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Glenorchy’s popularity is climbing higher. Picture: Eddie Safarik

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GLENORCHY has been crowned Hobart’s best suburb for homebuyers hunting for affordability without sacrificing liveability.

In a report from the national PRD Real Estate research team, this northern suburb made the cut for house and unit buyers.

New Town and Rokeby were among the best unit options, while Lutana and Berriedale rounded out the top three in the house market charts.

PRD’s biannual Affordable & Liveable Property Guide includes traditional measures such as median price movement and sale transactions; it also accounts for factors such as low crime, access to amenities, unemployment rates, and the value of developments coming to an area.

PRD chief economist Diaswati Mardiasmo said these liveability features factor greatly for some buyers when making home buying choices.

Dr Mardiasmo said a buyer that has family and children might be more concerned with the availability of schools, low crime and greenspace; whereas a professional first-home buyer climbing the career ladder might put more emphasis on availability of jobs.

PRD chief economist Diaswati Mardiasmo.

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“Our report aims to provide the best balance possible between price and all of the other factors,” she said.

“We’ve put equal weighting on each criteria, to acknowledge the individuality of a buyer’s demand profile.”

PRD Hobart property representative Kevin Spaulding said with Moonah now “exhausted”, Glenorchy is on the rise.

It seems to be the next popular option for all purchaser demographics, he said.

“The suburb has had its troubles over the years, but recently it has become attractive in affordability and position,” Mr Spaulding said.

“Glenorchy now has everything to offer the first-home buyer, downsizer and investor.”

No.1 Continental Rd, Glenorchy is listed with PRD at “Offers over $575,000”.

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No.1 Continental Rd, Glenorchy.

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Dr Mardiasmo described Rokeby as an area that has “shot up”.

“Rokeby has new builds going in, there are schools, new places to shop, and it has a median unit price that is lower than Hobart Metro,” she said.

“Together, this provides balanced affordability and liveability.

“It’s almost a new trend where buyers don’t worry so much about the “old branding” of a place — such as former housing department suburb, or industrial suburb — but instead they are focused more on what’s actually available.”

Coles Glebe Hill Village development.

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Affordable and Liveable Property Guide 2nd Half 2022

Median price, annual growth, vacancy rate, unemployment rate

HOUSES

Lutana $616,000 20.3% 0.1% 2.8%

Glenorchy $602,500 19.7% 0.2% 2.8%

Berriedale $660,000 37.5% 0.2% 1.5%

UNITS

Rokeby $540,000 25.2% 0.6% 1.5%

New Town $522,500 15.5% 0.3% 4.2%

Glenorchy $475,500 16% 0.2% 4.3%

Source: PRD Real Estate