Title : Hobart's budget 'burbs make hot property list for quickest sellers
link : Hobart's budget 'burbs make hot property list for quickest sellers
Hobart's budget 'burbs make hot property list for quickest sellers
Half of Australia's top 10 fastest-selling suburbs are in Hobart, according to a popular real estate website.
New data from realestate.com.au shows Taroona, Herdsmans Cove, South Hobart, Risdon Vale and Warrane are averaging 13 to 15 days on the market.
The data is based on properties moving from 'buy' to 'sold' between November 2017 and April 2018.
Real Estate Institute of Tasmania president Tony Collidge said investors were snapping up the properties, with about a third buying without personally having set foot in the property.
"I think they would account for the large proportion of the sales there and some of them are from the mainland, many are local, but there isn't a lot of stock about," he said.
"I would think about 30 per cent would purchase without having a look.
"It could go up to 50 per cent of people signing, subject to an inspection, and within the next seven to 14 days they'll fly down and have a look at it."
Herdsmans Cove has a median house price of $171,000, while Risdon Vale's is $220,500 and Warrane's is $295,000.
According to 2016 census data, Warrane scored 641 on the Australia Bureau of Statistics Relative Socio-economic Disadvantage Index (IRSD).
The higher the score for a suburb, the greater economic advantage as assessed by the ABS on a range of criteria which it said provide an insight into "people's access to material and social resources, and their ability to participate in society".
The most recent Census data scored Ku Ring Gai, in New South Wales, as being the most socio-economically advantaged suburb, with a total of 1,141.
The most disadvantaged is Cherbourg, Queensland, which scored 404.
Risdon Vale, north of Hobart on the eastern shore, scored 829, while Herdsmans Cove scored 701.
The other two suburbs are on the more expensive side of the scale, with Taroona's median house price reaching $670,750 and South Hobart at $585,000.
Mr Collidge said Hobart has a small pool of properties for sale.
"So it doesn't take long for that to be consumed and for prices start and move up, which is what's happened over the last two years," he said.
"Those particular areas that you mentioned, in the regions that they're located they are some of the cheaper properties."
Taroona scored 1,090 and South Hobart 1,020 on the 2016 IRSD.
REA Group chief economist Nerida Conisbee said houses in the country typically sell in 30 to 40 days.
"If we look at Taroona, which is the fastest selling suburb in Hobart, homes are selling on average within 13 days, so there's very, very strong demand in the city," she said.
"We know there is a lot of interest coming out Melbourne, for example, when we have a look at the number of people looking from Melbourne in Tasmania, it's very high.
"The suburb of Sandy Bay is the number one interstate property search location."
Sandy Bay was scored by the ABS at 1,000 on the IRSD.
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