By Herron Todd White
December 2019

Hobart/Launceston/Regional Property Updates

Well, what a year we have had in the country’s best performing market.

Time to ask how we went calling the year ahead.

Back in February, we called Hobart as continuing to grow with a levelling off in the inner ring suburbs, Launceston to continue to push ahead and the north-west coast to strengthen its recovery.

So, what actually happened?

Hobart has continued to lead the nation in capital growth notwithstanding a levelling off from the double-digit growth of the past few years. The inner ring suburbs evened off a little but still achieved reasonable growth in the order of five per cent. However, some of the other suburbs such as Oakdowns (western side of the river) achieved an outstanding lift of 22 per cent in median pricing. The established suburb of Howrah lifted its median house price to $535,000 (eight per cent increase) and median unit price to $415,000 (twelve per cent increase).

In the north, Launceston has continued in leaps and bounds. The city is up broadly across all price segments, from Ravenswood (lower socio-economic suburb to the east of the city centre)  up 13 per cent to Newstead (higher priced inner suburb) up 11 per cent.

On the north-west coast, Devonport is continuing. It’s a steady rise, however, Burnie appears to have levelled off, which may be a reflection of a more stagnant population base.

Interestingly the stand out performers came from the north-east. Centres such as Bridport (coastal holiday township) and Scottsdale (a rural town near the mountain bike tracks) are both up 15 per cent and more.

The west coast is the dampener on the story however with centres such as Queenstown, Zeehan and Roseberry continuing to struggle on the back of a reduced mining sector.

Score out of ten? An eight with marks off for not quite nailing Burnie slightly coming off or the strength in the Launceston market.

Happy new year everyone! 🙂

Speak with a Hobart and a Launceston Mortgage Broker today.

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