SANDY BAY CAMPUS A PRIME REAL ESTATE SITE
THE University of Tasmania’s Sandy Bay campus would make a “wonderful location” for housing developments, Peterswald for Property director Kim Morgan says.
“It’s a great area,” he said. “If it were to become available for redevelopment, I have no doubt whatsoever that it would be eagerly sought after by people wishing to live in the area.
“It’s very good real estate.” Mr Morgan said he didn’t think the history of the site would necessarily add value to potential housing.
“I think the fact that it is within a 15minute walk from the city, within five minutes of the waterfront, (close to) great bus routes, close to schools, (has a) lovely northerly aspect, terrific views — those are the factors that contribute most (to value),” he said.
Mr Morgan said Hobart’s housing market was the most “dynamic” he’d seen it in more than 20 years.
“I think Tasmania’s been on a lot of people’s radar for a very long time,” he said. “And we’d seen a progressive move here from elsewhere interstate. But I think certainly events in the last 18 months have perhaps highlighted that a little bit.”
He noted that the property market could be drastically changed by the time any potential housing was to be developed at the UTAS site.
According to realestate.com.au, the median house price in Sandy Bay as at August 30 was $1,278,000.