Property Profile – Sandy Bay

Situated just five minutes to the south of Hobart’s central business district, Sandy Bay is one of Tasmania’s most sought-after locations for workers, families, and anybody seeking an excellent quality of life spearheaded by beautiful surroundings, career opportunities, and stunning homes.

The Population Of Sandy Bay

Sandy Bay, Tas 7005 currently boasts a population slightly in excess of 12,000, which signals a 7% growth since the previous census in 2011. 

The area’s demographics are diverse with a median average age of 40, but residents do primarily fall into the 20-29 category (just over one in five people) while childless couples are heavily represented with just over 50% of all households falling into this category. Meanwhile, 39% of properties are owned outright while a further 22.5% of residents are purchasers.

Sandy Bay’s thriving community reflects the high-end properties and demographic dominance. Some of the most common jobs among residents in this suburb are lawyers, accountants, and healthcare professionals while students make up a significant percentage of the local population due to the nearby University of Tasmania.

While Anglican and Catholic parishes have existed in the area for generations, the religious makeup of residents also includes a significant number of residents who state themselves to be followers of Buddhism, Uniting, and no religion.

Life In Sandy Bay

Sandy Bay’s popularity is clear to see thanks to a high-demand property market that attracts almost around one-third more interest in listings than the state of Tasmania as a whole. It’s not hard to see why as the standard of living in the suburb to the south of central Hobart is particularly high.

In addition to excellent transport links into central Hobart, Battery Point, and Taroona, Sandy Bay itself is blessed with several beaches and stunning backdrops. The natural beauty is further supported by the tree-lined streets that guide you down streets of beautiful old-style properties.

The Sandy Bay University of Tasmania campus is supported by excellent schooling facilities including good access to several private schools in the surrounding regions. Meanwhile, the government schools include Princes Street Primary School and Sandy Bay Infant School among other excellent facilities. 

An array of great cafes and eateries can be found at Sandy Bay Road while the area is heralded for gourmet shops and supermarkets as well as Australia’s oldest legal casino, the Wrest Point Hotel Casino. Life in the suburb is packed with fun things to do without the traffic often associated with living in an inner-city, making it an ideal place to settle, live, and work for many years.

A wide variety of sporting activities can be found in the suburb too, which reflects the young demographic. Football, sailing, cricket, croquet, and athletics are all covered. When coupled with the high earning potential, which is underlined by the fact that 16.6% of the population (compared to 11.8% of the Hobart City Council rate) boast salaries of at least AU$182k, the appeal of Sandy Bay is even clearer than the waters of the River Derwent.

Properties In Sandy Bay, Tas 7005

Given the aforementioned high-interest levels in the local real estate listings, which is underlined by over 125 sales in the past 12 months with an average sale time of just 22 days, it is no surprise to learn that Sandy Bay’s average property prices are higher than the average rates in Hobart, Tasmania, and Australia as a whole.

Compared to the state average of just over AU$400k, the local property prices of over AU$940k are a clear indication of the area’s affluence. Sandy Bay is blessed with a good mixture of contemporary properties and classical colonial sandstone architecture, as well as apartments, single-storey and two-storey houses. Thanks to the older properties, many of which need work done to them, it may be possible to find a property that is closer to the Tasmania state average costs. This versatility mirrors life in the region, which combines elements of urban living and peaceful suburb life.

There is also a good range of properties across varying sizes including 2-bed, 3-bed, 4-bed, and 5-bed properties for singles, childless couples, and families alike. Meanwhile, there is an adequate level of homes suited to retirement. You will also find that many homes in the area are blessed with sizable gardens and either off-street parking or a garage. Moreover, many properties have gardens that overlook the River Derwent, delivering 

While the buyer marketplace is thriving, the renting environment should not be overlooked as roughly one-third of the properties in Sandy Bay are occupied by tenants. Given the high purchase prices, a lot of people live in the area first to take advantage of the high salaries before moving permanently. It should be noted that the large demand for student accommodation does take up a large percentage of this sector. It also accounts for a significant percentage of the smaller dwellings in the area. Nevertheless, there are great opportunities for landlords and tenants alike.

Moving To Sandy Bay

Sandy Bay, Tas 7005 is an immensely popular area, which is why a lot of property developers and landlords love it too. Better still, anyone moving to the suburb from other parts of Hobart or further afield should face very little hassle with the transition. 

However, many people (especially childless couples and students) prefer to rent before making a permanent property purchase. Therefore, it is vital to find a winning property management team to make the process of managing an investment or finding a rental property as convenient as possible.

Charlotte Peterswald is a world-class property management service that is 100% focused on transparency and fairness for all parties, representing landlords and tenants in Sandy Bay and beyond. From understanding the legalities to the current market trends in the suburb of Hobart, our comprehensive approach will put you at ease.

You can check out the latest property listings in Sandy Bay by clicking here!

 

09 August, 2021
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