Hobart sizzles on national property hot list<\/a><\/p>\n![\"\"\/](\"data:image\/svg+xml,%3Csvg)
<\/p>\n
Propertyology head of research Simon Pressley. Picture: Supplied<\/p>\n
West Coast local Rodney Triffett has previously spoken with the Mercury about the extraordinary trajectory of real estate in his area.<\/p>\n
Mr Triffett cited growing tourism and the arts community \u2014 everything from mountain bike trails to The Uncomformity festival \u2014 as drivers.<\/p>\n
\u201cThere are a lot of positives that bring people to the area, including new mines that create jobs. The future looks bright; it\u2019s great to see,\u201d he said.<\/p>\n
According to Mr Triffett, people relocating to Tasmania\u2019s West Coast are typically seeking an escape from the heat and hustle of city life, drawn instead to a region well suited to those with a passion for the outdoors.<\/p>\n
\u201cAround the time the biking trails were announced and then construction started, that is when property prices here noticeably increased,\u201d he said.<\/p>\n
<\/p>\n
No.4 Dixon St, Queenstown is priced at $398,000. Picture: realestate.com.au<\/p>\n
<\/p>\n
No.26 Batchelor St, Queenstown is on the market for $390,000. Picture: realestate.com.au<\/p>\n
Real Estate Institute of Tasmania figures tell a complimentary tale compared with Propertyology\u2019s research.<\/p>\n
In 2016, across many West Coast hubs, houses were remarkably cheap.<\/p>\n
The median house price, per REIT statistics, was $65,000 in Queenstown, $71,250 in Rosebery, $207,000 in Strahan, and $70,000 in Zeehan.<\/p>\n
So far this year, Queenstown is up to $220,000, Rosebery $197,500, Strahan $342,500, and Zeehan $234,000.<\/p>\n
REA Group figures show Hobart\u2019s median home price is $727,000, $619,000 in the South East, and $613,000 in Launceston and the North East, while the West and North West sit lower at $556,000.<\/p>\n
<\/p>\n
Harcourts West Coast business owner Rodney Triffett.<\/p>\n
Mr Pressley said his research showed that from year to year, there is a direct link between the quality of each state\u2019s economy and localised employment strength within each city and town.<\/p>\n
\u201cLocal economic conditions have a big influence on the household confidence of a critical mass of each jurisdiction,\u201d he said.<\/p>\n
\u201cFor much of the last decade, household confidence \u2014 and thereby buyer activity \u2014 was stronger throughout Tasmania, South Australia, Queensland and regional NSW than it was in Sydney, Melbourne, Alice Springs, Canberra, Darwin and Mount Isa.<\/p>\n
\u201cIn each town and city across Australia, detached houses typically produced significantly higher capital growth rates than apartments.<\/p>\n
\u201cRegardless of how affordable they might be, very few owner occupiers will use their hard-earned money to buy a real estate asset which does not have sufficient living space, storage and connection to natural lifestyle elements such as yards and neighbourhood green space.<\/p>\n
\u201cThroughout Australia, jurisdictions with the highest density of population have embarrassingly low homeownership rates and well below-par capital growth rates.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Research by property expert Simon Pressley shows Tasmania\u2019s West Coast is where you should have invested 10 years…\n","protected":false},"author":2,"featured_media":863675,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[64,63,44],"class_list":["post-863674","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australia","tag-au","tag-australia","tag-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/863674","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=863674"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/863674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/863675"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=863674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=863674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=863674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}