G’day,
In the next few months we are moving from northen Vic over to Tas (Hobart). In the move we plan on paying cash for a business, renting and investing in property in Tasmania. Can anyone out there help us with any hot spots or areas that we should look for investment opportunities.[
]Mate – you’ll be hard put to find an area that isn’t a hot spot at the minute.[
]Prices are increasing by over $1k a week – some doubling within 6 months due to the influx of mainland investors. Over 30% of all sales in Tas are now to interstate investors.
Polar Bear is right, it is getting hard to find +CF deals in Hobart… but if that is what you are looking for I suggest you start in Northern Suburbs of Hobart (Glenorchy, Moonah, Austins Ferry, Claremont) to get a feel for the market. Likely you will need to go fruther out though to get the deals talked about on this site.
My tip is to look for low price properties (under $100K if you can find them – there were many a year ago!) as they are still the ones that are attractive to mainland investors coming to tassie for IPs. Hence they have potential for best gain, and greatest yield.
Good luck
Tas [
]Thanks guys for your help.
I will keep you posted on our progress.
If anyone else can offer their advise it would be much appriciated.
[]Hey great to hear you are coming to Tassie – more the merrier I say – word had to get out some time didn’t it[
]Tim
Hey great to hear you are coming to Tassie – more the merrier I say – word had to get out some time didn’t it[]Tim
Looking at going to tassie to research/holiday what would be a inexpensive way to travel the iland
Buy a bike u can travel around it in a couple of days.
regards frankThe place has little going for it. No population growth, no jobs and ageing population. Maybe 1 -2 years ago as a + cashflow investmen. But whats the point now when wooducks from interstate, who buy sight unseen, have pushed the prices so that yields are now very poor.
You are better of getting on a plane and visit Argentina. I am told property prices have plummetted 70% and the place is in depression. (Some would say it has now more to offer than tassie).diggler
I guess I’m one of the ageing being on a pension it may be just the place to disappear still looking any other places worth looking at
aaronBy the sound of it you know a lot about Tasmania (NOT). Make sure you know what your talking about before you open your trap. Sounds like you need a holiday to get away from all the stress. Try Tasmania it might just open your eyes.
[:0)](sings) Dont cry for me, Argentina!
Tas [
]As a 19 year old who has lived in south Tasmania (Kingston area) all my life except for the last 6 months, i can share some of my inside information.
hrmm hot spots for investing for CG in Tasmania? Id suggest anywhere near immediate Hobart like South Hobart, Sandy Bay, west hobart n Dynerne. Id Definatly suggest outer regions like Kingston and Blackmans Bay and perhaps Taroona.
My parents bought our large 5 brm family home in Blackmans Bay in 1995 for around 130k, and sold in 2001 for 145k. Today the new owners have had offers over 290k. My dad isnt happy — This is just one example of just how rapidly prices are increasing.
I wouldnt recommend investing in places like Moonah, Austins Ferry, Claremont, Rokeby Bidgewater or Snug for immediate CG returns as these places are clearly not in as high demand as other places ive previously stated. You might have luck investing in places like Rokeby or Claremont for some passive income, but i would laugh if anyone labled these areas as investment “hot spots”.
It is also very apparent to locals that reciently (last couple of years) there has been alot of mainland investors blowing into town and becoming proud owners of investment properties. So, if you plan to become one of these lucky people, please do plenty of reserch b4 purchasing anything as the market is quite deceiving. Its not just a matter of buying the cheapest place now and waiting for the CG to accumulate because thats what the over all Tasmanian trends predict. That theory will only work for certain areas..so yeah, do your home work.
and finally, some might say that Tassie has little or nothing going for it and real off a few economic facts like population growth, unemlyoment rates. I say that is all irrelevant and there is still money to be made there, and isnt that what we are really after?
*remembering i am only 19 and dont have any experience in property investing in Tasmania hehe*Hi Smithy, I reckon as a general rule to property investing I would stick close to the major capitals ie. Hobart, Launcestan, within 10km
Cheers John Gee (8D)
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