Hobart’s Seller’s Market Still Hot
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Hobart’s Seller’s Market Still Hot

The Tasmanian capital’s property market continues to generate profit.

By Terry Christodoulou
Thu, Jan 20, 2022Grey Clock < 1 min

In CoreLogic’s latest Pain & Gain report, the firm found that Hobart had the highest rate of profit-making sales across Australia for the 15th consecutive quarter.

Within the Hobart LGA, 98% of seller’s made a median profit of $508,300.

In the previous quarter, the median profit was $443,500 — over $100,000 higher than the March quarter results.

Astonishingly, the Derwent Valley saw 100% of September quarter sales turn a profit compared to their most recent sale figure boasts a median profit of $240,000. Moreover, this sum was the smallest of the seven LGAs.

Elsewhere, areas such as Brighton registered a median profit of $245,000, Glenorchy $291,000 and Sorell $305,000.

Clarence sellers recorded a median profit of $356,949 while in Kingborough the sum was $384,000 with the percentage of all sales in the quarter that were profitable registering above 96% in each area.

The total value of the profit made in the Greater Hobart LGA’s was $12.9m in Brighton, Clarence $60.5m, Derwent Valley $12m, Glenorchy $51.3m, Hobart $83.6m, Kingborough $36.8m and Sorell $21m — a total of  $278,441,017 for the last quarter.

Further, in Hobart, 99.5% of units and 97.5% of houses made a profit — the only city where the housing segment incurred a higher incidence of lass-making sales compared to units.

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