South Hobart is 2018's early bird property hot spot

South Hobart is 2018's early bird property hot spot
South Hobart is 2018's early bird property hot spot
The Tasmanian suburb of South Hobart is the most in-demand location in Australia on

A good sign for Hobart is that rental demand is also high, suggesting that it’s jobs growth, not property speculation that is driving the market, Nerida Conisbee, the chief economist of REA Group said.

She forecasts demand from buyers will continue to grow in her 2018 preview.
The CoreLogic data suggests a recent flattening in price growth at around a $530,000 median for houses. The unit median sits at $350,000.
Conisbee suggests buyer activity is coming from far less affordable locations such as Sydney and Melbourne, and offshore demand is also increasing.
Overseas demand is being driven largely by a push from Tasmanian universities to attract overseas students and renewed interest in the city as a tourism destination.

"Hobart is a small market and speculation can be a driver of price growth, so it’s good news that rental demand is also high.

"It appears that the Tasmanian economy is changing from primarily government and agriculture to include growing tourism and education sectors."

The 10 most in-demand suburbs in Tasmania


 Suburb and Postcode

Median Price


South Hobart 7004



Mount Stuart 7000



Battery Point 7004



Bellerive 7018



Mornington 7018



Hobart 7000



North Hobart 7000



Lindisfarne 7015



Taroona 7053



West Hobart 7000



Recently a four bedroom Lawley Crescent home in South Hobart (below) sold for $570,000, slightly higher than the $530,000 median price for houses in the suburb.

It last traded for $142,500 in 1994.

South Hobart is 2018's early bird property hot spot

No house has sold in South Hobart under the median house price since October, which highlights the growing demand in the suburb.

That was a 1940s, former military house, two bedroom cottage on 600 sqm that fetched $474,000.

To find an apartment that sold for the median $350,000 in South Hobart you have to go back to early October when a 90 sqm two bedroom apartment sold for $315,000. (top, the view from the apartment).

The most recent unit sale was a three bedroom, two bathroom apartment with two living areas that sold for $535,600.

It has nearly quadrupled in price over the last 15 years. The unit last sold in 2002 when it went for $135,000.

South Hobart Property Demand

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