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The Real Estate Institute of Tasmania (REIT) has released the Property Report for June 2013. This shows an overall increase in median property prices in Tasmania of 2.5% for the quarter and 3.2% increase for the last 12 months.

The following report appeared in The Mercury. Note that the quotes from the REIT about increases in house sales do not refer to price increase but to the number of properties sold, which has seen a strong increase over the last twelve months. For Tasmania overall the increase in number of properties sold over the last year is 19.2%.

This story from The Mercury.

Property sales jump

Hobart property sales have soared to a three-year high, new figures show.

The Real Estate Institute of Tasmania’s June quarter property report shows a dramatic increase in house sales across Tasmania.

REIT President Adrian Kelly said after a levelling of house sales in the first quarter of the year, Tasmania had lifted 10.5 per cent for the quarter, up 19.2 per cent for the year.

“Hobart house sales were up 18 per cent for the quarter, which is the highest we have seen in three years,” Mr Kelly said.

“Launceston house sales have also seen a sharp increase, recording a 34.4 per cent boost for the quarter and an 11.8 per cent lift for the year.

“In contrast, the North West centres saw a slight decrease in house sales, down 1.7 per cent for the quarter but still up 7.5 per cent for the year.

“The median house price for Tasmania also saw an increase for the quarter, up 2.5 per cent

[to $299,250], which means a 3.2 per cent increase over the year.”

The report shows nine municipalities across Tasmania recording a median house price higher than the state median: Brighton, Central Coast, Clarence, Flinders, Hobart, Kingborough, Latrobe, Sorell and Tasman.

Mr Kelly said the report was a positive sign for Tasmania’s real estate market, especially heading into the winter season, which historically has fewer properties on the market.

“While sellers feel it is a good strategy to wait until spring before listing their property, I suggest they discuss this approach with their agent, as selling in winter when there are fewer properties available for purchase can sometimes work in their favour,” he said.

The suburbs with the highest turnover of house sales were Kingston, Sandy Bay, Devonport, Lenah Valley and Howrah.

The most expensive suburbs were Battery Point, Tolmans Hill, Sandy Bay, Richmond and Taroona.

 

Median House Prices – June Quarter 2013

Most Expensive Suburbs

  1. Battery Point – $975,000
  2. Tolmans Hill – $645,000
  3. Sandy Bay – $585,000
  4. Richmond – $550,000
  5. Taroona – $549,000
  6. Mount Nelson – $428,750
  7. Mount Stuart – $417,500
  8. North Hobart – $415,000
  9. Park Grove – $412,500
  10. Lauderdale – $412.500

 

Most Affordable Suburbs/Towns

  1. Queenstown – $74,000
  2. Waverley – $135,000
  3. Ravenswood – $140,000
  4. Risdon Vale – $148,500
  5. Scottsdale – $157,000
  6. Campbell Town – $164,500
  7. East Devonport – $180,950
  8. New Norfolk – $183,000
  9. Rokeby – $185,000
  10. Chigwell – $187,500

 

Highest Turnover

  1. Kingston
  2. Sandy Bay
  3. Devonport
  4. Lenah Valley
  5. Howrah
  6. Claremont
  7. Trevallyn
  8. Glenorchy
  9. Moonah
  10. Riverside

 

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