Tas home prices up, rents down
Tasmania's home buying market appears to have well and truly shaken off the pandemic.
Hobart's home values rose in May, up 0.8% in the newly released CoreLogic report.
That is easily the strongest result of all the capitals and is the opposite of Melbourne which dipped 0.9%.
The story is nearly the same for regional Tasmania, where values increased 0.6% for the month.
Rents are where the brakes have been applied in this state, in the past two months Hobart down 1.4%, the biggest dip of the capitals, and regional Tasmania's rents dropping 0.7%.
The CoreLogic report explains why rents have eased.
"The reduction in rents comes after a period of rapid rental appreciation across Hobart. Anecdotally, a large number of short term rental properties have recently transitioned to permanent rentals, which has contributed to higher supply at a time when demand has slackened."