The month in review: Tasmania

By Herron Todd White
July 2015

Tasmania’s property market continues to deliver more bang for the buck to buyers compared to other states. Relatively stable economic conditions, a more buoyant business sentiment, developments within the tourist and food production sectors and increases in residential property sales volumes in the first quarter of 2015 all bode well for a continued stable, positive outlook for the state.

Modern, centrally located 2-bedroom, 2-bathroom apartments (within a 500 metre range of the City centre) have sold from prices starting at just under $500,000. For larger apartments or those located on higher levels within an apartment complex prices in the mid $500,000 range are being achieved. Suburbs located within a six kilometre radius include Mount Nelson to the south of central Hobart where 4- to 5-bedroom homes on larger blocks can be purchased from just below to slightly above half a million dollars. A similar sized, older style home on a smaller parcel of land can be purchased in Lenah Valley, to the north-west within this radius for the same budget. Following this sized radius to the east in Bellerive, older style 3- to 4-bedroom, 1-bathroom homes have been purchased from just below to slightly above the $500,000 mark. Moonah, north of the City within this radius proves to be a much more affordable suburb as it is possible to purchase either two houses or a house and a unit with such a budget.

With a little change from a half a million dollar budget a 2-bedroom, 1-bathroom new townhouse can be purchased in central Launceston in the state’s north. To purchase a centrally located 3- to 4-bedroom character home you will need to stretch your budge to just over half a million dollars. In the well regarded, centrally located suburbs of East, South and West Launceston for a buyer with this budget range it is possible to purchase a variety of house styles including character, renovated 4-bedroom, 2-bathroom cottages and houses. To the city’s northwest in Riverside either a modern 3- to 4-bedroom home or an older style similar sized home with more land are available for purchase in this price bracket.

In Devonport in the state’s north-west, a $500,000 budget goes a long way. It is possible to purchase a large 4-bedroom, 2-bathroom home with spectacular views or water frontage on a larger than average parcel of land. The same is true for Burnie, further west however you get more land for your money. Alternatively there are currently modern, beach front 2-bedroom, 2-bathroom high rise units offered for sale at just under half a million dollars.