Hobart home values increase by 5.2 percent over the past three months: CoreLogic

Hobart home values increase by 5.2 percent over the past three months: CoreLogic
Hobart home values increase by 5.2 percent over the past three months: CoreLogic

Home values in Hobart have increased by 5.2 percent over the past three months and are +6.2 percent higher over the past year according to CoreLogic.

CoreLogic's Housing and Economic Chart Pack for August noted values have increased by just 15.5 percent over the past 10 years. 

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Hobart home values increase by 5.2 percent over the past three months: CoreLogic

The latest June quarter has backed up the CoreLogic growth advisory, by recording the highest number of real estate sales in a quarter since March 2010, according to the Real Estate Institute of Tasmania.

Hobart recorded a $10,000 increase in median house sale price to $395,000 whilst Launceston and the North West Centres remain stable at $285,000 and $230,000 respectively. Increases were again recorded in the sale of units/ townhouses with Launceston prices increasing 22 percent.

Some 1749 house sales were recorded in total across the state at a median price of $315,200; 319 units/townhouses at $258,000 and 394 land sales with a median price of $130,000.

REIT President, Tony Collidge, said Brighton, Central Coast, Devonport and Glenorchy Municipalities all recorded significant increases (greater than 20%) in house sales volume for the quarter.

Brighton was a standout with the number of sales increasing by 55.8 percent to 67 sales.

Sandy Bay retained the crown as Tasmania’s most expensive suburb with 23 sales at a median price of $800,000. Zeehan was Tasmania's most affordable town recording five sales at a median price of $55,000.

The Tasmanian rental markets are performing strongly with vacancy rates below 3 percent and with most achieving yields above 5 percent, the REIT president, Tony Collidge advised.

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Hobart Home Values

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