The property market in Hobart, Tasmania’s capital city, has held a strong foothold over the last 12 months, where median housing prices have remained at $325,000. To the north, the cultured outer-suburban home of the MONA Gallery, Berriedale, has been a strong performer, with an amazing 100% auction clearance rate over the last year. Just west of the CBD, nestled at the base of Mt. Wellington, West Hobart has also stayed firm, with a record high property sale price of $1.2 million. Hobart’s higher property sale prices mean that property manager fees may stay the same in time to come.
The normal fees for a property manager in Hobart range from an initial fee of 1 – 4 weeks rent, followed by an ongoing rate of 5 – 10% of the monthly rent. In metropolitan areas and the CBD, where property prices are higher, like in the affluent southern suburb of Battery Point, a property manager may charge a lower fee. In rural and regional areas, such as the quaint Mt. Nelson in the south, property management fees are generally higher, due to lower property prices and fewer local agents.
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