidge, Mar­gate’s high rank­ing came as lit­tle sur­prise.

Mr Col­lidge said it had wide ap­peal.

“Mar­gate of­fers a ru­ral set­ting that is about 20km out of the CBD and only min­utes drive from Kingston,” he said.

“It also of­fers wa­ter­front prop­er­ties.

“Out­side of the main hub of the town, many prop­er­ties are on acreage.

“There are mari­nas and wa­ter­ways in the area which will ap­peal to sea or tree change buy­ers.”

Mr Col­lidge said Mar­gate was a de­sir­able sub­urb with “vil­lage-like” ap­peal.

“The REIT has looked at the ar­eas that are of most in­ter­est to in­ter­state buy­ers who are com­ing to Tas­ma­nia to live, and we found that Sandy Bay, the Me­an­der Val­ley and the Huon Val­ley, where Mar­gate is lo­cated, were the most pop­u­lar,” he said.

There are about 20 houses and units for sale in Mar­gate and about 10 blocks of land.

Prices range from $945,000 to $239,000 for dwellings or $150,000 to $320,000 for land.

The largest vendor dis­counts were in the North and West, in Burnie, Queen­stown, Rose­bery, Ro­se­vears and Stra­han.

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