Hobart Property Market

Hobart property prices have held up well in last 5 years, It is now more expensive to purchase a house in Hobart than it is in Darwin. If prices continue to rise at this rapid rate they are likely to overtake Perth and Adelaide in the coming months. Hobart has seen extraordinary growth, with prices rising annually for six-and-a-half years.

Two years ago Hobart was the most affordable unit market of the Australian capital cities but it is now more expensive than Adelaide, Brisbane, Darwin and Perth. Hobart unit prices have closed the value gap with Canberra to an all-time low – if the pace of growth continues, Hobart units are set to overtake the nation’s capital in the coming months.

Sales are also gaining momentum after an extended downturn, according to the REIT. In the three months to June, turnover across Tasmania increased by 5.7 per cent. In the same period, sales in Hobart climbed 23 per cent and the outer suburbs recorded a jump of 53.8 per cent.

Property Investment Australia , Hobart View

Hobart Property Market Overview 2024

While Domain Group figures show Hobart has been the strongest capital city market for houses in the past five years, with prices growing 66.3 per cent,

The big problem is supply, and a lot of people won’t sell because they know they’ll have trouble buying, too. In the last Domain rental report, Hobart was found to also have the country’s fastest rising rents, at 4.4 per cent over the year, and its tightest vacancy rate – a minuscule 0.6 per cent.

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