Due Diligence Report — 42 Nelson Road, Mount Nelson TAS 7007

1 Property Details

Home Facts
Property Type	Residential House
Bedrooms	4
Bathrooms	2
Car Spaces	2 (double garage)
Living Area	Approx. 230 m² (from listing)
Land Area	650 m²
Year Built	Circa 1975
Construction	Brick veneer, tiled roof
Street Frontage	Approx. 18.5m

Listing Information
Listing Agent	Harcourts Hobart
Listed Date	9 May 2026
Days on Market	17 days
Asking Price	$895,000
Price Reduction	None to date
Open Home History	3 opens held
Council Area	Hobart City Council
LGA	Hobart
Title Type	Freehold

2 Estimated Market Value

Timar Estimated Value

$865K

Range: $855,000 – $875,000

Confidence Level

High — 6 strong comparable sales within 12 months

Asking Price$895,000

Timar Mid-Point Estimate$865,000

Premium to Estimate+$30,000 (+3.5%)

Suburb Median (4 bed)$872,000

Land Value Estimate$410,000

Improvement Value$455,000

Sales Comparison

$862K

Based on 6 adjusted comparable sales within 1km, past 12 months. Strongest method given data density.

Automated Valuation

$871K

CoreLogic AVM estimate (April 2026). High confidence rating. Slightly higher than comparable method.

Assessed Value

$830K

HCC assessed value 2025. Typically lags market by 12–18 months. Used as floor reference only.

3 Property Sales History

Date	Price	Change	Annual Growth	Type	Notes
May 2026 (current)	$895,000 (asking)	—	—	Listed	Current listing — not yet sold
March 2019	$595,000	+$115,000	+3.4% p.a.	Sold	Market sale, fully renovated kitchen
November 2011	$480,000	+$68,000	+4.2% p.a.	Sold	Market sale, original condition
June 2005	$412,000	—	—	First Listed	Earliest recorded sale on title

Sales history sourced from CoreLogic / Cotality title records. 21-year compound annual growth rate from 2005–2026 (asking): approximately 3.7% p.a. The property was renovated between the 2011 and 2019 transactions, which partly explains the lift in value during that period.

4 Comparable Recent Sales

Address	Sold	Bed/Bath	Land	Price	$/m² land	Notes
18 Montagu St, Mount Nelson	Jan 2026	4 / 2	612 m²	$842,000	$1,376	Similar era, updated bathrooms
7 Stowell Ave, Mount Nelson	Feb 2026	4 / 2	680 m²	$878,000	$1,291	Larger land, similar build era
33 Cascade Rd, South Hobart	Mar 2026	4 / 2	590 m²	$855,000	$1,449	Adjacent suburb, slightly higher density
11 Waimea Ave, Mount Nelson	Apr 2026	3 / 2	700 m²	$830,000	$1,186	3-bed discount, larger land parcel
52 Princes St, Sandy Bay	Mar 2026	4 / 2	625 m²	$905,000	$1,448	Premium suburb premium — slight uplift
61 Cascade Rd, South Hobart	May 2026	4 / 1	620 m²	$798,000	$1,287	1-bath discount, original condition
42 Nelson Rd (Subject)	Listed	4 / 2	650 m²	$895,000 (ask)	$1,377	3.5% above comp mid-point of $865K

Comparable sales within a 1.5km radius, sold in the past 6 months. All sales verified via CoreLogic / Cotality. The subject property's $895,000 asking price sits approximately 3.5% above the adjusted comparable midpoint of $865,000. The most directly comparable sales (18 Montagu St and 7 Stowell Ave) support a range of $842K–$878K for the subject.

5 Council Zoning & Planning Overlays

Zoning Summary

ZoneGeneral Residential

CouncilHobart City Council

Min. Lot Size450 m² (compliant at 650 m²)

Max. Building Height8.5m (existing compliant)

Subdivision PotentialPossible (STCA) — seek planning advice

Title TypeFreehold

EasementsNil noted on title

Planning Overlays

Flood OverlayNot identified on HCC mapping. Elevated site, no waterway proximity noted.

Bushfire OverlayNot within a Bushfire Prone Area per Tasmanian Planning Scheme maps.

Heritage OverlayNo heritage listing on HCC or State Heritage Register. Not in a heritage precinct.

Slope / StabilityModerate slope noted (rear of site). Standard for Mount Nelson. Recommend geotechnical check if adding structures.

EnvironmentalNo contamination or environmental notices identified on this title.

6 Suburb Analysis & Growth Outlook

$872K

Median House Price (4 bed)

+5.2%

12-Month Price Growth

18 days

Median Days on Market

1.4%

Vacancy Rate

+42%

5-Year Price Growth

8 / 10

Timar Suburb Score

Indicator	Mount Nelson	Hobart LGA	Tasmania
Median house price (all)	$830,000	$765,000	$635,000
12-month growth	+5.2%	+3.8%	+3.1%
Rental vacancy	1.4%	1.7%	2.1%
Owner occupier rate	74%	61%	66%
Median household income	$108,400	$89,600	$76,800
Population (suburb)	5,840	—	—

Analyst Outlook

Mount Nelson sits on the southern slopes above Hobart with city and Derwent views from upper streets. It is one of Hobart's most consistent family suburbs: high owner-occupier rates, low vacancy, and a well-established private school corridor (Hutchins, St Michaels, Fahan). Price growth has consistently outpaced the Hobart LGA average over 5 and 10-year periods. Demand is supported by limited new supply (no large-scale development possible), interstate migration continuing at a positive rate, and the suburb's appeal to families upgrading from Sandy Bay or North Hobart. The outlook for 12–24 months is stable to moderately positive, with 3–5% annual growth anticipated.

7 Neighbourhood Profile

Local Amenities

Sandy Bay Shopping Centre — 2.1km (Coles, specialty retail)
Hobart CBD — 4.5km by car, 20 min walk to bus connections
Hutchins School — 1.6km (private boys school, K–12)
St Michael's Collegiate — 2.0km (private girls school)
Fahan School — 1.4km (independent girls school)
Sandy Bay Primary — 1.8km (public, high-performing)
Sandy Bay Beach — 2.8km

Demographics (ABS 2021)

Median age42 years

Owner occupiers74%

Renters26%

Ave. household size2.5 persons

University educated (%)48%

Families with children41% of households

Transport

Drive to CBD12–15 min

Bus routeRoute 60/61 — 20 min to city

Hobart Airport28 min drive

Drive to Sandy Bay7 min

Walk scoreModerate (56/100)

Infrastructure & Services

NBNFTTC available

Water / sewerageConnected (TasWater)

PowerOverhead (Aurora Energy)

Rubbish collectionHCC — weekly kerbside

Nearest hospitalRHH — 5.5km

8 Risk Score

2.8

out of 10 — LOW RISK

1 — LOW RISK10 — HIGH RISK

Strong suburb fundamentalsHigh owner-occupier rate (74%), consistent growth, low supply — all structural positives for price stability

No planning overlaysNo flood, bushfire, heritage, or contamination issues found. General Residential zoning is clean.

Good comparable sales data6 sales within 12 months give high-confidence value estimate. Low information risk on pricing.

Asking price above fair value$895K ask is 3.5% above the estimated midpoint. Negotiation is required — do not pay full asking.

Established brick veneer dwelling1975 brick veneer construction is durable and low-maintenance. No structural concerns identified from listing photos.

Slope at rear of siteModerate rear slope. No immediate concern but limits some rear-yard uses. Geotechnical advice recommended if planning to add structures.

Positive days on market signal17 days on market at time of assessment — no distress signal, and no price reductions. Normal market conditions.

School zone and lifestyle premiumPrivate school corridor adds demand resilience. Properties in this zone hold value better in downturn conditions.

9 Go / No-Go & Negotiation Strategy

Timar Recommendation

Go — with conditions

42 Nelson Road is a quality family home in one of Hobart's most consistently performing suburbs. The fundamentals are strong: clean planning, good comparables, a desirable school zone, and a low-risk physical profile. The property stacks up as a long-term family home.

The only meaningful risk is the asking price. At $895,000, the vendor is seeking a 3.5% premium above our estimated fair value of $865,000. This is not unusual for a well-presented property with good agent marketing — it is standard practice to list above fair value and negotiate. The recommended approach is an offer in the $855K–$870K range, with a ceiling of $875,000. Do not pay $895,000.

Negotiation Steps

1

Open at $855,000. Cite 18 Montagu St ($842K) and 11 Waimea Ave ($830K) as your reference points. This is a reasonable, well-evidenced opening.

2

If rejected, move to $865,000–$870,000 citing the adjusted comparable midpoint. This is fair value — any vendor who understands the market should engage at this range.

3

Set a firm ceiling of $875,000. Above this, you are paying a premium for the specific property — which may be acceptable if the lifestyle fit is strong, but understand you are above fair value.

4

If the agent claims multiple offers, verify by asking for best and final offer process in writing. Do not be rushed into a counter above $875K based on unverified verbal pressure.

Pre-Exchange Checklist

✓

Building and pest inspection — engage an independent inspector before exchange. Brick veneer properties from this era can have subfloor moisture issues.

✓

Section 32 / Vendor Statement — review with your conveyancer before signing. Verify title, easements, and encumbrances.

✓

Finance pre-approval — confirm borrowing capacity at your offer price with your broker or lender before committing.

✓

Stormwater / drainage — given the rear slope, ask agent whether any drainage work has been done. A plumbing inspection is optional but worth considering.

Recommended Offer Range

$855,000 — $875,000

Ceiling: $875,000. Do not pay $895,000 (asking price).

Ben Brownless

Buyer's Agent, Timar Buyers Agency

This due diligence report was prepared using CoreLogic, Cotality, HCC planning data, SQM Research vacancy data, and Timar's proprietary suburb scoring framework. Ben has assisted buyers across Greater Hobart since joining Timar.

Questions about this report? Call Ben on 0438 177 599 or email david@timar.com.au.

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