Hobart suburbs that are worth looking at

Viewing 10 posts - 1 through 10 (of 10 total)

bm17
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@bm17
Join Date: 2010
Post Count: 47
January 10, 2011 - 5:01 am
Hi everyone,
I am working in Hobart for the next couple of months and I wanted to have a look at properties to fill in some time on my weekends. Any Tassie investors that can suggest suburbs in and around Hobart I should look at.
I will be focusing on the lower end of the market so prices around the $300k mark would be great.
Thanks
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
January 10, 2011 - 7:32 am
Head over to Gagebrook – you should be able to buy two or three for that price
http://www.allhomes.com.au recently started listing Tassie properties. You could suss out the prices of Hobart suburbs using this website (it's a nice and easy website to navigate – us Canberrans love it).
Here are some recent threads on Tassie as well.
https://www.propertyinvesting.com/forums/property-investing/general-property/4328492
https://www.propertyinvesting.com/forums/property-investing/general-property/4332228?highlight=tasmania
https://www.propertyinvesting.com/forums/property-investing/help-needed/4332059?highlight=tasmania
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
bm17
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@bm17
Join Date: 2010
Post Count: 47
January 10, 2011 - 9:41 pm
Thanks Jamie,
I will definitely look into these!
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
January 11, 2011 - 8:39 am
No worries at all. I was semi joking about Gagebrook though. I've been told it's rough as guts – best to use your own due dilligence there!
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
forestroad
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@forestroad
Join Date: 2004
Post Count: 3
February 10, 2011 - 10:49 pm
In relation to Hobart… either you can seek reasonable yields 6%-7% further out of town in areas such as Glenorchy and Claremont. West Moonah is offering a more balanced return with yield and some growth; it seems to be booming. New Town is great as well as it is close to the CBD and is quickly becoming a "lifestyle" neighbourhood though, prices here have gone up considerably in recent times.
All in all, I believe that the RIGHT PROPERTIES in Hobart are offering great potential for strong rental returns and future growth.
calvin_thirty4
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@calvin_thirty4
Join Date: 2004
Post Count: 556
February 17, 2011 - 1:17 am
What are the rules and regulations for purchasing over in Tassie? It seems that each state has their own rules and ways of doing things and that can be a mine filed for the unwary …
We bought in QLD and that was very different to WA!
tassiegirl
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@tassiegirl
Join Date: 2011
Post Count: 2
February 18, 2011 - 9:22 am
Moonah is the closest suburb to the cbd ( less than 10km) where you can still get houses under 300k. It has a large stock of unrenovated 30s to 50s character houses which are being bought up or rented by the young and funky who cant afford anything closer to town. House prices in the neighboring suburbs on the city side, Lenah Valley and Newtown are a good 100k to 200k more expensive so it has great growth potential. Otherwise I would look at units/flats in solid suburbs like south hobart/north hobart and sandy bay. There is a very high demand for rentals in the inner city areas. Its a falling market down here so I would be wary of buying in the very cheap outer bogan belt of gagebrook/bridgewater/rokeby. Also while there is a lot of new infrastructure in kingston to the south, there seems to be an oversupply glut of overpriced new housing and units. further south to huonville and this oversupply is even more pronounced. just my 2 cents.
forestroad
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@forestroad
Join Date: 2004
Post Count: 3
February 21, 2011 - 6:02 am
If you're going to buy in Hobart I would suggest you have a Hobart lawyer to do your conveyancing as they do things a little different down there. Normally, a 30 day settlement has been normal but I keep pushing for 60 days. The contracts of sale are pretty basic and have no " Section 32" like here in Victoria. Everything is negotiable providing it's in the contract of sale…
Agents can buy the same property you want to buy as long as they disclose it in writing to the vendor. I believe that is a serious no-no here in Victoria. It gives the agent a clear advantage.
calvin_thirty4
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@calvin_thirty4
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Post Count: 556
February 21, 2011 - 6:55 am
forestroad wrote:
The contracts of sale are pretty basic and have no " Section 32" like here in Victoria. Everything is negotiable providing it's in the contract of sale…
Hi Francis,
I am not familiar with the “Section 32” can you elaborate on what it is and its purpose …
forestroad
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@forestroad
Join Date: 2004
Post Count: 3
February 24, 2011 - 2:24 am
Hi Calvin_thirty4,
I found this really clear description of the " Section #2" Vendor Statement at the Realchoicemortgages website. It's quite thorough. Hope this is useful to you.
Regards,
Francis

Section 32 Vendor Statement
What Is the Section 32 Vendors Statement?
The Vendor's Statement is the means by which the vendor provides a prospective purchaser with information about the property being sold.
Its name comes from Section 32 of the Sale of Land Act, which sets out what information must be given, and also sets out specific warnings that must be made clear to the purchaser.
For vendors, it is important that the Section 32 is correct and complete, as a sale can be terminated if it has not been properly prepared. Further, a vendor can be fined in some circumstances if mandatory information is not included.
For purchasers, it is necessary to check the Section 32 thoroughly. Problems can arise, not necessarily because of what the Section 32 contains, but because of what is does NOT contain. This is where legal advice prior to signing an offer can be of great assistance.