Outer Hobart defies Tasmania market plateau

Alistair WalshDecember 7, 2020

Outer Hobart defied the trend of falling sales in Tasmania in the September quarter according to the Real Estate Institute of Tasmania.

After the 10.% increase in house sales in the June quarter for Tasmania, sales fell 1.6% in the September quarter as sales in outer Hobart increased 21% over the quarter and 62.8% over the year.

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Median house prices in outer Hobart increased 6.2% over the quarter to $345,000 and 12.3% over the year. 

Across Hobart prices increased 1.4% over the quarter to $352,000 and 3.5% over the year.

Launceston house sales are down 7.3% for the quarter, while house sales in the North West Centres increased 1.8%.

House prices in Launceston are down 1.3% over the quarter to to $270,000 but up 1.9% for the year. In the North West Centres prices are up 2% and 7.6%

Across Tasmania the median house price fell 1.4% over the quarter to $295,000, but is up 3.5% for the year.

The six municipalities in Tasmania recording a median house price higher than the State median are Clarence ($350,000), Inner Hobart ($510,000), Kingborough ($385,000), Meander Valley ($300,000), Sorell ($325,000) and West Tamar ($320,000).

REIT President Adrian Kelly says after such a dramatic increase in house sales during the previous quarter,it was positive not to see too large a decline in the figures.

“The September Quarter Report also showed us which suburbs in Tasmania are experiencing the highest turnover, as well as which are the most affordable and expensive,” he said.

“The top three most expensive suburbs were Battery Point, Sandy Bay and Mount Nelson.

“The top three Tasmanian suburbs with the highest turnover of house sales were Kingston, Devonport and Blackmans Bay.

“First home buyers also remained relatively steady for the June quarter, accounting for 17% of house sales across the State, with a median purchase house price of $236,250.”

He said second home buyers still hold more half the property market.

Alistair Walsh

Deutsche Welle online reporter

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