Glenorchy Market Update 2 nd H a l f 2 0 2 6
OVERVIEW In Q2 2026, Glenorchy* recorded a median house price of $695,000, and a median unit price of $535,000. This is an annual (Q2 2025 – Q2 2026) price growth of 16.6% for houses and by 8.1% for units. Between Q2 2025 – Q2 2026 sales increased by 2.7% for houses (to 190 for houses sold in Q2 2026) but decreased by -13.5% for units (to 64 units sold in Q2 2026). The Glenorchy market is currently in high demand and undersupplied, which created a buffer against multiple cash rate hikes in 2026, particularly for the unit market. Thus, there is an opportunity for owners to capitalise on their investments. The incoming supply of residential developments set to commence between 2026-2027 will aid in answering the demand.
CHANGE FROM LAST
YEAR
FUTURE DEVELOPMENTS** Glenorchy will see approximately $1.8B of new projects due to commence construction between 2026-2027. Residential $37.9M Commercial
HALF YEAR Mixed Use
HOUSE SALE S
$516.7M
Infrastructure
HOUSE ME DIAN PRICE
$6.1M
HOUSE RE NTAL PRICE
UNIT SALE S
The significant influx of mixed use and commercial projects, such as Wilkinson Point Tourism Precinct and the Nyrstar Electrolysis Plant will stimulate the local economy by creating more jobs.
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
There are quite a few housing projects set to commence construction in 2026:
$ MARKET CONDITIONS MEDIAN PRICE Q2 2026
$695K
MEDIAN PRICE Q2 2026
$600
SALES
$535K
AVERAGE DAYS ON MARKET Q2 2026
35
45
HOUSE
U N I T
RENTALS
$500
$355.9M
•
Amaroo Road Units (34 Units)
•
60 Barossa Road (24 Dwellings)
•
15 Karambi Street Stages 1-4 (61 Residential Lots)
The incoming supply of residential stock will aid in answering the current demand. That said, compared to Q2 2026 sales (of 190 houses and 64 units) this is still not enough. This suggests that the current undersupply will still continue, pushing up prices further.
AVERAGE DAYS ON MARKET Q2 2026
18
16
HOUSE
U N I T
69 Units/ Apartments
58 Dwellings
61 Lots
%
AVERAGE VENDOR DISCOUNT*
Average vendor discount reflects the average percentage difference between the first list price and final sold price. A lower percentage difference (closer to 0.0%) suggests that buyers are willing to purchase close to the first asking price of a property.
The suburb of Glenorchy has historically tracked on par with the wider Glenorchy Local Government Area (LGA) for median house and unit prices for the past 5 years. This trend has continued through the start of 2026#, with prices in the suburb and LGA tracking in the same direction and pace.
5.0%
5.5%
5.5% 3.1%
1.6%
1.6%
1.0%
0.3%
0.0%
2.0%
2.8%
4.3%
3.0%
3.6%
4.0%
-1.0%
-2.0%
-0.9%
0.0%
-1.0%
Change from Listing to Sale Price
6.0%
-3.0% Q1 2025
Q2 2025
Q3 2025
Q4 2025
House
Q1 2026
Q2 2026
Unit
Glenorchy House
In the past 12 months to Q2 2026 average vendor discount for houses have swung significantly, to a premium of 5.5%. Units have increased to a greater premium of 3.1% in Q2 2026. Market conditions in Glenorchy* now favours all sellers, where buyers must offer above the initial listing prices. With high demand expected to continue buyers should act fast.
Most of the houses sold in Glenorchy* in 2026# were in the premium bracket of $750,000 and above (27.3%), however 23.6% were sold in the middle price bracket of $650,000 to $699,999. In contrast, most of the units sold were in the most affordable bracket, of less than $449,999 (27.2%), although the premium bracket of $600,000 and above recorded 25.5% of units sold. There are ample sales in all the other price brackets for both houses and units. Overall, this suggests that Glenorchy* has a home for all budgets, making it an ideal market for investors and first home buyers alike.
MARKET COMPARISON Glenorchy LGA House
Glenorchy Unit
Glenorchy LGA Unit
$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 2022
2023
2024
2025
2026#
The market comparison graph provides a comparative trend for the median price of houses and unit in the past 5 years. The main LGA profiled was chosen based on their proximity to the main suburb analysed, which is Glenorchy.
$
PRICE BREAKDOWN 2026# UNITS SOLD
HOUSES SOLD
27.3%
16.5%
15.7%
Less than $599,999
23.6%
27.5%
Less than $449,999
$600,000 to $649,999
$450,000 to $499,999
$650,000 to $699,999
$500,000 to $549,999
$700,000 to $749,999
16.9%
25.5%
$750,000 and above
9.8%
14.7% 22.5%
$550,000 to $599,999 $600,000 and above
RENTAL GROWTH 2026 €
House rental yields in Glenorchy¥ was 4.5% in June 2026, on par with Glenorchy LGA (4.6%) but higher than Hobart Metro (3.5%). This was paired with a 11.1% increase in median house rental price in the past 12 months to Q2 2026, at $600 per week. The number of houses rented also increased, by 32.3%, to 303 rentals in Q2 2026. The rental market in Glenorchy¥ is in high demand, which is beneficial for investors looking for a more affordable option to Hobart.
2 BEDROOMS
+6.3%
3 BEDROOMS
3-bedroom houses have provided investors with +9.6% rental growth annually, achieving a median rent of $592 per week.
+9.6%
Glenorchy¥ recorded a vacancy rate of 0.3% in June 2026, which is lower than Glenorchy LGA 0.4% and Hobart Metro 0.7% average. Vacancy rates in Glenorchy¥ have remained stable in the past 12 months, indicating a tight rental market. Further, a 0.3% vacancy rate is significantly below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, indicating there is quicker occupancy of rental homes in Glenorchy¥. This is beneficial for investors, even if the median house sales price (thus, entry price) have increased in the past 12 months to Q2 2026.
4+ BEDROOMS
+7.8%
RENTAL VACANCY RATES 2026
3.5%
3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0%
Jun-26
Mar-26
Dec-25
Hobart Metro
Sep-25
Jun-25
Glenorchy LGA
Mar-25
Dec-24
Sep-24
Jun-24
Mar-24
Dec-23
Sep-23
Jun-23
Glenorchy (7010)
REIA 'Healthy' Benchmark
%
RENTAL YIELD 2026 §
4.5%
4.6%
Glenorchy (7010)¥
Glenorchy LGA
3.5% Hobart Metro
6.1%
Glenorchy (7010)¥
5.6%
5.6%
Glenorchy LGA
Hobart Metro
PROJECT DEVELOPMENT MAP 2026₳ LEGEND Commercial Infrastructure Industrial Mixed-Use Residential
GLENORCHY
#
Pr oject £
Type
Estimat ed Commence Value µ Date ψ
1
Wilkinson Point Tourism Precinct (Retail/Resort/Hotel Complex/Student Accommodation/Sports Centre)
Mixed Use
$500,000,000
22/02/2027
2
Nyrstar Electrolysis Plant
Commercial
$350,000,000
20/07/2027
3
33-41 Albert & Main Roads Mixed Use Development (2 Offices/Café)
Mixed Use
$12,230,000
30/03/2027
4
Amaroo Road Units (34 Units)
Residential
$10,200,000
17/05/2027
5
60 Barossa Road Dwellings (24 Dwellings)
Residential
$5,000,000
23/06/2027
6
Community Housing Moonah West Duplexes (15 Dwellings)
Residential
$5,000,000
25/11/2026
7
2 Regina Street & Mill Lane Mixed Use Development (Local Government)
Infrastructure
$4,500,000
7/06/2027
8
25 Thornleigh Street Dwellings (15 Dwellings)
Residential
$4,000,000
21/05/2027
9
37 Howard Road Warehouse (Warehouse/Office)
Mixed Use
$4,000,000
16/04/2027
10
Ochre Medical Centre Claremont Conversion
Commercial
$3,000,000
26/03/2027
11
15 Karambi Street Residential Subdivision Stages 1-4 (61 Residential Lots)
Residential
$2,750,000
17/05/2027
12
229 Tolosa Street Units (5 Units)
Residential
$2,000,000
17/06/2027
13
12 Philip Avenue Independent Living Units
Commercial
$1,500,000
18/02/2027
14
Allunga Road Units (6 Units)
Residential
$1,500,000
30/10/2026
15
73 Mahoney Drive Units (6 Units)
Residential
$1,500,000
21/08/2026
16
36 & 38 Bowden Street Units (4 Units)
Residential
$1,200,000
12/01/2027
17
40 Central Avenue Dwellings (4 Dwellings)
Residential
$1,200,000
18/12/2026
18
9 Hillcot Place Units (4 Units)
Residential
$1,000,000
29/01/2026
19
38 Maroubra Circle Units (4 Units)
Residential
$1,000,000
16/01/2026
20
Glenorchy City Council Lighting Poles Replacement (Local Government)
Infrastructure
$800,000
16/02/2026
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REFERENCES * Glenorchy sales market data and key indicators encapsulates aggregate property market conditions within the suburbs Glenorchy Local Government Area (LGA). ** Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value. # 2026 encapsulates sales transactions for 2026 only (01/01/2026 – 30/06/2026). € Annual rental growth is a comparison between Q2 2025 (01/04/2025 – 30/06/2025) and Q2 2026 (01/04/2026 – 30/06/2026) house median rent figures. ¥ Glenorchy rental market data encapsulates aggregate property conditions within the postcode of 7010. § Rental yields and vacancy rates shown are as reported as of July 2026. ₳ Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes. £ Projects refers to the top developments within the suburb of Glenorchy Local Government Area (LGA). µ Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project’s sale/commercial value. ψ Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRD does not hold any liability to the exact date. Source: APM Pricefinder, Cordell Connect database, SQM Research, Esri ArcGIS. Disclaimer: PRD does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRD will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material. Prepared by PRD Research. © All medians and volumes are calculated by PRD Research. Use with written permission only. All other responsibilities disclaimed. © Copyright PRD 2026.