<\/p>\n
Economist Eleanor Creagh with high-end Tassie properties Glenfruin and Avalon. Picture: Supplied<\/p>\n
The top end of Tasmania\u2019s property market is awash with options for buyers with cash ready to splash.<\/p>\n
They could choose a modern marvel right by the water in Sandy Bay.<\/p>\n
Perhaps a 1880s Launceston landmark, with a contemporary twist.<\/p>\n
Or Quamby Estate offers 10-bedrooms plus its own nine-hole golf course.<\/p>\n
On the market today, buyers can find the 1829-built Harbour Master House in Battery Point; award-winning costal dream Avalon; the stately eight-bedroom Arcoona Manor; bespoke masterpiece Otago Edge; or Mona St\u2019s Gothic estate Vernon.<\/p>\n
And that\u2019s just the tip of the iceberg.<\/p>\n
MORE: Cutting-edge forest home\u2019s ensuite set below bedroom<\/a><\/p>\n Young buyers face dire cost of property \u2018hack\u2019<\/a><\/p>\n Eleanor Creagh, senior economist at REA Group, said common features in Tasmania\u2019s multimillion-dollar property market tend to be larger land sizes with larger homes and more prestige builds.<\/p>\n Often, these more expensive homes also have lifestyle positioning in Hobart\u2019s most expensive streets, Ms Creagh said, alongside waterfront views and luxurious renovations.<\/p>\n REA Group\u2019s Eleanor Creagh.<\/p>\n \u201cA lot of the time, the most viewed listings on realestate.com.au aren\u2019t where most people end up buying, rather they\u2019re the homes we love to dream about,\u201d she said.<\/p>\n \u201cReal estate is a national obsession and scrolling through incredible properties is a hobby in its own right for some.<\/p>\n \u201cListings that capture lots of views often have a wow factor, like luxury price points, architectural design, or stunning gardens.\u201d<\/p>\n MORE: A Tassie landmark for sale, with a twist<\/a><\/p>\n \u2018Strong demand\u2019: Why this AusPost site sold for $4.4m<\/a><\/p>\n No.1145 Westwood Rd, Hagley. Picture: realestate.com.au<\/p>\n No.1145 Westwood Rd, Hagley. Picture: realestate.com.au<\/p>\n Ms Creagh said properties trading at higher price points tend to trade less frequently than typical homes because they\u2019re often luxury lifestyle or legacy purchases, rather than stepping stones.<\/p>\n \u201cThese buyers are not typically driven by life cycle but rather securing a scarce asset and holding it through cycles,\u201d she said.<\/p>\n Abercrombys Tasmania estate agent Georgie Rayner.<\/p>\n Agents agree that while there is demand in the high-end market, it also requires patience, with extended sales campaigns the norm.<\/p>\n Abercrombys Tasmania estate agent Georgie Rayner said Tasmania\u2019s high-end is on the map more so now than ever before.<\/p>\n There is demand for prestigious Tasmanian homes, Mrs Rayner said.<\/p>\n \u201cThey don\u2019t necessarily sell fast, it\u2019s more about finding the right fit between property and purchaser,\u201d she said,<\/p>\n \u201cThere is a lot of interest from expats, to come home or have a Tasmanian property as part of their portfolio.<\/p>\n \u201cEvery day we receive inquiries from people in Queensland and northern NSW, people looking to escape the heat.<\/p>\n \u201cIf a renovation has been completed already, that\u2019s appealing. They sit longer if they require work.<\/p>\n \u201cInterestingly, inquiries are increasing from members of the AFL fraternity, or their buyer\u2019s agent.\u201d<\/p>\n MORE: Owner lists landmark Myer building for lease<\/a><\/p>\n \u2018Wild\u2019: Hobart\u2019s steady market set to surge<\/a><\/p>\n No.25-27 Castray Esp, Battery Point.<\/p>\n No.25-27 Castray Esp, Battery Point.<\/p>\n Elders Tasmania agent Abi Freeman said the high-end property segment is always consistent due to the nature of the purchasers. However, in recent times, Mrs Freeman said purchasers have approached the market with some caution, conducting in-depth due diligence on the property and assessing all their options before committing.<\/p>\n \u201cWith many prestige properties, interest comes from local and interstate purchasers,\u201d she said.<\/p>\n \u201cA portion of those interstate buyers are expats looking to return for the lifestyle, and with changing working conditions for many people, living and working from home is acceptable, which puts Tasmania on the list for those high-net worth purchasers.<\/p>\n \u201cThe question is often asked of me, what\u2019s the difference between a $2m home and a $4mn home. Obviously, location is the major driver. However, those with water views, swimming pools, tennis courts and great outdoor entertaining areas will attract a premium.\u201d<\/p>\n Wolf Property director Cam Rogers.<\/p>\n Wolf Property director Cam Rogers said the prestige market is a little slower than the rest of the market, but that has always been the case.<\/p>\n Mr Rogers said a $3m or $4m home in Hobart may fetch $10m in Melbourne and $20m in Sydney and \u201cthose properties have longer campaigns\u201d.<\/p>\n \u201cSometimes we will have an offer in week one, sometimes it\u2019s a journey where we are working with buyers for weeks or months,\u201d he said.<\/p>\n No.11 Mona St, Battery Point.<\/p>\n No.11 Mona St, Battery Point.<\/p>\n Mr Rogers said there\u2019s about 10 streets in Hobart where sellers can demand $4m or more \u2013 on the waterfront in Sandy Bay and Battery Point, large landholdings in those suburbs, plus the Huon and East Coast, or homes that are \u201ctruly special\u201d with a high level of construction or historic value.<\/p>\n 12 OF TASSIE\u2019S FINEST<\/p>\n Address, price, agent<\/p>\n 1145 Westwood Rd, Hagley. For sale.<\/a> Cullen & Royle\/Elders Launceston<\/p>\n 25-27 Castray Esp, Battery Point. EOI.<\/a> Elders Hobart<\/p>\n 13 East Barrack St, Deloraine. Offers over $6m.<\/a> Harcourts Meander Valley<\/p>\n 231 Otago Bay Rd, Otago. EOI.<\/a> LJ Hooker Pinnacle Property<\/p>\n 11 Mona St, Battery Point. Contact agent.<\/a> Wolf Property<\/p>\n 1 Victoria Esp, Bellerive. EOI.<\/a> Elders Hobart<\/p>\n 11922 Tasman Hwy, Rocky Hills. EOI over $4.8m.<\/a> Peterswald<\/p>\n 1 Brisbane St, Launceston. $4.6m-plus.<\/a> Harcourts Launceston<\/p>\n 1 Ram Island, Little Swanport. $4.5m-plus.<\/a> Peterswald<\/p>\n 2\/724 Sandy Bay Rd, Sandy Bay. EOI over $4.2m.<\/a> Peterswald<\/p>\n 334 Davey St, South Hobart. $4m-plus.<\/a> EIS Property<\/p>\n<\/p>\n
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