Tasmanian Real Estate Sets New Record | Kanebridge News
Kanebridge News
Share Button

Tasmanian Real Estate Sets New Record

The state’s median house price is at a record level.

By Terry Christodoulou
Fri, Oct 29, 2021Grey Clock < 1 min

Launceston has seen median house prices increase by 23.8% in the past year – now up to $470,000, according to the latest data from the Real Estate Institute of Tasmania (REIT).

The REIT’s quarterly report noted a record 4.46 billion in real estate sales in Tasmania over the past 12 months until September.

Sales in 2021 lifted by 15.8% on the previous year with values up 18.7%.

Across the state, the median price for a Tasmanian home in September was $520,000 – an increase of 7.4% over 12 months.

According to REIT, the lift in property prices has lowered investment levels. Mainland buyer numbers were up to 1653 from 1051 last year but only represented 18.1% of sales.

Investor levels tell a similar story with sales to investors up to 36.5% compares to last year however represented 19% of all sales.

Real Estate Institute of Tasmania president Michael Walsh said strong buyer demand and a severe lack of supply was being experienced by each Australian capital city.

“We clearly need to find avenues to release the pressure that has been placed on the rental and sales markets by seeking the government’s help to look for ways to expediently create more rental properties and building more established homes for sale,” said Mr Walsh,

With investor levels down, a rise in pressure on rental asking prices has been felt across the Tasmanian market. The quarterly report indicates rental vacancy rates are between 0.8 to 1.2 % across the state.


Interior designer Thomas Hamel on where it goes wrong in so many homes.

Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.

Related Stories
By Robyn Willis
Fri, Aug 19, 2022 < 1 min

Treechangers seeking a home and income should take note of this west coast property in picturesque Pickering Brook in the Perth Hills, which comes with its own live-in residents.

Known as ‘the Margaret River of the Hills’ the area boasts stunning bushland while being just 30 minutes from all the amenity Perth has to offer.

With eight bedrooms and 10 bathrooms, this property is a home and business, operating as a thriving day spa, Hidden Valley Eco Lodges and Day Spa.

The private main residence is made of rammed earth for thermal comfort and has three bedrooms, luxurious bathroom and a large open plan living area. A private jacuzzi on the spacious entertaining deck is the perfect spot for enjoying beautiful bushland views at the end of a long day.

For day spa guests, there are four deluxe spa treatment rooms serviced by qualified staff, a reception area and lounge plus a commercial kitchen. Overnight guests can choose from five lodges with fully equipped kitchen and heated jacuzzi. As a going concern with a consistently high annual turnover, it’s a unique opportunity for the right buyer.

Set over 5.46ha, the property is also home to a very special group of residents: a small herd of alpacas, which are included in the sale.

Price guide: $6.5 million

Inspection: By expression of interest

Agent: Susanne Broido, The Agency 0499 770 237