Steady Hobart prices mask a frenzied mid-tier market

Housing stock is tight in Hobart, says McGrath Hobart and Launceston property representative Paul Reed. Picture: Supplied Hobart home prices have held steady with slight dips and gains this year. July data from PropTrack shows a 0.5 per cent monthly reduction in the capital’s median home price, following a 0.2 per cent fall in June. At a median of $727,000, Hobart’s average home price today is nearly identical to what it was in April — $728,000. In March, April and May, Hobart’s median reached unprecedented levels. Meanwhile, across the rest of the state, home prices remained at a peak with no change compared to June. Regional Tasmania’s median dwelling price, $592,000, is 12.7 per cent higher now than at the same time last year, while Hobart is 7.8 per cent higher. Compared to five years ago, Hobart is up by 13.7 per cent, while the rest of the state is 41.8 per cent higher. MORE: ‘Rolls Royce’: Sandy Bay home hits market for first time Where the quiet is the point: Our most-watched listing Lock in a piece of Tasmanian history PropTrack senior economist Anne Flaherty. REA Group senior economist Anne Flaherty said Tasmania’s regional homes were still seeing peak growth rates thanks...