Chris Hills and Caitlyn Maundrill
01/01/2021
Volume 1, Issue 2
There appears to be no sign of the Tasmanian real estate market slowing down, with the state recording its strongest growth since 2002. Data from the Real Estate Institute of Tasmania's quarterly report shows sales are up 14.4 per cent on last year, with a massive 32 per cent jump in value. There were 144 sales over $1 million, a whopping 162 per cent increase on last year. The market continues to be extremely buoyant with huge numbers coming through open homes and loads of email enquiries. Interstate investors are very keen to purchase our Tassie properties, and there are plenty of local buyers trying to secure a home, both being factors of why our prices are sky rocketing. We have seen a number of developers/investors trying to secure properties where you can potentially build a unit behind a house. We recently had a property in Glenorchy that received 34 offers and an astonishing price achieved. It doesn’t look like we will see the market slowing any time soon, and experienced investors are trying to add to their portfolio which should give ‘mum and dad’ investors confidence going forward. The market facts below are very interesting: Sales in Tasmania are up 14.4 per cent on last year Median house prices increased across all regions but in the north-west jumped 28.5 per cent Devonport recorded more transactions than any other city, town or suburb in the state