Hobart October quarter median house and unit price round-up

Hobart house prices are forecast to grow by between 0% and 3% in 2012, according to Australian Property Monitors. 

“Hobart’s housing market has retreated in 2011 with median house prices down by just over -3 % for the year,” says APM senior economist Andrew Wilson. 

“Although this is a reasonable performance compared to some of the other capitals, a revival in buyer activity in 2012 is heavily dependent on a lift in the local economy.

“With no direct exposure to the resource sector, the Tasmanian economy is set to continue to meander in 2012. As a consequence buyer confidence will remain subdued and house price growth will be flat for most of 2012."