M:
Research
Spring/26 Regional Tasmania Residential
Headlines Regional Tasmania recorded a higher number of residential sales over the past year, whilst homes are taking less time to sell than one year ago.
The number of residential rental homes in Regional Australia is currently undersupplied. Regional Australia rental vacancy was recorded at 1.9% at the end of Q2/26.
More Regional Tasmania homes have been newly listed for sale than this time last year. Overall, the total number of homes listed for sale in Regional Tasmania is down on last year.
Residential rents across Regional Tasmania trended 9.0% above last year's weekly rate, with rents forecast to rise 8% at the end of 2026.
Regional Tasmania prices have trended 0.9% higher than a quarter ago, with 11.7% annual growth. Price growth of 9% is forecast by the end of 2026.
The construction delivery of new homes in Tasmania was 13.1% below the last reported year, whilst residential building approvals trended 15.5% higher.
Economy Key drivers
Interest rate
Spring/26
4.35%
Interest rates were last set at 4.35% after the Reserve Bank of Australia (RBA) lifted the cash rate target by 25 bps in May 2026. At this time, most lenders adjusted their mortgage lending rates for homeowners and investors accordingly. By setting borrowing costs, interest rates strongly influence both housing affordability and demand for home loans. Westpac forecasts the cash rate target to be 4.60% by the end of 2026 and 4.10% in 2027, with inflation, energy costs and the global economy being closely monitored as a leading indicators for any possible adjustments during this time.
Unemployment
+2.6%
Economic growth
Australia recorded annual economic growth of 2.1% at the end of Q2/26, following a five year annual average performance of 2.2%. A growing economy fuels the property market by generating employment, lifting household incomes and strengthening overall demand. In general, sustainable annual economic growth is viewed as trending between 2% and 3%. Looking forward, Westpac forecasts economic growth of 1.5% by the end of 2026 and 1.7% in 2027.
4.0%
Population growth
Regional Tasmania's unemployment rate of 4.0% at the end of Q2/26, was tracking lower than the Australia average at 4.3%. Looking back, the five year average unemployment rate has been 3.9% across Australia. Employment conditions shape the ability for a household to enter the housing market and service mortgages over time, with a healthy labour market typically below 5%. With economic headwinds and technological disruption to a growing number of industries on the horizon, the RBA forecasts unemployment to soften to 4.7% by the end of 2027.
+0.3%
Population growth has ramped up housing demand, placing pressure on existing housing supply and infrastructure. Regional Tasmania's total population growth was 0.3% in 2025. This came after the population grew 0.1% in 2024, after growth of 0.8% in 2022. The Australian Bureau of Statistics (ABS) have projected the long-term population growth for Regional Tasmania at 0.4% per annum.
Economic outlook, Q2/26
2021
2022
2023
2024
2025
2026F
2027F
Interest rate target
0.10%
3.10%
4.35%
4.35%
3.60%
4.60%
4.10%
Economic growth in Australia
4.9%
3.3%
1.3%
1.2%
2.6%
1.5%
1.7%
Unemployment rate in Australia
4.0%
3.3%
3.8%
3.8%
3.9%
4.7%
4.7%
Population growth in Regional Tasmania
0.8%
0.2%
0.1%
0.3%
0.4%
0.4%
0.4%
Source: McGrath Research, RBA, ABS, Westpac
2
Residential sales Update
Sales
Spring/26
+12%
Rolling tally of annual residential sales Regional Tasmania
Regional Tasmania recorded a higher number of residential sales over the past year. Sales trended up 12% with a total of 6,589 transactions in the year ending Q2/26, outpacing the five year annual average of 6,192 sales. A change in sales activity can be influenced by interest rates, economic confidence, housing supply, government policies and shifting population trends which impacts buyer demand. Isolating the 1,391 sales in the Q2/26 quarter, this was 11% below the previous quarter, whilst higher than the 1,357 five year quarterly average.
Source: McGrath Research, Cotality
Share of state annual sales
62%
Regional Tasmania made up 62% of the total number of annual residential sales recorded in Tasmania at the end of Q2/26. This was lower than one year ago when the proportion was 63%, whilst below the 66% share recorded five years ago. A change in residential sales activity over the year to Q2/26 saw Regional Tasmania (+12%) outpaced by Hobart (+14%).
Share of state annual sales, by number Regional Tasmania Source: McGrath Research, Cotality
Regional Tasmania, Q2/26
Houses
Apartments
Residential
Number of homes sold in past quarter
1,246
145
1,391
Change from a quarter ago
-12%
-6%
-11%
Number of homes sold in past year
5,707
882
6,589
Change from a year ago
13%
5%
12%
Source: McGrath Research, Cotality
3
Residential sales, by local area Based on the geography boundary defined by the Local Government Area
Spring/26
Houses
Apartments
Number sold in past quarter
Change from a quarter ago
Number sold in past year
Change from a year ago
Number sold in past quarter
Change from a quarter ago
Number sold in past year
Change from a year ago
Break O'Day
47
9%
197
16%
2
-33%
17
89%
Burnie
93
2%
387
-4%
7
-53%
67
29%
Central Coast (Tas.)
90
-5%
379
11%
14
180%
44
-17%
Central Highlands (Tas.)
21
-13%
101
36%
0
na
2
na
Circular Head
26
-13%
136
0%
0
na
8
-27%
Devonport
82
-27%
445
11%
21
11%
112
42%
Dorset
19
-17%
113
3%
3
50%
10
67%
Flinders (Tas.)
3
0%
9
-25%
0
na
0
na
George Town
43
-22%
166
10%
1
-50%
7
-46%
Glamorgan-Spring Bay
31
-30%
142
54%
1
-83%
9
13%
Huon Valley
88
-25%
380
19%
4
33%
24
9%
Kentish
17
-37%
107
7%
0
na
0
na
King Island
6
20%
22
-8%
0
na
1
na
Latrobe (Tas.)
43
-2%
195
0%
7
0%
41
-23%
Launceston
249
-12%
1,227
24%
45
-15%
292
20%
Meander Valley
75
-3%
313
18%
5
-58%
69
-3%
Northern Midlands
56
8%
224
17%
8
14%
38
9%
Southern Midlands
22
29%
78
10%
1
na
2
-33%
Tasman
23
0%
77
51%
0
na
3
-84%
Waratah-Wynyard
49
-2%
203
-17%
10
150%
34
-19%
West Coast
28
-40%
149
37%
3
200%
14
40%
West Tamar
100
-12%
501
6%
13
8%
88
-16%
Regional Tasmania Q2/26
Source: McGrath Research, Cotality
4
Residential sales Update
Sales velocity
Spring/26
-13 days
Average days on the market Regional Tasmania
Regional Tasmania homes are taking less time to sell than one year ago. Residential homes averaged 37 days on market in Q2/26, from the time they were listed, to the day they went under contract. This average duration was 42 days the quarter before (-6 days) and 49 days one year ago (-13 days). A lower number of days on market typically indicates that homes are selling more quickly, often reflecting strong buyer demand and well‑priced, desirable properties. In contrast, a higher number of days on market may signal slower buyer activity or that homes are priced above current market expectations. Looking back over the past five years, it has taken 38 days on average, to sell a home. Source: McGrath Research
New listings Regional Tasmania
+16.9%
Total listings Regional Tasmania
More Regional Tasmania homes have been newly listed for sale than this time last year. Newly advertised listings in Regional Tasmania were 16.9% higher in the month of June 2026 than the equivalent period last year, according to Cotality. This change in new listings trended above the Australian average of 2.1% and above the 2.3% across Australian capital cities.
-27.1%
Overall, the total number of homes listed for sale in Regional Tasmania is down on last year. Regional Tasmania's total number of listings in the month of June 2026 were 27.1% below the equivalent period last year, according to Cotality. By comparison, the Australian average change for total listings was 8.4% and across Australian capital cities was -1.7%.
Regional Tasmania, Q2/26
Houses
Apartments
Residential
Number of days homes on market
39 days
19 days
37 days
Change from a quarter ago
-6 days
-3 days
-6 days
Change from a year ago
-12 days
-16 days
-13 days Source: McGrath Research
5
Residential sales velocity, by local area Based on the geography boundary defined by the Local Government Area
Spring/26
Houses
Apartments
Number days on market
Change from a quarter ago
Change from a year ago
Number days on market
Change from a quarter ago
Change from a year ago
Break O'Day
84 days
-26 days
-2 days
na
na
na
Burnie
27 days
-1 day
-8 days
27 days
-4 days
days
Central Coast (Tas.)
36 days
+0 days
-8 days
16 days
-4 days
-23 days
Central Highlands (Tas.)
58 days
+23 days
+15 days
na
na
na
Circular Head
70 days
+10 days
+29 days
na
na
na
Devonport
22 days
-5 days
-21 days
26 days
-17 days
-17 days
Dorset
67 days
+18 days
-42 days
na
na
na
Flinders (Tas.)
na
na
na
na
na
na
George Town
17 days
-17 days
-51 days
na
na
na
Glamorgan-Spring Bay
74 days
-31 days
-14 days
na
na
na
Huon Valley
39 days
-3 days
-19 days
19 days
+5 days
-31 days
Kentish
56 days
+5 days
+19 days
na
na
na
King Island
na
na
na
na
na
na
Latrobe (Tas.)
47 days
-2 days
+4 days
18 days
+2 days
-11 days
Launceston
17 days
-5 days
-14 days
17 days
-7 days
-14 days
Meander Valley
26 days
-4 days
-17 days
12 days
-3 days
-23 days
Northern Midlands
33 days
-13 days
-27 days
16 days
-5 days
-16 days
Southern Midlands
26 days
days
days
na
na
na
Tasman
41 days
-24 days
days
na
na
na
Waratah-Wynyard
34 days
-1 day
+5 days
25 days
+5 days
-41 days
West Coast
82 days
-23 days
-48 days
na
na
na
West Tamar
36 days
-8 days
-26 days
16 days
-1 day
-13 days
Regional Tasmania Q2/26
Source: McGrath Research, Cotality
6
Residential prices Update
Average price
Spring/26
$613,800
Tracking average prices Regional Tasmania
Regional Tasmania residential property prices have trended higher than a year ago. Prices across Regional Tasmania rose by 11.7% in the year ending Q2/26, with a 0.9% increase recorded in the most recent quarter. As a result, the average residential value reached $613,800. Residential values shift with changes in interest rates, supply and demand, economic conditions, population trends and local infrastructure which influences market appeal and buyer capacity. Annual residential price growth has averaged 10.6% over the past five years.
Source: McGrath Research
Price outlook
+9%
Forecast for average prices Regional Tasmania
Looking ahead, Regional Tasmania residential prices are likely to rise over the coming year. McGrath Research forecast Regional Tasmania residential property prices to increase by 9% at the end of 2026, followed by a further 4% rise in 2027. Residential price forecasts consider borrowing capacity, the balance of supply and demand, economic conditions, population trends and local infrastructure which shapes affordability, demand and market direction.
Source: McGrath Research
Regional Tasmania, Q2/26
Houses
Apartments
Residential
Average price
$633,000
$463,500
$613,800
Change from a quarter ago
0.8%
1.7%
0.9%
Change from a year ago
12.5%
4.4%
11.7% Source: McGrath Research
7
Residential prices, by local area Based on the geography boundary defined by the Local Government Area
Spring/26
Houses
Apartments
Median price
Change from a quarter ago
Change from a year ago
Median price
Change from a quarter ago
Change from a year ago
Break O'Day
$613,600
1.5%
14.5%
$480,000
4.3%
9.0%
Burnie
$608,600
4.8%
11.1%
$462,400
2.5%
22.4%
Central Coast (Tas.)
$698,100
4.7%
10.5%
$532,800
4.2%
13.1%
Central Highlands (Tas.)
$374,200
-1.2%
3.1%
$307,500
-7.9%
-28.0%
Circular Head
$492,100
1.8%
13.9%
$416,000
-0.1%
20.8%
Devonport
$738,500
0.9%
14.4%
$439,100
1.9%
12.1%
Dorset
$570,700
-1.4%
7.4%
$483,100
-4.9%
15.4%
Flinders (Tas.)
$643,700
25.9%
38.9%
$1,057,000
18.1%
42.3%
George Town
$625,600
3.4%
19.4%
$449,400
-3.4%
7.5%
Glamorgan-Spring Bay
$658,000
-2.6%
-1.7%
$401,300
9.1%
-25.2%
Huon Valley
$719,200
-0.5%
10.8%
$512,400
-5.2%
-12.1%
Kentish
$683,100
-0.2%
17.2%
$427,600
-4.9%
-8.0%
King Island
$460,800
8.3%
36.2%
$381,100
-0.2%
23.7%
Latrobe (Tas.)
$810,300
-1.8%
12.7%
$537,000
-2.4%
0.0%
Launceston
$751,800
-1.2%
12.5%
$487,600
1.9%
9.0%
Meander Valley
$700,200
-2.1%
17.0%
$498,200
8.5%
32.9%
Northern Midlands
$609,200
-1.9%
12.4%
$442,100
-1.1%
-4.9%
Southern Midlands
$582,400
-4.0%
10.2%
$368,600
-4.6%
-10.6%
Tasman
$593,900
-1.5%
7.1%
$452,800
15.3%
3.9%
Waratah-Wynyard
$592,100
4.2%
5.6%
$424,900
-1.4%
7.5%
West Coast
$229,400
13.7%
14.7%
$178,100
2.0%
0.7%
West Tamar
$769,400
0.7%
22.5%
$554,900
12.9%
19.8%
Regional Tasmania Q2/26
Source: McGrath Research, Cotality
8
Residential rents Update
Vacancy
Spring/26
1.9%
Residential rental vacancy Regional Australia
The number of residential rental homes in Regional Australia is currently undersupplied. Regional Australia rental vacancy was recorded at 1.9% at the end of Q2/26, rising 17 bps in the quarter whilst rising 37 bps over the past year. Generally, around 3% vacancy is considered a balanced market between rental supply and demand. Below this equilibrium is considered to be an undersupplied pool of rental homes, which places upward pressure on weekly rents. For the past five years, Regional Australia residential rental vacancy has averaged 1.5%.
Source: McGrath Research
Yield
-5 bps
Gross rental yield Regional Tasmania
Regional Tasmania gross rental yields have trended lower over the past year. Residential yields fell 2 bps in the Q2/26 quarter to be 4.49% across Regional Tasmania, whilst 5 bps lower compared to a year ago. A yield pushing beyond 4% is more desirable for investment properties located in capital cities, while below this, tends to show higher property values relative to rental income. Regional Tasmania gross rental yields have averaged 4.54% over the past five years.
Source: McGrath Research
Regional Tasmania, Q2/26
Houses
Apartments
Residential
Gross rental yield
4.45%
4.82%
4.49%
Change from a quarter ago
-1 bp
-12 bps
-2 bps
Change from a year ago
-5 bps
-2 bps
-5 bps Source: McGrath Research
9
Residential rents Update
Average weekly rent
Spring/26
$485
Tracking average weekly rents Regional Tasmania
Residential rents across Regional Tasmania trended above the weekly rate recorded a year ago. Regional Tasmania rents rose 2.1% in Q2/26, whilst increasing 9.0% over the past year, to stand at an average $485 per week. Rent changes are driven by rental supply, tenant demand, migration trends, economic conditions and investor activity which together impact the vacancy rate. For the past five years, Regional Tasmania rents grew an average 7.1% per annum.
Source: McGrath Research
Rental outlook
+8%
Forecast for average rents Regional Tasmania
The Regional Tasmania residential market is continuing to experience upward pressure on weekly rents. McGrath Research forecast Regional Tasmania rents to rise 8% at the end of 2026, with a further 6% rise likely in 2027. The rental forecast takes into consideration new and existing supply levels, population changes, economic conditions and upgraded local infrastructure which can influence future tenant demand, vacancy rates and rental growth.
Source: McGrath Research
Regional Tasmania, Q2/26
Houses
Apartments
Residential
Average weekly rent
$495
$425
$485
Change from a quarter ago
3.1%
1.2%
2.1%
Change from a year ago
10.0%
4.9%
9.0% Source: McGrath Research
10
Residential rents, by local area Based on the geography boundary defined by the Local Government Area
Spring/26
Houses
Apartments
Median rent
Change from a quarter ago
Change from a year ago
Median rent
Change from a quarter ago
Change from a year ago
Break O'Day
$420
-2.3%
3.7%
$330
na
10.0%
Burnie
$460
2.2%
13.6%
$330
-4.3%
13.8%
Central Coast (Tas.)
$495
5.3%
11.2%
$405
-1.2%
11.0%
Central Highlands (Tas.)
na
na
na
na
na
na
Circular Head
$400
0.0%
5.3%
na
na
na
Devonport
$530
6.0%
16.5%
$395
2.6%
6.8%
Dorset
$485
11.5%
12.8%
na
na
na
Flinders (Tas.)
na
na
na
na
na
na
George Town
$430
2.4%
10.3%
$300
3.4%
3.4%
Glamorgan-Spring Bay
$460
2.2%
7.0%
na
na
na
Huon Valley
$495
2.1%
6.5%
$420
-4.5%
-6.7%
Kentish
na
na
na
na
na
na
King Island
na
na
na
na
na
na
Latrobe (Tas.)
$555
4.7%
4.7%
$455
-1.1%
3.4%
Launceston
$535
3.9%
11.5%
$450
2.3%
4.7%
Meander Valley
$525
1.0%
7.1%
$425
1.2%
7.6%
Northern Midlands
$515
5.1%
2.0%
$475
-1.0%
3.3%
Southern Midlands
na
na
na
na
na
na
Tasman
na
na
na
na
na
na
Waratah-Wynyard
$455
2.2%
9.6%
$355
1.4%
7.6%
West Coast
$305
1.7%
1.7%
na
na
na
West Tamar
$560
7.7%
8.7%
$480
2.1%
6.7%
Regional Tasmania Q2/26
Source: McGrath Research, Cotality
11
Definitions
Regional Tasmania Regional Tasmania refers to the area outside of ‘Greater Hobart’ or ‘Rest of State’ for Tasmania as defined by the Australian Bureau of Statistics.
Local Government Area A Local Government Area (LGA) is a defined geographic region administered by a local council responsible for community services, planning, and local regulations.
Interest rate target The cash rate target is the interest rate set by the Reserve Bank of Australia to influence borrowing costs, economic activity, and inflation across the economy.
Population growth Population growth increases the number of people needing homes, boosting housing demand and influencing supply, prices, and future development needs.
Economic growth Economic growth is the rise in a country’s production of goods and services over time, reflecting how much the economy is expanding.
Sales Sales of residential homes refers to the number of houses or apartments sold within a specific area and time period, most commonly being reported within the quarter or year.
Unemployment The unemployment rate measures the share of people in the labour force who are willing and able to work but currently without employment.
Listing New listings are recently advertised homes, while total listings represent all properties currently for sale in the housing market at a given time.
Sales velocity The length of time a property spends on the market from listing to exchange, with the duration measurement represented as being number of days.
Vacancy Total residential vacancy refers to the proportion of rental properties unoccupied and available for tenants at a specific point in time.
Average price Average price is the calculation of prices or values divided by the number of properties. It represents the overall price level across a market and is useful for tracking trends over time.
Average weekly rent Average weekly rent is the calculation of rentals divided by the number of properties. It represents the overall rent level across a market and is useful for tracking trends over time.
Yield Gross rental yield is the annual rental income of a property divided by its market value, showing the return before expenses.
Guiding you home
Michelle Ciesielski National Head of Research, McGrath Research www.mcgrath.com.au/research
Find an agent © McGrath Limited 2026 Disclaimer: This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by McGrath Limited for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of McGrath Limited in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of McGrath Limited. McGrath trademarks are property of McGrath Limited.