Budget Hobart houses will be the city's best 2015 performers: Domain Group

Budget Hobart houses will be the city's best 2015 performers: Domain Group
Jonathan ChancellorDecember 7, 2020

The Hobart housing market will consolidate its performance of 2014 with moderate prices growth expected through 2015, according to the Domain Group senior economist, Andrew Wilson.

Hobart has recorded prices growth over the last two years following a subdued period of buyer activity. The impact of lower interest rates since 2012 has been offset by an underperforming local economy that remains the worst performer of all the capitals. Recent signs, however, are positive with the local housing market recording strong growth over the December quarter.

Source: Domain Group

Hobart recorded moderate price growth of just 2.1% over 2014 following the previous year’s 5% result.

This years lower interest rates will feed into buyer confidence and add to the prospects of rising buyer activity. Hobart’s median house price is set to increase by between 3 and 5% through 2015.

Source: Domain Group

Best performers will be the budget and middle price market sections and regions with value perceptions from subdued prices growth over recent years driving increased changeover buyer activity.

The performance of the local economy will as usual be the key ingredient for rising housing market activity with recent encouraging signs of improvement this year. 

Source: Domain Group

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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