1. Moonah & West Moonah are now officially must have locations

Over the past twelve months the areas of Moonah and West Moonah have done exceptionally well as they have experienced a price growth of 10% with the median sale price for Moonah rising from $291,000 to $320,000 and West Moonah rising from $311,000 to $345,000 according to our agencies quarterly market report.

This love of Moonah has also taken place through the commercial sector with several Restaurant and cafes opening up which offer high quality product including St Albi and Shake a leg Jr which are fast becoming local hot spots.

2. Well looked after homes sell quickly

Now what we mean by this is probably different to what you may expect. A well looked after home does not need to be only a few years old, as we have found that even old original 50’s and 60’s homes have fast become the sort after property as it allows renovators to get in and make a home their own to the point where we have achieved higher sale prices through competition for a property that has had no work done to it VS a property that may have had a new kitchen in the 90’s or early 2000’s.

To us this is no surprise as people look to move away from the urban sprawl and work back closer to Hobarts CBD and use the abundance of renovation shows on TV as their inspiration.

3. The property market is more alive than you may think

As it stands properties for sale in the current market place are down almost 35% from this time last year however the increase of buyers has actually risen in the past twelve months due to the countries record low interest rates.

What this means for properties owners currently for sale within the market place, is that homes have been selling for strong prices along with days on market dramatically decreasing across all Northern Suburbs with Moonah, West Moonah, Glenorchy and Rosetta seeing the greatest decrease as demand spike for properties within those areas.

4. First home buyers are alive and well…

There is a lot of speculation that property prices have become out of reach for a lot of young Australians however this tends not to be the case within the Northern Suburbs of Hobart as first home buyers have an abundance of choice when it comes to property.

For starters the Northern Suburbs of Hobart enjoy a lower median house price thus allowing young Australians the ability to buy without becoming victim to mortgage stress, a common issue amongst main land buyers.

In addition, the Tasmanian Government has helped first home buyers and the Tasmanian building industry dramatically by offering the incentive of a $20,000 grant known as the First Home Builders Boost for any first home buyer that purchases a newly constructed home that has never been lived in.

These two reasons alone have insured that young Australians still have a place within the property market.

5. Quality marketing has fast become the norm for the Northern Suburbs in 2015/16

You only have to look back 2-3 years to see that marketing was not a key factor when selling a home within the Northern Suburbs however in the 2015/16 financial year that all changed as agents looked for competitive advantages to out market their competition.

Professional photos, floor plans, video and even Drone Photography/Video are almost common practice across most Northern Suburb properties along with 3D floor plans beginning to showcase properties in an immersive way.

In addition to digital marketing print has also levelled up with Northern Suburb properties enjoying half page adverts within the real estate guide on a regular occurrence and showcasing that no matter the sale price every property in and around Hobart should receive a consistent level of quality and is something we here at 4one4 Real Estate have always believe was necessary which is why since 2014 we have employ our own marketing team 4one4 Media House to ensure we are able to offer that exceptional quality our market place now expects of us.

Author: Patrick Berry, 0409 989 598, www.patrickberry.com.au