Hobart market reaches price peak: HTW residential
The Hobart market is starting to show signs it is approaching or has reached its current cycle price peak, according to a recent Herron Todd White (HTW) residential report.
CoreLogic suggests that the median price actually slipped a touch in March.
"On the ground, we are seeing a flattening of prices in the inner ring, however demand for prestige remains historically firm," the valuation firm stated.
A penthouse apartment located in the heart of Hobart CBD has recently been sold for over $1 million.
The apartment at 5A/117 Collins Street (pictured below) comprises master bedroom, two additional bedrooms, kitchen and open plan living.
It's just minutes to Salamanca and the Wharf.
"In the middle to outer ring however we continue to see positive pricing and competition for housing. This is true for the 50-kilometre commuter radius," the valuation firm added.
A three-bedroom house at Primrose Sands (pictured below) has been recently sold for $252,000.
Situated about 150 metres from the beach, the house at 8 Esplanade comes with three bedrooms, open plan living, dining and kitchen, and single lockup garage.
It has been offered for the first time since 2003.
The report notes that vacancy rates remain tight with little evidence of the housing shortage easing.