Housing market in recovery Tasmania: HTW
Victoria and Tasmania are reporting a balanced market in the housing property market, according to Herron Todd White’s latest monthly market report.
The property advisory firm says that however Gippsland, Horsham, Bendigo and Warrnambool are reporting an over-supply of houses.
This maybe due to the trend in new houses being constructed with Victoria reporting a steady trend, with the exception of Gippsland which is declining, compared to Tasmania which is declining.
This is also supported by reports stating that Tasmania's housing market is starting to recover after falling to the bottom.
In contrast the Tasmanian and Victorian cities are reporting a mixture of over-supply of units and a balanced market.
This seems to correlate with a steady volume of units being sold in all areas as well as new units being constructed, with the exception of Tasmania which is seeing new construction declining, HTW advised.