Moonah TAS Property Investment

THE MARKET

Moonah has compounded at 1.4%/yr over 5 years — a house that cost $600,753 in 2021 is worth $644,000 today. Properties are sitting on market for 15 days (sellers have the leverage). At the same growth rate, today's median reaches $690,360 by 2031.

- **Median house:** $644,000 | **Units:** $535,403 - **Gross yield:** 4.6% | **Net yield:** 3.1% - **5yr price CAGR:** 1.4%/yr | **3yr forecast:** 1.5%/yr - **Population:** 14,945 | **Owner-occupier rate:** 34% | **Affluence:** Below Average

- **Supply pipeline:** Moderate — Development activity consistent with long-term averages

RENTAL SNAPSHOT

- **Vacancy:** 1.8% (stable) | **Rental demand:** High - **Median weekly rent:** $570/wk | **Days on market:** 15 (improving) - Landlord market — rents likely to keep rising.

SHORT-TERM RENTAL

- **Median nightly rate:** $175/night | **Occupancy:** 65% - **Estimated annual STR gross:** ~$41,519/yr - **vs long-term rent:** $29,640/yr (+40% STR premium — factor in higher management costs)

INFRASTRUCTURE & CATALYSTS

- **Cosgrove High School Revitalisation** (under construction) - **Moonah TasWater Infrastructure Upgrades** (under construction) - **Hobart to Glenorchy Urban Renewal Corridor** (planned) - **Ashbourne Grove Road Renewal** (planned) - **Transport:** Well-connected inner-city location

BULL CASE

If Moonah maintains 3%+ annual growth and vacancy stays below 1.3%, median prices could reach $740,600 within 3 years with yields compressing slightly as capital values rise.

BEAR CASE

A market correction or interest rate shock could see prices in Moonah pull back 10-15% from $644,000, with vacancy rising to 3.2% and rental yields softening as tenants gain leverage.

KEY RISKS

- No significant risk factors identified for this suburb

COMPARABLE MARKETS

- **Austin Ferry** (TAS): $638,011 median, 4.3% yield, 8.7% 1yr growth - **Bicheno** (TAS): $810,000 median, 2.5% yield, 17.0% 1yr growth - **Blackmans Bay** (TAS): $807,000 median, 3.9% yield, -7.8% 1yr growth

THE PLAY

Moonah offers balanced fundamentals but does not present an urgent buying signal. The market is in a growth phase with low vacancy risk. Monitor vacancy trends and price movements over the next 6-12 months. Only enter if a property can be acquired at or below median pricing with yields exceeding 5.1%.

- Entry range: $579,600 – $708,400 - Minimum gross yield to target: 4.9% - Watch signal: vacancy staying below 2% and days on market holding under 35

This analysis is for informational purposes only and does not constitute financial, legal, or investment advice. Seek professional advice before making investment decisions.