Hobart house sales down over quarter but picture mixed

Tasmania's house sales are recording a 1.6% decrease over the September quarter, after a 10.5% increase over the June quarter, according to the latest Real Estate Institute of Tasmania (REIT) figures.

However, the picture is mixed if you dig a little deeper. Considering Hobart, REIT president, Adrian Kelly, said that house sales were down 11% for the quarter.

In Outer Hobart, sales were actually up 21% for the quarter and 62.8% for the year.

“Launceston house sales were down 7.3% for the quarter, while house sales in the North West Centres saw a slight increase, recording a 1.8% increase for the quarter," Kelly said.

“The median house price for Tasmania also saw a slight decrease for the quarter, down 1.4%, but resulting in a 3.5% increase over the year to date."

Looking at current median prices, he listed the top three most expensive suburbs:
Battery Point
Sandy Bay
Mount Nelson

The top three suburbs with the highest turnover of house sales:
Kingston
Devonport
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 over half the property market, with the report revealing they account for 55% of house sales at a median house price of $317,750, while interstate buyers held 14% of the market share for the September quarter."