Tasmania

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Property for sale in Tasmania

Are you looking for property for sale in Tasmania?

Tasmania is an isolated insular state off the south coast of Australia, known for its vast wild and irregular territories, largely protected by parks and nature reserves. On the peninsula of Tasmania stands the 19th-century penitentiary of Port Arthur and now an open-air museum, while in the port city of Hobart, the capital of the island, the Georgian warehouses of Salamanca Place host art galleries and boutiques.

If you want to buy a property for sale in Tasmania you have to know that Tasmania's real estate sector is picking up negative signs for a booming property market, even if prices are stronger than ever.

The latest quarterly report of the Real Estate Institute of Tasmania showed that the average price of Hobart's home grew 12% in the year to February.

 

A 3.8% fall in Hobart home sales over the same period indicates that the market is losing energy.

The forecasts say that by the end of this year the Hobart market will grow cold.

The lack of ownership in the market is helping to push prices higher, but also to make potential buyers of property for sale in Tasmania more cautious.

Prices are rising and people start to mumble.

There is really a need for new properties for sale in Tasmania market to meet the demand.

 

As for the capital, Hobart is losing its title as the most affordable city in Australia, with the average house price now on par with Adelaide.

 

Hobart and the surrounding areas dominate the list of the 10 most sought-after suburbs of Australia, with Battery Point, North Hobart, Richmond.

The average house price of Hobart for the April quarter is up 19% over the same period last year and by far the largest increase of any other capital.

Tasmania is the hottest market currently in Australia, we have certainly never seen this wave of activity.

Employment growth and poor housing development were the two factors that pushed prices upwards.

While real estate investors are probably a key factor in price increases, strong rental demand growth suggests that the market is supported by people who need a place to live.

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