James Nelis
Grovedale, VIC+18
Hobart · Northern Suburbs
Nestled in the foothills of kunanyi / Mount Wellington, Lenah Valley is a leafy, picturesque suburb just 5km from Hobart's CBD. It offers a blend of historic Federation-era homes and modern residences on its hilly, winding streets. The area is known for its family-friendly atmosphere, strong community spirit, and direct access to extensive bushwalking tracks. While some areas can be windy or lose winter sun early due to the terrain, its proximity to both nature and the city gives it a unique and desirable character.
Market snapshot
Price register · May 2026
Median house
$700,000 - $950,000
Mid-band $825Kspread 30%
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Create Your Free ProfileLast reviewed 13 May 2026
Median unit
$450,000 - $600,000
Mid-band $525Kspread 29%
Days on market
~16-38 days
Median listing-to-sold window. Shorter = tighter buyer field.
Auction clearance
Private-treaty market
Share of auctions sold. Brisbane skews private-treaty.
Rental yield
3.7% to 4.7%
Gross yield on house stock. Premium suburbs compress.
5-year house-price growth
+12% to +32%
cumulative since 2021Who buys here
Established families · Professional couples · Nature lovers
5-year trend
Modelled trajectory anchored on aggregated 5-year median figures. Indicative; not month-by-month observed data.
Market analysis
The Lenah Valley property market presents a compelling case for stability and long-term growth, making it a consistent favourite among Hobart buyers. As of May 2026, the median house price sits at a robust $830,000, reflecting a significant 10.7% increase over the past year. This trajectory underscores the suburb's desirability, driven by its leafy environment, quality housing stock, and proximity to the CBD. Properties are selling quickly, with an average of just 27 days on market, indicating that demand continues to outstrip supply. This is further evidenced by the tightly held nature of the suburb, where homes are owned for an average of over 10 years, limiting available stock.
Interestingly, the unit market has moved in the opposite direction, with the median price declining by 8.2% to $517,500. This divergence may suggest a market correction after a period of rapid growth or a shift in buyer preference towards larger, family-sized homes which are more prevalent in the area. For investors, this could present a strategic entry point into the unit market, which still offers a strong rental yield of around 5.1%. The rental market for houses also remains healthy, with a yield of 4.2%, underpinned by very low vacancy rates across the suburb.
The market's fundamentals are strong. A high owner-occupier rate of over 72% contributes to a well-maintained, stable community. The demographic profile is skewed towards professionals and families with solid household incomes, which supports long-term price resilience. While affordability is becoming a factor, as it is across Hobart, Lenah Valley's blend of lifestyle, amenities, and accessibility continues to justify its premium. Future growth is likely to be sustained by these enduring qualities rather than speculative spikes, appealing to buyers with a buy-and-hold strategy.
A market defined by high demand and low supply, Lenah Valley offers capital stability and a premium lifestyle at the foot of the mountain.
Why a buyers agent
A buyer's agent is invaluable in Lenah Valley for navigating the suburb's subtle but critical nuances. An expert on the ground will know which side of the valley retains the afternoon sun in winter, a crucial lifestyle and energy-efficiency factor. They can identify which streets are most affected by the 'gully winds' from the mountain and which offer sheltered, tranquil pockets. The suburb's hilly terrain means access can be a real issue; an agent can vet properties for steep driveways or challenging access that photos don't reveal. Furthermore, Lenah Valley's housing stock is diverse, from 1920s weatherboard cottages to 1960s brick homes and contemporary builds. An agent brings a deep understanding of the potential pitfalls and renovation opportunities inherent in each era, from outdated wiring in older homes to the specific build quality of different subdivisions. This local knowledge provides a significant competitive advantage in a fast-moving market where the best properties are often sold before they are widely advertised.
Enjoy the best of both worlds with direct access to the walking trails of kunanyi / Mount Wellington while being only a 10-minute drive from Hobart's CBD. It's a perfect balance of outdoor lifestyle and urban convenience.
With excellent schools, abundant parks, and a high rate of owner-occupiers, Lenah Valley has a stable and engaged community. It's an ideal environment to raise a family or enjoy a peaceful retirement.
The property market is characterised by consistently high demand and limited supply, leading to strong, long-term capital growth. The suburb's enduring appeal makes it a secure investment for owner-occupiers and investors alike.
From the local shops on Augusta Road and Calvary Hospital to the vibrant North Hobart dining precinct just minutes away, all essential services and lifestyle amenities are within easy reach.
Compare
| Metric | This suburbLenah Valley | NearbyGlenorchy | NearbyMoonah | NearbyNew Town |
|---|---|---|---|---|
| Median house | $700,000 - $950,000 | $550,000 - $725,000 | $575,000 - $775,000 | $750,000 - $1.00M |
| Median unit | $450,000 - $600,000 | $425,000 - $575,000 | $400,000 - $525,000 | $375,000 - $525,000 |
| Auction clearance | — | — | — | — |
| Days on market | ~16-38 days | ~14-34 days | ~10-22 days | ~16-36 days |
| Year-on-year growth | +6% to +16% | +0% to +10% | +0% to +10% | -4% to +6% |
| 5-year growth | +12% to +32% | +23% to +43% | +19% to +39% | +14% to +34% |
| Rental yield | 3.7% to 4.7% | 4.3% to 5.3% | 4.4% to 5.4% | 3.4% to 4.4% |
| Postcode | 7008 | 7010 | 7009 | 7008 |
Snapshot date varies by suburb; see individual suburb pages for figures.
The place
Lenah Valley offers a quintessential Hobart lifestyle, blending natural beauty with suburban convenience. Nestled against the backdrop of kunanyi / Mount Wellington, the suburb is a haven for outdoor enthusiasts, with direct access to the extensive trail network of Wellington Park, including the popular Lenah Valley Track. Key recreational spaces include John Turnbull Park, a large off-leash dog park and sports ground, and the more secluded Ancanthe Park, home to the historic Lady Franklin Gallery.
The suburb is well-serviced by amenities. The main shopping strip along Augusta Road provides a collection of local shops, a bakery, cafes, pharmacies, and GP clinics. For more extensive shopping, the New Town Plaza, with its Kmart and Coles, is just a short drive away.
Families are drawn to the area for its reputable schools, which include Lenah Valley Primary School and Immaculate Heart of Mary Catholic School, both located within the suburb. Other nearby options include New Town Primary and Sacred Heart College.
Public transport is reliable, with Metro Tasmania bus routes frequently servicing Augusta Road and Lenah Valley Road, providing a direct corridor to the Hobart CBD, approximately a 10-15 minute drive away. The presence of Calvary Hospital, a major private hospital, also adds to the suburb's appeal and provides local employment.
Frequently asked
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The 5-year trajectory is a modelled curve anchored on the documented cumulative growth rate. Editorial review: 13 May 2026. Updated quarterly.
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