Home prices have been increasing steadily in regional Tasmania which is now one of the most coveted realty markets in Australia. Home prices have gone up more than any other region in the country over the last year or so as per studies. The north-east zone and Launceston witnessed 11.4% of growth in median home prices while median home prices increased by 11.6% in the southern region. They also increased by 11.1% in the north and west. Hobart has been seeing rapid real estate growth over the last 3-4 years and this is spilling over positively to other parts of the State as per reports.
There are many who are drawn to overall affordability of homes in Tasmania while some buyers seek major changes in lifestyles, particularly families from Melbourne who have witnessed property values increase here over the last few years. Tasmania is turning into one of Australia’s most liveable destinations and with a flourishing economy, several buyers are coming here from other parts of Australia. There is skyrocketing demand for homes which are priced below $200, 000. Interstate buyers are now considering Tasmania for their next home purchase with more flights and services being introduced in the State.
Hobart continues to do very well in terms of its real estate market. Median property prices have touched $445, 655 as per studies. This puts the capital of Tasmania only behind Perth where median home prices have touched $451, 000. Brisbane is ahead at $492, 000 while Melbourne ($665, 000) and Sydney (close to $834, 000) have seen saturation due to sky-high property prices. However, the recent flurry of demand for homes in Hobart may push up prices here and it may overtake Perth very soon. The housing market in Perth is seeing a slight decline while there is fast growth in Hobart and price changes may be observed within the next few months or so.
