Hobart house prices slip 1.4% over the March quarter
House prices in Hobart fell 1.4% over the last quarter as the number of sales dropped 4.6%, according to the Real Estate Institute of Tasmania.
The median house price drop was most strongly felt in the outer suburbs where prices fell 8% to $322,000. Sale numbers dropped 4.5% to 107 sales.
Inner Hobart house prices increased by just 0.1% to $455,000, but sales numbers dropped 9.1% to 130.
Middle Hobart house prices increased 5.2% to $326,000 as sales figures dropped 1.5% to 202.
For other dwellings prices increased 1% across Hobart over the quarter while sales numbers dropped 1.7%.
Middle Hobart had a surge in sales of other dwellings, up 34% to 63 sales. Median prices slipped 1.3% to $265,000.
Strong gains in prices for other dwellings were felt in outer Hobart where median prices increased 9.4% to $290,000 though sales numbers dropped 29.6% to 19 sales.
And in Inner Hobart, other dwellings increased in price by 4.7% to $335,000. Sales numbers dropped 21.7% to 36 sales.
Most buyers in Tasmania over the quarter were 2nd home buyers, making up 56% of sales. This was followed by first home buyers at 19% and investors at 12%. There were just 4 developer sales recorded by the REIT.
