Outer suburb Dodges Ferry noticed double-digit development after GFC

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Real Estate

Dodges Ferry recorded median value development of about 15 per cent within the three years following the worldwide monetary disaster.


NEW analysis has revealed the Hobart suburbs that fared finest following a serious market downturn — and it may not be the areas individuals instantly consider.

Within the face of financial turmoil — the worldwide monetary disaster — joint analysis by PIPA and CoreLogic discovered it was not Hobart’s blue ribbon suburbs like Battery Level, Sandy Bay or Bellerive that finest shrugged off the GFC.

As an alternative, the information’s prime 5 was headlined by Dodges Ferry with virtually 15 per cent development between December 2008 and 2011.

Tassie’s capital metropolis prime 5 and the regional prime 5 suburbs all posted double-digit development within the three-year interval.

In Better Hobart, it was Rokeby, North Hobart, Oakdowns and Mount Stuart that grew by between 11.2 per cent and 14.2 per cent.

Northern Tassie suburb Grindelwald posted a median value change of 27.5 per cent with Waverley, Deloraine, Launceston and East Launceston recording development of 13.4 per cent as much as 16.1 per cent.

Property expert Peter Koulizos on Gray street in Adelaide's CBD. Pic Mark Brake

PIPA chair Peter Koulizos. Image: MARK BRAKE


Property Funding Professionals of Australia chairman Peter Koulizos says the analysis highlights the resilience of property costs throughout turbulent occasions.

Nevertheless, he says the best-performing areas could also be very totally different post-COVID in comparison with post-GFC.

“The best way individuals work will doubtless change considerably post-pandemic and this may have an effect on much less
conventional property funding areas,” he mentioned.

“Existence will undoubtedly change, which can make residing exterior the inner-city extra interesting.

“In case you don’t should go to the CBD for work as a result of you possibly can make money working from home, you then don’t should dwell close to it.”

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PRD Hobart director Tony Collidge.


PRD Hobart director Tony Collidge mentioned the affordability of actual property in Tasmania right now made it engaging to locals and interstate patrons in search of a change.

“Historical past suggests costs in a slowing or falling market lower in bigger proportions as you progress farther from the central hubs,” he mentioned.

“In 2012-14 costs in interior Hobart fell by 10-15 per cent, Glenorchy as much as 20-25 per cent and in New Norfolk and Brighton by 25-30 per cent.

“In these occasions, discovering a purchaser was like discovering a Tassie tiger — few and much between.”

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Tony mentioned the Tasmanian actual property market wasn’t as considerably impacted by the GFC because the bigger capitals.

“At the moment Dodges Ferry and Rokeby had been very reasonably priced areas, Oakdowns was a brand new suburb that was simply beginning to turn into widespread and North Hobart and Mount Stuart had been rising in recognition.

“They had been probably the 2 least expensive inner-city suburbs at the moment,” he mentioned.

All of the regional areas highlighted within the knowledge are situated within the north of the state, inside commuter distance of Launceston.

Tony mentioned post-GFC, the financial outlook for the north was optimistic and an upswing introduced higher confidence and prospects to the area.

He mentioned at current the Tasmanian market was strong and he remained assured new areas would come to the fore as we emerged from the pandemic.

Tony mentioned he might see many areas “taking off” together with Mornington, Warrane, Cambridge, Lauderdale, Sorell, Lutana, Derwent Park, Granton, New Norfolk, Brighton, interior Hobart and Cosy.

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