Hobart market may have already peaked: HTW residential

The Hobart market is starting to show signs it is approaching or has reached its current cycle price peak, according to a recent Herron Todd White (HTW) residential report. 

CoreLogic suggests that the median price actually slipped in March.

"On the ground, we are seeing a flattening of prices in the inner ring, however demand for prestige remains historically firm," the valuation firm said. 

A recent over $1 million sale was a three bedroom penthouse apartment located in the heart of Hobart City (pictured below). 

The inner city apartment at 5A/117 Collins Street comprises of open plan living, master bedroom, two additional bedrooms with built in wardrobes and two secure car spaces. 

It's located near Salamanca and the Wharf. 

HTW said it's a different story in the middle to outer ring, however positive pricing and competition for housing is still evident. 

"This is true for the 50-kilometre commuter radius," the report said. 

A waterside house nestled on the banks of Gypsy Bay is on the market with over $550,000 hopes (pictured below). 

Sitting on a 564 square metre allotment, the home at 113 Linden Road, Primrose Sands comprises open plan living, kitchen with granite benchtops, two bedrooms and rear yard. 

Local boat ramp is only a few minutes away together with local convenience store and beaches.

Vacancy rates remain tight with little evidence of the housing shortage easing.