Tassie real estate lags nation

October 2, 2023 9:31 am in by
Image: Rapeepong Puttakumwong from Getty Images.

Hobart dwelling prices declined nearly four per cent in the year to September to a median of $677,000 – that’s 6.6 per cent off their peak, as the interest rate hangover continues in some markets.

That’s in contrast to Aussie capitals overall, which are back at all-time highs.

Tasmania’s capital had minimal monthly growth for September of 0.09 per cent.

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A Proptrack snapshot has found Regional Tassie values including Launceston, Burnie and Devonport were down 1.41 per cent for the year to September, easing 0.04 per cent for the month.

Proptrack Senior Economist Eleanor Creagh says it’s a different story interstate.

“National home prices increased again in September with the spring selling season now in full bloom,” she said.

“Prices nationally have now fully reversed the most rapid decline in home prices in recent history that we saw in 2022.”