Real estate markets are doing comparatively well in Adelaide, Canberra and Hobart as per reports. Prices of property continue rising in these markets as per the latest reports and there are several national and local aspects impacting the markets here. Prices of property in Hobart have gone up by around 10% over the last year or so. In the last 3 years till July 2018, prices of homes have increased by a whopping 32%. Experts forecast further growth in property prices in Hobart over the next few years.
Prices are also being spurred towards further growth in Hobart and some other markets by people from other cities like Melbourne and Sydney who are heading down south for better prospects. Tasmania is steadily becoming a steady realty market for several homebuyers and Hobart is starting to become a coveted area with several cafes, distilleries and other recreational hotspots.
Prices have also gone up by almost 5% in Canberra over the last year or so and overall since the year 2008, they have increased by approximately 35% as per reports. Adelaide has also seen increases in prices to the tune of more than 20%. In other markets like Darwin and Perth, prices are coming down steadily by close to 3% over the last year or so and these have transformed into buyer’s markets as a result. Reports have stated that property cycles have taken an upward turn over the last few months or so in these markets. Prices are rising backed by steady demand and there is considerable growth in infrastructure and connectivity which has also fuelled this price increase.
