HOBART’S depressed property market is finally moving again and house prices should keep climbing next year as demand from lifestyle buyers continues to rise.
Research from real estate analyst CoreLogic RP Data shows that although prices in Hobart are still lower than in 2009, values have risen 6 per cent this calendar year.
The city has the lowest house prices of any capital and Mitch Koper, of CoreLogic RP Data, says affordability will keep the lifestyle buyers coming.
Real Estate Institute of Tasmania president Tony Collidge said the statistics related to Hobart as a municipal area not as a broader city. He said the market was very active in some areas but others were stagnant.
“The inner city market – from Lenah Valley to Taroona – is very active and doing very well,” he said.
“Things are buoyant in some of the Eastern Shore suburbs and in Kingborough but the northern suburbs, and other places where people have less access to money, are slower.”
Clarendon Vale is the cheapest suburb in Australia within 10km of a capital city CBD, with median prices just under $160,000.
But the suburb also has the highest gross return yields of any suburb within that distance of a capital city CBD.
Zeehan has the lowest median weekly advertised rents in the nation.
Tasmania’s most expensive suburb continues to be Battery Point with a median price of $818,000.
Prices at Clifton Beach, Opossum Bay and Collinsvale all rose more than 13 per cent this year.
Hobart suburbs with highest median house prices.
- Battery Point, $818,000
- Sandy Bay, $659,367
- Tolman’s Hill, $621,693
- Otago, $587,050
- Acton Park, $578,374
- Tinderbox, $569,452
- Bonnett Hill, $543,950
- Roches Beach, $538,949
- Dynnyrne, $533,692
- Tranmere, $523,071
Biggest 12-month change in median values
- Clifton Beach up 18.2%
- Opossum Bay, 15.4%
- Collinsvale, 13.7%
- Taroona, 11.3%
- Dynnyrne, 11.3%
- Lutana, 9.2%
- Snug, 8.9%
- Lenah Valley, 8.7%
- South Hobart, 8.1%
- Chigwell, 7.5%
Source: The Mercury Newspaper
Dale and Jo.