90 Lucas Rd, Lucaston is on the market for $279,000. The eco-shack is set more than 20ha of private bushland.
FIERCE competition for Tasmania’s most-sought after streets is pushing up prices as nostalgia, aspiration and the search for a bargain drive up homebuyer demand.
According to search data provided by realestate.com.au, Lucas Rd in Lucaston has emerged as our most popular street for prospective homebuyers.
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Katoota Rd, Katoota comes in second on the list of high-demand buys, with Bilton Walk in Claremont third.
Tasmanian home prices have continued to rise despite the coronavirus pandemic. CoreLogic reported Hobart home values were up 0.9 per cent over the quarter through July.
The view from the living room at 90 Lucas Rd.
This compares very favourably to quarterly slumps of -3.2 per cent in Melbourne, -2.1 per cent in Sydney and -1.6 per cent nationally throughout the COVID-19 period.
Well-known streets in blue chip areas remain in strong demand. However the Huon Valley has emerged as Tassie’s No. 1 spot for buyers, with the top two of our most wanted streets.
“It’s an unusual one,” realestate.com.au chief economist Nerida Conisbee said.
TASMANIA’S TOP 20 MOST POPULAR STREETS TO BUY
1. Lucas Rd, Lucaston
2. Kaoota Rd, Kaoota
3. Bilton Walk, Claremont
4. Musks Rd, Sandford
5. Napoleon St, Battery Point
6. Lords Rd, Pelverata
7. Palmers Rd, Oyster Cove
8. Schofield Dr, Sorell
9. Hillmorton Rd, Lindisfarne
10. Stoke St, New Town
11. Back Tea Tree Rd, Tea Tree
12. Braeview Dr, Old Beach
13. Molle St, West Hobart
14. Bullock Dr, Leslie Vale
15. Beechworth Rd, Sandy Bay
16. Secheron Rd, Battery Point
17. Elizabeth St, Hobart
18. Newcastle St, Battery Point
19. Burgundy Rd, Howrah
20. Winmarleigh Ave, Taroona
“It’s different from the other top in-demand streets. People looking for a tree change would be part of that. Also it is cheap there, big, bushy blocks really cheap.”
Some of the buyer search traffic is coming from stickybeaks and voyeurs, who “love looking at luxury houses in fantastic streets” Ms Conisbee said.
But plenty of it is genuine buyers, with search up around 50 per cent on this time last year. A key factor there is the more time people have to browse due to COVID-19. But the pandemic had also allowed us to better understand what we want in our homes and from our lifestyles.
“Often those streets in those suburbs are particularly nice, even for those affluent areas,” Ms Conisbee said.
“They might have a much better view, nicer houses or something else desirable that tends to lead to higher levels of interest.
“In some cases affordability can be a driving factor in a street’s popularity too.”
Nostalgia plays a key role too,” Ms Conisbee said.
“If you have grown up in or around these suburbs or in the city you get to know these streets. They’re in nice suburbs. There are good schools close by and there’s a lifestyle there people want. It might be close to the water, or be on a big block or have something unique about it That all plays into the aspirational aspect of that,” she said.
And if you are looking to buy, or sell in these most-wanted streets, prices will be at a premium.
“As a buyer in these streets, you’re going to be up against more competition and more likely as a result you will pay a higher price than for houses in other less popular streets in the same suburb,” Ms Conisbee said.
The post Where are Tassie’s most sought after streets appeared first on realestate.com.au.