How much Hobart home prices grew in 12 months<\/a><\/p>\n![\"\"\/](\"data:image\/svg+xml,%3Csvg)
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While Tasmania has experienced a drought on the investor front for years, June marked a resurgence \u2014 however, with an asterisk.<\/p>\n
Mr Yaxley said the rise had been \u201ccounterbalanced\u201d by investors selling their rental homes.<\/p>\n
Investor activity increased by 41.5 per cent over the quarter to record this part of the market\u2019s strongest result in three years. <\/p>\n
These 429 sales were 25.4 per cent more than June 2024\u2019s figure. More than half of these sales, 231, were acquisitions made by interstate-based purchasers.<\/p>\n
A further 290 interstate buyers purchased to live in Tasmania.<\/p>\n
Mr Yaxley said some of these investors, who entered the Tasmania market when there was last an opportunity for capital growth, may have reached the end of their cycle.<\/p>\n
\u201cIt could be that the time is right for them to cash out,\u201d he said.<\/p>\n
\u201cIt\u2019s interesting that at the same time other investors see Tasmania for the opportunity it offers.<\/p>\n
\u201cWe want a positive environment for investors in Tasmania. Rental property sales outpacing rental supply is something we cannot afford.\u201d<\/p>\n
<\/p>\n
No.2 Roma Ct, Sandford is for sale with Peterswald priced at $1.3m-plus.<\/p>\n
Meanwhile, first home buyers acquired 457 properties in June, 10 more than the previous quarter but 22 less than the same time last year.<\/p>\n
The majority bought houses (344), then units (65), with 48 purchasing land.<\/p>\n
Purchases by internationals accounted for just 10 sales in the quarter.<\/p>\n
There were 215 homes sold in excess of $1m. This was about even with the previous quarter \u2014 four more sales \u2014 but six fewer than the same time last year. <\/p>\n
Locals were responsible for four out of every five sales in this price range.<\/p>\n
Hobart\u2019s median house price was $730,000 in June. A 0.7 per cent fall in the median was attributed to the increased volume of sales in the city\u2019s more affordable suburbs. <\/p>\n
<\/p>\n
No.49 Hayes Rd, Adventure Bay is on the market with Fall Real Estate.<\/p>\n
House sale numbers in Launceston were up 5.7 per cent over the quarter but were down 10.7 per cent on last year. <\/p>\n
Its median price, $550,000, dropped by $25,000 over the quarter and was $10,000 less than the same time last year.<\/p>\n
While Hobart home values surged higher around and before Covid, a softer market in recent years has seen Hobart\u2019s pricing advantage return when compared to other capitals.<\/p>\n
\u201cThe lifestyle and the price advantage that we have compared to elsewhere \u2014 plus good schools, food, and community \u2014 you can see why people would want to live here,\u201d Mr Yaxley said. <\/p>\n
JUNE QUARTER<\/p>\n
Total sales 2578 <\/p>\n
Total value of sales $1,592,903,804<\/p>\n
Hobart\u2019s median house price $730,000<\/p>\n
Hobart\u2019s median unit price $577,500<\/p>\n
Hobart rental vacancy rate 1.8 per cent<\/p>\n
Median rent three-bedroom Hobart house $560 per week<\/p>\n
Highest median price Battery Point $1.38m<\/p>\n
Lowest median price Queenstown $210,000<\/p>\n
Most land sales Huon Valley 28<\/p>\n
Source: REIT<\/p>\n","protected":false},"excerpt":{"rendered":"Property transaction figures were up in the June quarter. Picture: Supplied New data from the state\u2019s peak real…\n","protected":false},"author":2,"featured_media":118435,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,99,171],"class_list":["post-118434","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-au","tag-australia","tag-business","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/118434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=118434"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/118434\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/118435"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=118434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=118434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=118434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}