Hobart property market tight

Pete WargentJuly 5, 20170 min read

Listings rose 3 percent in June, driven mainly by a 7 percent jump in Brisbane.

Higher listings in the month mirror recent softening auction trends, reported SQM Research. 

Over the year, listings are still 3.3 percent lower, with Melbourne (-12.7 percent) and Hobart (-14,8 percent) recording excessive declines. 

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Melbourne house prices have exploded 

The Hobart market is very tight, with a total of only 2912 listings, sending rents and house prices higher. 

With the other exception of Melbourne, listings are generally higher this year than last.

Listings in Brisbane jumped by 7 percent in June, as vendors struggle gamely to offload a glut of apartment stock.  

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Meanwhile SQM reported that median asking prices in Melbourne have exploded, rising by 22 percent over the year to June. 

Indeed, Melbourne asking prices for houses have increased by a massive 48 percent over the past three years, now comfortably outstripping growth in all other capital cities, including house prices in Sydney at 39 percent. 

 

PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.

His latest book is Four Green Houses and a Red Hotel.

Pete Wargent

Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.
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