Hobart may soon lose its status as most affordable capital city: Domain

If the current level of price growth in Hobart continues it could lose its title as most affordable capital city to purchase a house to Adelaide and Darwin, according to Domain's latest House Price Report.

The report found Hobart house prices have had a record period of growth, rising for 11 consecutive quarters.

Hobart House prices grew 2.7% over the quarter and 8.8% over the year to $479,685.

Unit prices fell 2.6% over the quarter and 3.5% over the year to $342,796.

Domain Senior Research Analyst, Dr Nicola Powell said: “Despite strong growth Hobart remains Australia’s most affordable capital city to purchase a house. Population fueled demand has outstripped supply, resulting in two years of double-digit growth.

“Hobart continues to be the standout performer for capital gains, bucking the national downward trend. However, even though the city continues to record growth, the pace has slowed from the peak rate of growth recorded at the end of 2017 and early in 2018.”