A new report from the Real Estate Institute of Tasmania is suggesting Hobart and surrounds might be building for a strong finish to the year.
In the September quarter, the North and North West home markets have rallied, while the South has been slower to recover.
But Institute President Russell Yaxley has noticed that activity is starting to pick up.
“There is still a little bit of positive confidence coming back, properties are moving a little bit quicker, starting to see more people at open homes, so there are certainly still some very positive signs for the South and regions around Hobart in the quarter to come.”
The state’s North West was the best performing region for the September quarter.
It was was the only area to produce more sales than the previous June quarter and exceeded last year’s results by 93 sales or 18.7%.
Russell is finding buyers are attracted to the value proposition.
“The North West Coast has always had that affordable type of price tag compared to the south and so we’re starting to see first home buyers and investors seeing that opportunity, it’s a great place to raise a family, lots of infrastructure happening, so it’s with good reason we’re starting to see those prices continue to grow.”
The West Coast saw a little dip in its house sale activity for the September quarter in the report.
There were 24 sales at a median price of $182, 000 and rental homes can be had for just $300 a week.
Russell expects the direction of the housing market for the West Coast will be determined by employment and business ventures.
“We certainly need to see industry happening on the West Coast, it all comes down to population, supply and demand to see whether the prices will increase or decrease.”
