Hobart's property market gaining momentum: PRDnationwide
The Hobart property market continues to gain moment as buyers are noticing the potential of the Tasmanian property market holds, according to the latest report from PRDnationwide.
According to its report, Hobart Property Hotspots Second Half of 2016, as other cities around the nation are setting their sights on the peak of the market.
Hobart has kick-started itself from the doldrums, and is currently touted as the emerging property city in Australia.
The Hobart median house price has increased by 2.6% over only one single quarter to $395,000 in Q2 2016.
This growth is set to continue as not only central Hobart is garnering attention, but also the suburbs in greater Hobart are increasing in popularity due to their picturesque setting and proximity to the CBD.
“Hobart has strengthened its property credentials during 2016 by delivering stable growth parameters across the board,” said Tony Brasier PRDnationwide managing director.
“It’s set to build on this further into 2017 as Australia’s ‘quiet achiever’ city with potential. After flying under the radar for a while, it may now be Hobart‘s time to shine.”
Click pictures to open in new window:
A three bedroom house at 26 Hill Street, West Hobart (above) has been sold for $572,500.
Similarly a five bedroom house at 16 Summerhill Road, West Hobart (below) was sold for $565,000.
