The Top 10 Cheapest Suburbs in Hobart
In the second quarter of this year, house prices in all Australia’s capital cities saw a dip, except for prices in Hobart and in Canberra. The capital city of Tasmania has shown strong growth over the past few years, but property here – and especially in the suburbs that surround it – are still more relatively affordable.
Considering Hobart’s outlying suburbs are quite close in proximity to the perks of the capital, looking to invest in property in these suburbs may be an attractive option – even more so if you are a first-time homebuyer.
This part of Australia provides country living and views that will have you constantly staring around – a fact that is evident from the many tourists that grace these shores for respite from urban living.
If you’re thinking of buying property in greater Hobart, here are the most affordable suburbs, as compiled in CoreLogic and Aussie Home Loans’ most affordable suburbs for housing report.
The suburb of Gagebrook forms a part of the Municipality of Brighton, and is located approximately 21 kilometres from Hobart, the capital and most densely populated city in the island state of Tasmania, which is 240 kilometres south of the Australian mainland. Two public primary schools in Hobart take care of the basic educational needs of the community: Gagebrook Primary School and Herdman’s Cove Primary School.
Hikers and mountain bikers will appreciate the Swan Park Trail, a 1.4-kilometre long trail, which follows the Derwent river foreshore to the east, from the Jordan River Bridge, around Gagebrook, to Lamprill Circle. These wetlands are home to a diverse collection of birdlife, including cormorants, white faced herons, pelicans and black swans.
Property in Gagebrook is affordable to the first-time buyer or investor in search of property in Tasmania, and the median house price in this suburb is $217,278.
2) Herdsmans Cove
Adjacent to its neighbouring suburb Gagebrook, Herdsmans Cove is also a part of the Municipality of Brighton. The majority of dwellings in Herdmans Cove are separate houses, as is the case in other suburbs within Brighton. Like Gagebrook, this suburb was created as a broadacre public housing estate in the 1970s.
Herdsman Cove is among the most socio-economically disadvantaged areas in Tasmania, and as a result, property is also very cheap. You can buy property in Herdsmans Cove for a median price of as little as $218,560.
20 kilometres from Hobart, lay the historic town of Bridgewater. The town’s Old Watch House, built by convicts in 1838, still stands at the southern end of the Bridgewater Causeway, although you’ll have to look carefully to spot it. Easier to see are the remains of the Black Snake Inn at 650 Main Road, which operated from 1833 to 1860. Other notable historic attractions include the Hestercombe Chapel and Austin’s Cottage – this simple stone cottage was built by the convict James Austin in 1809, after he was released, and is considered one of Australia’s oldest buildings.
Modern-day Bridgewater boasts a number of shopping centre and retailers, and three primary schools and a public high school, catering to the needs of the just over 4,000 people that call this part of greater Hobart home.
Property prices in Bridgewater saw a boom in the early 2000s, and houses and land that overlook the Derwent River are especially popular. The median price of housing may make it an appealing outer suburb of Hobart to prospective property buyers and investors: you can buy a house here for only $242,023.
4) New Norfolk
Another town that lies next to the Derwent River that is listed among the top 10 most affordable suburbs in greater Hobart is New Norfolk, about 32 kilometres from the capital city when taking the Lyell Highway. Its history lends New Norfolk a quaint old-town character, and visitors and residents are treated to many of the oldest buildings and institutions in all of Tasmania.
The St Matthews Anglican Church, built in 1824, is the oldest church in Tasmania, while Willow Court – originally constructed as a military hospital in 1830 – is considered Tasmania’s oldest mental hospital. The Bush Inn claims to be the oldest continuously licensed hotel in Australia, and was built in 1825.
New Norfolk takes its name from the original homeland of 163 of the pioneers that resettled here between late 1807 and late 1808. These former inhabitants of Norfolk Island changed the town’s name from Elizabeth Town in 1825, in honour of the new residents’ former home.
New Norfolk now houses 5,230 residents, and property in this suburb of greater Hobart is highly affordable. The median price of property is $256,220.
5) Risdon Vale
Most residential housing in Risdon Vale was built and established around 1960, as was the local school, Risdon Vale Primary School. This outer suburb of Hobart is located approximately 11 kilometres from the Tasmanian capital. The Risdon Brook Park and Dam’s pleasant 4-kilometre walking track around the dam offers great views of Mount Wellington, and the area is characterised by its shrubs and bush.
Public transport provides easy access to the shopping areas in Glenorchy and Rosny Park, and buses also run to Hobart and Bridgewater. Risdon Vale’s strong sense of community is often cited by people who live here.
This suburb offers very affordable options to the first-time homebuyer, and the median price of property here is $261,661.
6) Clarendon Vale
The suburb of Clarendon Vale falls within the boundaries of the City of Clarence local government area, and the 2016 Australian National Census recorded a population of 1,267. Clarendon Vale was a public housing area in the 1970s, although a lot of the public housing stock is now owned privately. Clarendon Vale Primary School and Bayview Secondary School offer educational options for local residents.
Property in Clarendon Vale counts among the most affordable in greater Hobart, about 15 kilometres away from this suburb. A house here can be bought for a median price of $271,897.
7) Primrose Sands
At the northern channel between Frederick Henry Bay and Norfolk Bay lay the south-eastern Tasmanian suburb of Primrose Sands. Located about 46 kilometres from Hobart, some residents call Primrose Sands a “coastal retreat” and a “permanent holiday”. The beach here is safe for children and families, and offers the option to swim, snorkel, water ski and kayak. Many properties here have beautiful views of the unspoilt surroundings. A neighbourly atmosphere is prevalent, and this is a great option for buyers in search of coastal and country living not too far from the necessary amenities.
You can buy a home in Primrose Sands at a median price of $287,718, according to data released by Aussie Home Loans and CoreLogic.
Located within the boundaries of the Glenorchy City Council and situated between neighbouring suburbs Berriedale, Claremont and Glenlusk, Chigwell is just over 12 kilometres from Hobart. The public housing stock that was common here has mostly been sold to private owners, and the Mt Faulkner Primary School tends to the educational needs of the local community. Bushy surrounds, fresh mountain air and a community feel create a countryside atmosphere in Chigwell, and the suburb is popular among young families, retirees, and people looking to retreat to the country.
Property in Chigwell is the eighth-most affordable in Hobart, and median house prices here stand at $309,733.
Private home ownership in Rokeby has soared since the Hobart housing boom in 2002, and this suburb in the City of Clarence local government area has been looking up of late. The Old Rokeby Historical Trail lists 15 places of interest for history buffs to explore, and offers great insight into the lives of the early settlers who arrived here in the 19th century. Rokeby is located 16 kilometres from the Tasmanian capital, Hobart, and many homes here have a great view of the stunning landscape surrounding the suburb.
Property in Rokeby can be acquired for a median price of $311,661.
Should you cross the hill from New Norfolk, you’ll find the quiet and tiny locality of Magra in the Derwent Valley. This hamlet is home to just 899 residents, and the area consists mainly of farmland and dwelling houses. It is a popular stop for tourists to the area, and is located about 27 kilometres northwest of Hobart. An impressive plantation of imposing Lombardy Poplars graces the landscape against the backdrop of the surrounding hills.
Magra is the tenth-most affordable suburb in greater Hobart, and the median property price in this area is $314,750.
Looking for property in Tasmania from the mainland can prove difficult, but having the right qualified and experienced real estate agent on your side ensures that you get a grasp of where is best to buy.
Perfect Agent recommends a number of real estate agents after you’ve completed a quick assessment of your needs. In this way, the agents we recommend understand what you are looking for, and can assist you in your quest for a great property accordingly. Looking to buy in Tassie? Let Perfect Agent make it easy!