The Smartline Report – July Edition

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.


Please note that information in this publication is subject to change without notice. Smartline assumes no responsibility for any errors, omissions or mistakes in this document. © Smartline Home Loans P/L 1999 – 2015. Australian Credit Licence Number 385325


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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.