24 Commercial Road, North Hobart TAS 7000

| 2-bed unit $895k+ | North Hobart | 251sqm lot | no heritage overlay | few similar sales | The property carries a known price gap versus its own suburb’s recent unit clearance data, which sits at zero percent at auction for two-bedroom units. That means a buyer relying on resale liquidity in the short term should expect to negotiate from a weaker position—the market is not absorbing these units quickly at current levels. The land-to-building ratio is generous for a 1997 build, and the absence of heritage or bushfire overlays removes two common cost risks in inner Hobart. In practical terms, the buyer is paying for a detached feel on a compact block with manageable outgoings, not for flipping. This is a hold property best suited to an owner-occupier or a long-cycle investor who can ride a slower resale cycle. What makes this unit competitively rare is the outdoor space—balcony, courtyard and deck on a single-level footprint—combined with reverse-cycle air conditioning throughout. Most two-bedroom units in North Hobart sit on smaller lots or share walls; this one stands alone on 251 square metres. The proximity to The Friends’ School and Campbell Street Primary delivers a natural tenant pool for families, and the 60 percent owner-occupier rate on the street suggests stable neighbours rather than transient rental stock. This property serves best a professional couple or a small family who want the walk-to-cafes lifestyle without strata noise. The only comparable sale—a villa nearby at 1/24 valued at $660,000 in early 2026—suggests the market hasn’t fully adjusted to the outdoor space premium at $895,000+, so the next buyer should test the vendor’s patience with an offer that reflects that gap and then commission a building inspection to confirm the 1997 finish is still tight.