The month in review: Tasmania
By Herron Todd White
In the past, activity in Tasmania’s residential market has been characterised as being driven from the bottom up. However the current First Home Builders Boost is undermining this driver in the existing home market within this first home buyer and investor market sector. State-wide the greatest volume of sales occurring in the residential property market is being achieved in the mid-price sector.
The second quarter of 2015 in the residential midprice sector, the southern region of Tasmania saw the greatest number of sales occur in the suburb of Howrah, located on Hobart’s eastern shore. Examples of sales in Howrah during this period include;
• a circa 1960s, 147 square metre dwelling located on just over 600 square metres for $371,000 • an older style, 104 square metre unit for $310,000 For this same period in the north the greatest number of sales in occurred in Legana. Examples of these sales include; • a near new, 98 square metre unit for $272,000 • a modern, 245 square metre home on just over 900 square metres of land for $395,000 • an older style, 159 square metre home on a lifestyle block for $353,000
For this same period in the north-west, the Devonport region is where the greatest number of sales in this sector occurred. Examples of sales include;
• a new, centrally located, 99 square metre unit for $364,000 • an older style, 203 square metre home located near to water for $377,000 • a modern, 131 square metre residence on a lifestyle block on the periphery of Devonport for $350,000
Overall the volume of sales is up off historic lows and with the ensuing selling season ahead we may see this volume increase.