Nestled along the picturesque shores of the Derwent River lies Sandy Bay, a jewel in Hobart’s crown. Boasting an illustrious reputation for its opulent real estate and captivating blend of heritage charm and contemporary elegance, Sandy Bay is the epitome of prestige.
Sandy Bay Buyers Market Overview
Sandy Bay’s property market reflects its highly regarded status, with a median sales price of $1,250,000 for houses, $730,000 for townhouses, and $650,000 for units. Owner-occupancy rates stand at 61.5%, underscoring the suburb’s desirability and stability as an investment destination.
Investment Potential of Sandy Bay Properties
With its coveted status and enduring allure, Sandy Bay presents an enticing opportunity for property investment. The suburb’s enduring popularity, coupled with its affluent demographic, positions it as a promising prospect for investors seeking stable returns and long-term growth.
The median rent for houses in Sandy Bay is $650 per week, with a median yield 3%, with units receiving median weekly rent of $475, with a median yield of 4.3%
Location and Accessibility
Sandy Bay enjoys a prime location, merely a stone’s throw away from the heart of Hobart’s CBD. Situated just 2.5 kilometres from the city centre, residents relish the convenience of easy access to urban amenities. For those commuting, Sandy Bay offers excellent access to public transport to the Hobart CBD, and to suburbs further afield.
Local Attractions and Amenities
Sandy Bay is home to an array of local attractions and amenities catering to residents’ every need. From its vibrant village hub teeming with desirable boutiques, bustling cafes and restaurants to its serene parks and pristine beaches, Sandy Bay offers a lifestyle second to none.
For families, Sandy Bay boasts a selection of respected educational institutions, including the University of Tasmania’s Hobart campus and renowned private schools like Fahan and Hutchins. Additionally, the suburb boasts a wealth of essential services, medical clinics, supermarkets, and recreational facilities, ensuring residents enjoy unparalleled convenience.
The Sandy Bay Community
Sandy Bay is a vibrant tapestry of diversity, owing to its thriving student population and discerning residents. According to the 2016 national census, Sandy Bay’s population stood at 11,925 with a median age range of 20-29 years (no doubt due to the university), the suburb is also called home by professionals and childless couples.
Fun Fact
Sandy Bay is home to Australia’s first legal casino, the Wrest Point Hotel Casino and Long Beach, located in Lower Sandy Bay, was one of the first venues for horse racing. Now it is a popular and well-loved destination for walking alongside the waterfront in all-seasons, and a popular swimming and recreational spot in the warmer months with no horses in sight!
Sandy Bay is also where we, at CPPM, call home. Our office in Sandy Bay can be found in Magnet Court at the centre of the shopping precinct.
In summary, Sandy Bay encapsulates the essence of luxurious living, offering residents an idyllic blend of sophistication, convenience, and community warmth. Whether you’re seeking an investment opportunity or a place to call home, Sandy Bay beckons with open arms.
