Tasmania September 2018

The month in review: Tasmania

By Herron Todd White
September 2018

TAS property

Apologies to the original author of that ditty. As we head into the death throes of winter, agents in both Hobart and Launceston are crossing their collective fingers and toes that there is a seasonal spring rush to market. Put simply, listings through most price segments and most metro suburbs are tight.

The strong (especially) first half of 2018 not only saw solid and at times surprising capital growth, it also removed much of the more desirable stock from the market.

Typically, spring is a good time to list in our southernmost state. The frost has thawed and the garden comes out of hibernation. People start to move around more given the Antarctic breeze has gone. The days start to stretch out again from the gloom of June. Simply put, everything is just brighter!

That said, this winter did see some surprises in many coastal holiday townships. The drift back to having that seaside beach house is certainly in full swing and we saw many purchasers active in the market.

Bridport, St Helens and Orford were stand outs with a few stories of agents knocking on prospective seller’s doors and negotiating sales without the buyer even inspecting the property!

This spring may well be a test of our market. As media is reporting on the slowdown in Melbourne and Sydney (and for some unexplained reason Domain ran these stories in the local weekly real estate guide as representative of the Tasmanian market), we have seen a cooling of what was a feverish market in Hobart. A solid spring selling period could lay the base as we enter into 2019. However, if this expected extra supply is not absorbed then it could well be the indicator that the peak of the market is near.

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