House or super, which has performed better in Hobart?

Homeowners in the Hobart suburb have seen huge growth over the decade. Picture: Roger Lovell

Hobart homeowners are making more money from their properties than their superannuation funds, new research shows.

Exclusive Finder data analysing super fund performance against property price increases shows greater Hobart dwellings had a 6.9 per cent 10-year annual compound growth rate.

This was higher than all the other capital cities and streets ahead of the combined capital rate of 4.5 per cent.

The average 10-year performance across all super funds is 5.7 per cent per year, according to Finder analysis of Super Ratings data, which measures 113 publicly released super fund products. The highest super fund return was 8.79 per cent, Finder found.

The research showed greater Hobart’s growth rate was 7 per cent for houses and 6.7 per cent for units. But many suburbs far eclipsed these marks.

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PropTrack statistics showing the annual change in median prices over the past 10 years revealed 41 suburbs where houses recorded from 7.1 per cent up to 13.2 per cent price growth.

This was led by Rokeby and followed by neighbouring Clarendon Vale (13 per cent), Gagebrook (11.8 per cent), Dodges Ferry (11.2 per cent), Risdon Vale (10.5 per cent).

Eastern Shore suburb Rokeby is Hobart’s home value growth leader.

Super outperformed house value growth in 18 Hobart suburbs, with the greatest difference in Dynnyrne and Battery Point where the annual change was 5.2 and 5.5 per cent.

Australian Taxation Office 2021 financial year figures say the average super fund balance for women between the ages of 65-69 is $403,038, and $453,075 for men.

These figures indicate many people are set to retire with less than the Association of Superannuation Funds of Australia’s comfortable retirement standard of $595,000.

Finder’s money expert Richard Whitten said retirement often arrives “sooner than you think”, and the more attention given to super now, the better.

“Many Australians are still well below the amounts suggested for a comfortable retirement, making proactive engagement even more critical,” he said.

“The younger you are, the better your chances of building a big nest egg. But it’s never too late to start putting a bit more money into your super.”

Finder’s Richard Whitten.

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Super Members Council chief executive Misha Schubert said younger Australians should not have to choose between homeownership and a secure retirement.

“They deserve the same opportunities as previous generations to have both a home and strong retirement savings,” Ms Schubert said.

Misha Schubert, chief executive Super Members Council.

Choosing what to invest in comes down to strategy, says Mortgage Choice broker Caroline Jean-Baptiste.

“Most people have a reasonably balanced view of property and super and tend to diversify over favouring one or the other,” Ms Jean-Baptiste said.

“We’re seeing self-employed people buying commercial property in their super, and we’re also seeing a lot of people use self-managed super funds for commercial properties and investment properties.”

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