$100k in a year: Inside Risdon Vale’s remarkable price surge

No.25 Kerria Rd, Risdon Vale is listed with Fall Real Estate at “Above $595,000”. In May, a humble Eastern Shore suburb was ranked second in the nation for rising buyer demand. This month, Risdon Vale proved it was no fluke by taking Australia’s crown as the most in-demand neighbourhood. Five Hobart suburbs and Upper Burnie made REA Groups’s Top 10 list, with the year-on-year change in demand for homes in these areas ranging from 139 per cent in Berriedale up to 245 per cent in Risdon Vale. Affordability appears to be a key driver, with each Hobart suburb on the list having a median price lower than greater Hobart’s. But relatively cheaper buying options were not the only factor. MORE: ‘Breathtaking’: Vineyard estate with two historic homes listed Tenants slugged with 6 per cent hike in just three months Blue-chip Boral lease draws strong interest Fall Real Estate agent Rupert Hansen. Picture: Supplied Fall Real Estate agent Rupert Hansen has worked on half-a-dozen deals in Risdon Vale over the past year and said the suburb’s upward trajectory is clear to see. Mr Hansen said everyone househunting in this suburb knows it is a tight market. “They may have already missed out on proper...