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Battery Point homeowners sitting on a gold mine

March 1, 2018

Tasmania Real Estate Review, March 2018

The value of Battery Point homes has grown by $62,500 annually for the past 10 years virtually doubling the value of Tasmania’s most exclusive and expensive suburb, according to new data from realestate.com.au.

The report revealed that homeowners or investors who bought property in Battery Point, Hobart, North Hobart, Dynnyrne and Sandy Bay would today be sitting on gold mines. In 2008 Battery Point’s median price was $650,000 but by mid-February this year, CoreLogic figures show the coveted city suburb’s median was $1.275 million.

In Hobart the median grew from $392,500 in 2008 to $825,000 while North Hobart homes more than doubled in value from $310,000 to $670,625.