Confidence returns to Tasmania’s property market
Hobart’s property market, along with those of Launceston and Devonport, should finally experience some real recovery in 2026, following three difficult years.
This recovery first began in 2025 and although moderate, will grow stronger this year, as confidence returns to the Apple Isle’s overall economy.
We take a good look at the positive details shaping Tasmania’s property market in our McGrath Report 2026. For example, also helping the state’s three largest metropolitan property markets is a notable tourism rebound and good public sector investment.
At the same time, Hobart still has some way to go to recover from its March 2022 peak, when median dwelling values reached $731,849 according to then CoreLogic’s Hedonic Home Value Index. This was largely due to a surge in interstate migration, especially from Melbourne.
Yet three years on, and Hobart’s property market is moving forward. Cotality’s first Home Value Index report for 2026 notes the capital city’s median house value is now $768,375 with apartments selling for a median of $566,069. This follows annual uplifts of 6.8% and 6.7% respectively. This is a far cry from Cotality’s December 2024 HVI report when the city’s median values dropped 0.5% to $651,043.
The city’s many new investors pocket gross rental yields of 4.3% for their new dwellings, after house rental prices rose 6.7% across the past year – the second highest capital city increase in the country after Darwin. Apartment rents’ 9.3% upward shift topped even Darwin to become the top figure in Australia.
It’s true that Tasmania’s property values are still resulting in affordability challenges. But in good news for Hobart’s property market, dwelling values are low by national standards, so there’s a window of opportunity
for buyers. The 1.7% increase in first home buyer loan commitments in the September 2025 quarter was the highest in the country, based on the Real Estate Institute of Australia’s Housing Affordability Report for this period.
Taking a closer look at what’s driving this upward shift, Tasmania continues to punch above its weight on key economic indicators such as employment. CommSec’s October 2025 State of the States report shows the Apple Isle has the strongest employment sector in the country when compared to the average decade level, with a jobless rate of 4% in September 2025. Tasmania also has the second highest job growth rate, after South Australia.
Record-breaking visitor numbers boosted the state’s economy in 2025, with Tourism Tasmania noting that in the year to September, visitor numbers to the Apple Isle were up 4.1% to 1.36 million – the first time they had surpassed pre-COVID levels.
Importantly, there’s the state’s investment in major infrastructure. Tasmania’s biggest transport infrastructure project, the $786 million Bridgewater Bridge in Hobart, opened in June 2025. Hobart Airport’s $200 million terminal expansion project is underway, with completion expected next year.
Hobart’s new Macquarie Point Stadium was also given the green light last month, with the 23,000-seat, multi-purpose setting to be the home of the state’s new AFL and cricket teams. It will also host major sporting and entertainment events. Work on the $1.13 billion stadium will begin this year with plans for it to open in 2029.
Infrastructure activity is also strong in Launceston and Devonport. In Launceston, the historic Albert Hall received a $20 million redevelopment in 2025. A $130 million redevelopment of the University of Tasmania (UTAS) Stadium began in September and, the relocation of the UTAS Newnham campus to Inveresk in 2023 and 2024 was the largest infrastructure project in Launceston’s history.
In Devonport, the city’s port is undergoing a major redevelopment, mainly to accommodate two new, larger Spirit of Tasmania vessels, in time for the 2026-27 summer season.
Launceston and Devonport are proving more accessible than Hobart for their lower property prices. Cotality’s Regional Market Update report in November 2025, which honed in on the country’s 50 largest noncapital areas, showed Launceston’s median dwelling value is now $581,091, after a 4.5% annual uplift. In Devonport, property values are standing at $505,670, following a 6.2% yearly change.
John McGrath CEO & FOUNDER
Amanda Lavis
“We recently leased our house through McGrath and the process was seamless! I was overwhelmed by the task of getting the house ready to be rented but Bec & Amanda were friendly, professional and efficient and nothing was an issue. Tenants moved in within 4 weeks of my first contact with McGrath and they kept me up to date during the whole process. Thanks ladies!”
Meet Amanda Lavis, the dedicated Senior Portfolio Manager at McGrath Orange, bringing over 15 years of real estate expertise and a genuine passion for serving her community. Known for her efficiency, professionalism, kindness, and unwavering loyalty, Amanda is a trusted partner in achieving your property goals. Amanda’s deep ties to the Orange community, including her involvement in women’s cricket and her commitment to her children and her family, reflect her genuine connection to the area. Her love for the community shines through in her personalized approach to real estate, ensuring that each client receives the highest level of care and attention. Whether you’re looking to invest or lease a property in Orange’s real estate market, Amanda Lavis is the experienced professional you can rely on. Benefit from her expertise, integrity, and personal touch as she guides you through a seamless and rewarding real estate experience. Trust Amanda to be by your side every step of the way.
Orange | Molong | Bathurst
Price Guide On Request
Agent Jack Aumuller 0481 985 825
Rachel Smith 0499 820 763
Price
Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
Price Guide On Request
Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
Price Guide On Request View By Appointment
Agent Jack Aumuller 0481 985 825
Josh Fitzgerald 0414304898
Price
Lauren Jones 0439 620 500
Price Guide On Request
Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
Agent Josh Fitzgerald 0414304898
Team Fitzgerald
Agent Josh Fitzgerald 0414304898
Team Fitzgerald
12.00pm
Agent Jack Aumuller 0481 985 825
Rachel Smith 0499 820 763
Orange | Molong | Bathurst
SALE
Price Guide $2,100,000-$2,300,000
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
93
SALE
Price Guide $1,950,000 - $2,000,000
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Agent Jack Aumuller 0481 985 825
SALE
Price Guide $2,200,000
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Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
SALE
Price Guide $1,650,000
View Saturday 1.00pm - 1.30pm
Agent Josh Fitzgerald 0414304898
SALE
Price Guide $2,000,000-$2,200,000
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Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
Team Fitzgerald 74 March Street, Orange
SALE
Price Guide $1,700,000
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald 6 Clontarf
SALE
Price Guide On Request
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
SALE
Price Guide On Request
View By Appointment
Agent Josh Fitzgerald 0414304898
Team Fitzgerald
SALE
Price Guide On Request View By Appointment
Agent Josh Fitzgerald 0414304898
Team Fitzgerald
Orange | Molong | Bathurst
SALE
Price Guide On Request View By Appointment
Agent Josh Fitzgerald 0414304898
Team Fitzgerald
SALE
Price Guide
$1,400,000-$1,450,000
View Saturday 10.00am - 10.30am
Agent Jack Aumuller 0481 985 825
Rachel Smith 0499 820 763 8 Clontarf Close, Orange 4 beds 2 baths 3 cars
SALE
Price Guide On Request View By Appointment
Agent Josh Fitzgerald 0414304898
Team Fitzgerald 10 Clontarf Close, Orange
SALE
Price Guide
$1,290,000 - $1,340,000
View Saturday 12.15pm - 12.45pm
Agent Josh Fitzgerald 0414304898
Team Fitzgerald
SALE
Price Guide $1,250,000-$1,300,000
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
Price Guide $1,300,000-$1,400,000
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Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500 26 Clontarf Close, Orange 4 beds 2 baths 2 cars
98 McKay Road, Orange 3 beds 2 baths 3 cars
SALE
Price Guide On Request
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Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
SALE
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
37 Westerly Drive, Orange 4 beds 2 baths 6 cars
SALE
Price Guide On Request
View Saturday 10.45am - 11.15am
Agent Jack Aumuller 0481 985 825
Rachel Smith 0499 820 763
Orange | Molong | Bathurst
SALE
Price Guide $1,300,000-$1,400,000
View By Appointment
Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
SALE
Price Guide On Request
View By Appointment
Agent Josh Fitzgerald 0414304898
Team Fitzgerald
SALE
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald 78B Forbes Road,
SALE
Price Guide $1,250,000 - $1,350,000
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
SALE
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald 80 Stevenson Way, Orange
SALE
Price Guide $1,180,000 - $1,250,000
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Agent Tori White 0422 424 601 5 Clontarf
SALE
Price Guide On Request
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
SALE
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
SALE
Price Guide On Request View By Appointment
Agent Josh Fitzgerald 0414304898
Team Fitzgerald
Orange
Close, Orange
Orange | Molong | Bathurst
1 - 28 Clontarf Close, Orange 4 beds 2 baths 2 cars
SALE
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Agent Josh Fitzgerald 0414304898
Jack Aumuller 0481 985 825
31 Pippin Way, Orange 5 beds 2 baths 2 cars
SALE
Price Guide
$850,000-$900,000
View Saturday 10.45am - 11.15am
Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
62A Centennial Crescent, Orange Land
SALE
Price Guide $630,000 - $660,000
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Agent Josh Fitzgerald 0414304898
Jack Aumuller 0481 985 825
35A Larela Circuit, Orange 4 beds 3 baths 2 cars
SALE
Price Guide $900,000-$960,000
View Saturday 12.15pm - 12.45pm
Agent Josh Fitzgerald 0414304898
21 William Maker Drive, Orange 4 beds 2 baths 4 cars
SALE
Price Guide $870,000-$915,000
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Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
16 McLachlan Street, Orange
3 beds 1 bath 1 car
SALE
Price Guide $650,000-$700,000
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
3 Hamer Street, Orange 3 beds 2 baths 1 car
SALE
Price Guide $895,000 - $950,000
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Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
62B Centennial Crescent, Orange Land
SALE
Price Guide $650,000 - $ 680,000
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Agent Josh Fitzgerald 0414304898
Jack Aumuller 0481 985 825
174 Shiralee Road, Orange Land
SALE
Price Guide $599,000
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
Orange | Molong | Bathurst
50 Ferguson Street, Canowindra 2 beds 1 bath
SALE
Price Guide $550,000
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Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
Lot 121, Whitebox Street, Orange Land
SALE
Price Guide $335,000
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Agent Josh Fitzgerald 0414304898
Jack Aumuller 0481 985 825
SALE
Price Guide $299,000
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Agent Josh Fitzgerald 0414304898
Jack Aumuller 0481 985 825
15 Mountain Vista, Orange Land
SALE
Price Guide $510,000-$530,000
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Agent Scott Petersen 0408 583 099
Lauren Jones 0439 620 500
8 Mallard Way, Orange Land
SALE
Price Guide $330,000
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Agent Josh Fitzgerald 0414304898
Team Fitzgerald
502 Banjo Paterson Way, Molong
5 beds 3 baths 3 cars
SALE
Price Guide $1,350,000 - $1,450,000
View Saturday 9.15am - 9.45am
Agent Jodi Murray 0428 461 910
Scott Petersen 0408 583 099
Lot 174, Sundowner Street, Orange Land
SALE
Price Guide $375,000 View By Appointment
Agent Josh Fitzgerald 0414304898
Jack Aumuller 0481 985 825
Shiralee Estate, Tanika Street, Orange Land
SALE
Price Guide $295,000 View By Appointment
Agent Josh Fitzgerald 0414304898
Jack Aumuller 0481 985 825
39 Riddell Street, Molong 4 beds 2 baths 4 cars
SALE
Price Guide $1,300,000
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Agent Jodi Murray 0428 461 910
Lot 49, Joseph Street, Orange Land
Orange | Molong | Bathurst
39 Thistle Street, Molong 4 beds 2 baths 4 cars
SALE
Price Guide $1,050,000 View By Appointment
Agent Jodi Murray 0428 461 910
39 Queen Street, Molong Land
SALE
Price Guide $450,000 - $490,000 View By Appointment
Agent Lauren Jones 0439 620 500
Scott Petersen 0408 583 099
808 White Rock Road, Bathurst
7 beds 3 baths 6 cars
SALE
Price Guide $3,750,000-$3,850,000 View By Appointment
Agent Todd Houghton 0415 505 555
Scott Petersen 0408 583 099
97-99 Kiewa Street, Manildra 9 beds 4 baths 4 cars
SALE
Price Guide $790,000-$830,000 View By Appointment
Agent Jodi Murray 0428 461 910
17 Penrose Close, Molong Land
SALE
Price Guide $395,000 View By Appointment
Agent Jodi Murray 0428 461 910
33 Bathampton Road, Wimbledon
3 beds 2 baths 10 cars
SALE
Price Guide $1,800,000-$1,980,000
View By Appointment
Agent Scott Petersen 0408 583 099
Todd Houghton 0415 505 555
172 Hill Street, Molong 2 beds 1 bath 3 cars
SALE
Price Guide $500,000 -$550,000 View By Appointment
Agent Jodi Murray 0428 461 910
7 Keppel Street, Bathurst
EXPRESSIONS OF INTEREST
Price Guide On Request View By Appointment
Agent Todd Houghton 0415 505 555
Josh Fitzgerald 0414304898
153 Triangle Flat Road, Rockley
5 beds 1 bath 9 cars
SALE
Price Guide $1,150,000 View By Appointment
Agent Todd Houghton 0415 505 555
BEACHES
Thinking of Buying Out of Area?
Our Property Management team
Orange, Molong & Bathurst
Bec Hammond
Orange & Molong 0401 622 447 rebeccahammond@mcgrath.com.au
Dearne Yeghoyan
Central West 0400 795 271 dearneyeghoyan@mcgrath.com.au
At McGrath Property Management in Orange, Molong and Bathurst, our dedicated team takes pride in delivering exceptional service tailored to landlords and tenants alike. From comprehensive property marketing to thorough tenant screening, proactive maintenance coordination, and transparent financial reporting, we handle every aspect of property management with professionalism and care.
For more information about how our services can benefit you, please contact our Business Development Manager Rebecca Hammond in Orange and Molong or Dearne Yeghoyan in Central West.
We’re here to help you achieve your property investment goals.
Orange 02 7903 0753
Bathurst 02 6331 5555
Molong 02 6311 1534
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