South’s red hot suburbs
Median house prices skyrocketing up to 75 per cent
IN a small township about an hour’s drive southeast of Hobart, a property market is punching well above its weight.
Forget Sandy Bay or Battery Point, it was Eaglehawk Neck that posted the largest change in median prices in southern Tasmania.
The latest data from CoreLogic shows median prices in Eaglehawk Neck have surged by an eye-watering 75.3 per cent in the past three years.
The next best results were recorded in Risdon Value, Mount Stuart, Herdsmans Cove and Clarendon Vale — each posting a three-year median change above 67.6 per cent.
While the growth is strong, three of these top five suburbs still have a median price below Tasmania’s median of $375,000 September quarter, per REIT data.
Real Estate Institute of Tasmania president Mandy Welling
described Eaglehawk Neck’s growth figures as “absolutely stellar”.
“Eaglehawk Neck is an affordable option compared to other likely hot spots such as East Coast destinations Orford or Bicheno,” she said.
“These areas have become very expensive over the years, and in comparison Eaglehawk Neck offers a great alternative.”
Fall Real Estate property consultant Jason Andrikonis said there had been some “amazing results” in Eaglehawk Neck this year — and even poor weather could not dampen the market’s buzz.
“I sold one at Pirates Bay Road in the middle of winter in the pouring rain and wind,” he said. “And we had five offers that were all above the asking price.”
Kate Storey Realty property representative Phillip Wells said each time he had a solid listing in Eaglehawk Neck, it had sold above expectations.
He said Hobart property prices have forced first home and other buyers to look outside the city, and he reckons people have realised that living one hour from Hobart is a commutable distance.
Risdon Vale houses recorded the second highest growth figure — a stitch behind Eaglehawk Neck — at 73.5 per cent.
Mrs Welling said the Risdon Vale median change reflected the new subdivision off Sugarloaf Road.
“Homes in the centre of the suburb like Sycamore Rd and Poplar Rd sell in the high $200,000s to mid-$300,000,” she said.
“With many buyers focusing on what might be considered the ‘majors’, such as West, North and South Hobart or the waterside areas like Kingston, Sandy Bay, Tranmere or Howrah, the realisation of little treasure suburbs like Mount Stuart is now apparent.”