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.
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.