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Tasmania remains affordable



 

The Real Estate Institute of Tasmania (REIT) has recently released its June Quarter Property Report, which has revealed a decrease of 6.5 per cent in house sales across the State for the quarter.

According to REIT President Adrian Kelly, while house sales have decreased, ten municipalities have seen an increase in the median house price for the quarter. “There are also currently six municipalities across Tasmania recording a median house price higher than that of the State median, those being Clarence, Hobart, Kingborough, Latrobe and the Meander Valley”.

“The median house price for Tasmania decreased by 3.3 per cent to sit at $290,000 for the quarter, representing a 4.9 per cent decrease for the entire year. “Hobart ($370,000) saw an increase in its median house price of 4.8 per cent, while Launceston saw a decrease of 1.2 per cent. The North-West centres were hit hardest with a 7.0 per cent decrease for the quarter, but only a 4.9 per cent decrease for the year.

The June Quarter Report also revealed which suburbs in Tasmania are experiencing the highest turnover as well as which are the most affordable and expensive.

 

Top 5 most expensive

 

Top 5 most affordable

 

Top 5 highest turnover

 

“The report also shows us that first time buyers accounted for 15 per cent of house sales, and interstate buyers accounted for 14 per cent of house sales for the June quarter.

“The average time it took to sell a house fell by two days for the June quarter, closing the median at 77 days for Tasmania.”