Hobart’s property market gains traction: CoreLogic-Moody's

Hobart’s property market gains traction: CoreLogic-Moody's
Hobart’s property market gains traction: CoreLogic-Moody's

Hobart home values are tipped to rise 9.2 percent in 2017 and 1.8 percent in 2018 according to the CoreLogic-Moody’s Analytics Australian Home Value Index Forecast, 2017Q1.

The report said Hobart’s property market has gained traction this year as wage growth accelerated and the unemployment rate trended lower.

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Hobart’s property market gains traction: CoreLogic-Moody's

"Aided by a lower Australian dollar, tourism has buttressed the local economy," the report said.

"Home values are expected to rise 9.2 percent in 2017 and 1.8 percent in 2018. However, apartments will likely fall 0.9 percent in 2017. 

"Population growth in Tasmania has picked up, driven in part by stronger interstate in lows.

"This is helping to boost demand for services and tourism, supporting employment growth and pushing up house prices as demand grows.

"State final demand was relatively upbeat at 2.3 percent in 2016. However, the higher participation rate also pushed up the unemployment rate to a peak of 7.2 percent in August before it trended down in the final months of the year.

"Plans to relocate a major university campus should boost construction activity in 2017."

 

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Hobart Dwelling Values

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