Rent like a king in historic Battery Point for $1500pw – realestate.com.au

News Corp Australia Network

ONE of Tasmania’s most amazing homes has been brought to the rental market, meaning you can live here if your pockets are deep enough.

Vernon was built in 1878 and has been updated in a sophisticated, contemporary style with interiors that could be cut straight from an architecture or design magazine.

The five-bedroom three-bathroom Mona St mansion is one of the few Tasmanian homes that has sold for $5m or more, a feat it achieved in May of 2021.

Its current rental listing pitch describes the house as an ‘iconic residence’.

“Rarely are properties of this calibre with such a prestigious address offered on the rental market in Hobart,” it says.

“Words and photos cannot fully describe the magnificence of this home.”

MORE: Gorgeous throughout, Vernon is one of Tassie’s finest

A sandstone church vs. riverside Toorak, which one wins?

No.11 Mona St, Battery Point features large formal and informal living rooms, and a sleek eat-in kitchen with a long stone island bench.

The family room is highlighted by a central fireplace.

There are water and garden views from the top floor, plus double-sized bedrooms with bespoke wardrobes, a bathroom, and a study.

The master bedroom is pure luxury, including its marble ensuite and a dressing room.

Contact Edward Windsor for details.

MORE: From Federation to modern marvel in Hobart’s best suburb

Global interest in fully leased sandstone gem at Salamanca

Meanwhile, the latest rental results from PropTrack show Hobart’s vacancy rate downshifted to 1.21 per cent in October.

This monthly decline of 0.18 percentage points was the largest among the capital city markets.

In regional Tassie, the October vacancy rate was 1.03 per cent, 0.12 percentage points lower monthly and 0.52 lower over the quarter.

Economist Anne Flaherty said tenants faced tough conditions in October, with vacancies falling.

Across Australia, the national vacancy rate has been trending down for well over three years, Ms Flaherty said.

“This is a trend that looks likely to continue off the back of strong population growth and a slowdown in the supply of new housing,” she said.

Figures from SQM Research show there were 373 Hobart rental vacancies in October 2023, down from 455 one month earlier.

At this time last year, there were only 127 rentals available in Hobart.

SQM managing director Louis Christopher says in a rental market with tightening vacancy rates — in cities and regional areas — the prospect of an easing in rents was “very unlikely”.

He said future rental increases, between 10-15 per cent, were likely.

“Such rises will continue to work against the RBA’s objective of bringing back inflation to 2-3 per cent,” he said.