10 days to sell is the norm in this suburb

When Seven Mile Beach houses hit the market, they don’t last long. Picture: Supplied

For people wanting to buy in this Eastern Shore hot spot, there will be no time to waste.

September PropTrack figures show the median time it takes to sell a house in Seven Mile Beach is only 10 days.

At the same time last year, Seven Mile Beach was greater Hobart’s fastest suburb. But in 2024, the Market Trends report showed things moved far slower, with a 22-day median sale time.

Across Hobart of late, agents report a buoyant market for properties in the $600,000 to $750,000 range.

But in Seven Mile, it’s not just the more affordable property that sells fast or attracts big crowds. Aspirational homes do, too.

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SOLD: No.30 Lewis Ave, Seven Mile Beach.

SOLD: No.30 Lewis Ave, Seven Mile Beach.

Peterswald director Harry Coomer listed No.30 Lewis Ave at $1.45m-plus and said there were competing offers on the table eight days later.

“It was purchased by a young local family, chasing a lifestyle shift,” he said.

“The property was instantly popular, based on inquiry, because of its architectural flare.

“People reached out immediately. They were wowed by how incredible it was.

“Most homes of this ilk and character in the area that we have sold, have been purchased by locals – from middle-aged couples downsizing to families upsizing. They were our best buyers.”

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Peterswald director Harry Coomer.

The story was similar for EIS Property managing director David Gunning, who took No.42 Woodhurst Rd to market in the $1.7m-$1.8m price range last month and had it sold in about a week.

“Woodhurst sold very quickly, it was gone right after the first open home,” Mr Gunning said.

“Two local parties in their 30s were keen to purchase it, and both put in strong offers.

“I was surprised by just how quickly it sold.

“The outlook, north-facing and looking toward the golf course, was seen as highly attractive.”

SOLD: No.42 Woodhurst Rd, Seven Mile Beach.

SOLD: No.42 Woodhurst Rd, Seven Mile Beach.

Mr Coomer said the size of the suburb and the relatively few homes that are available to purchase contributes to how fast Seven Mile Beach properties sell.

“There is strong desire for a community-based suburb, an area where you see children out riding their bikes and where families having Christmas get-togethers with their neighbours in the cul-de-sac — and you can find that in this area,” he said.

“As Hobart grows, some areas have lost that community spirit, but Seven Miles Beach retains elements of it and that’s attractive.

“This goes hand-in-hand with the beach lifestyle. I’d bet nearly everyone who lives there is walking on the beach at the weekend.

“It’s an example of a pace of life that is calm and desirable.”

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EIS Property managing director David Gunning.

Mr Gunning said the beach lifestyle was a factor that makes Seven Mile Beach an attractive place to live.

“And it’s only a 15 to 20-minute drive to the city,” he said.

“Not a lot of homes come to market in this suburb. But our last four or five sales there would have sold within weeks.

“Buyer demand is always strong.”

Economist Angus Moore.

REA Group executive manager of economics Angus Moore said the time it takes a home to sell is a good benchmark for how competitive a market is.

“It captures both how much demand there is for homes, but also the availability of homes for buyers to choose from,” he said.

“When homes are selling quicker, it suggests there are more buyers for any given home, and more competitive conditions.

“It doesn’t always perfectly correlate, but it’s a useful summary measure.”

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