7/21A Balmain Street, Glenorchy TAS 7010
7/21A Balmain Street, Glenorchy TAS 7010
This is a 2-bedroom, 1-bathroom unit with 2 toilets and a single carport, offering a generous 105 square metres of internal living space. The building dates from the mid-2000s and sits on a large 3,309 square metre lot, though that land is shared across the entire complex. A flood overlay has been identified for the property, which is a material consideration for any buyer.
The unit’s floor plan is spacious for a two-bedroom configuration, placing it above the typical entry-level stock found in Glenorchy. Its mid-2000s construction means it avoids the maintenance issues of much older buildings while not commanding the premium of brand-new developments. This property is best suited to first-home buyers seeking more room than a standard apartment, or investors looking for a solid rental yield in a suburb with steady demand. The presence of reliable NBN and 5G coverage adds practical appeal for professionals working from home.
The flood overlay is the single most significant factor that may affect the property’s value and future resale. It does not automatically preclude purchase or lending, but it could impact insurance premiums and may restrict any future development or significant renovations. Buyers should obtain a flood risk report and speak with their insurer before committing. The older build, while solid, means finishes and fixtures are likely original from 2007, so a budget for updates should be considered. The large shared land holding offers no direct benefit to the unit owner, but it does mean the complex is not land-constrained, which may limit capital growth compared to tightly held sites.
Detailed Independent Property Report prepared by PropCred Analyst team for 7/21A Balmain Street, Glenorchy TAS 7010
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Glenorchy is positioned as an affordable entry point to Greater Hobart, benefiting from its proximity to the city’s infrastructure. Demand is driven by buyers seeking value and investors capitalising on an acutely undersupplied rental market, with vacancy rates critically low. Recent price trends show solid growth across both houses and units, supported by strong buyer interest and rapid sales. Future growth is underpinned by the persistent housing shortage across Tasmania, though this same supply constraint presents a key risk to affordability and market balance.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
3309m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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