Tasmanian house sales down for March quarter, units up: REIT

Property ObserverMay 18, 20160 min read

Tasmanian house sales cooled off during the March 2016 quarter however the unit market has taken up the slack according to the REIT.

Unit sales during the quarter are up 17.3 percent with the North West increasing 40 percent month on month and Hobart up 31.9 percent month on month.

Hobart’s median house price fell $5,000 to $385,000. Launceston was down $4,000 to $286,000 and the North West Coast down $25,000 to $235,000. 

The state median price for homes is $315,000.

REIT President Tony Collidge said a monthly breakdown of sales shows momentum had returned to the market at the end of March after a sluggish January/February. 

"If we exclude the December 2015 results, our March quarter 2016 was the highest performing quarter over the past two and a half years," he said.

"Whilst 41 suburbs or towns currently experience their highest median price ever, more than 163 areas are still at prices below 2008 levels.

"We have an affordable market with a capacity for growth. I remain confident that the future of real estate in Tasmania is optimistic and positive.”

Property Observer

Residential Market
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