Tasmania’s property market continues to go from strength to strength after a 26 per cent house price growth in the past year alone. So, is now the time to invest in the Tasmanian real estate market? We investigate further.
There’s never been a better time to buy in Tasmania
Tasmania’s property market has never been so hot. From the capital city of Hobart’s whopping 28.4 per cent rise in house prices in the past year to the 26 per cent rise in house prices across the state as a whole, there really has never been a better time to buy in Tasmania, according to Real Estate Institute of Australia president Adrian Kelly who recently interviewed for Domain.
According to the interview, Australians from across the country are inquiring daily about Tasmania’s property boom, all wanting to know if they’ve missed the boat on this incredible growth rate. But the truth is, the growth in Tasmania’s real estate market has not stopped yet – nor has it slowed.
Australians across the country are interested in Tasmania’s real estate market because, until recent years, many of them weren’t even interested in our countries smallest state point-blank. With a drastic overhaul of tourism on the island following newcomers like MONA Art Museum and the multitude of events and festivals that have come with it, studies have gone on to cite this as a cultural revitalisation for the Tasmanian economy, leading to culture-led urban regeneration.
So not only has Tasmania become a jewel in the crown of a thriving Australian real estate market, it has also become a much more desirable place to live over the last decade, and as such has seen a huge rise of migration from the ‘mainland’, as Tasmanian’s affectionately call it.
So, where to from here?
The demand for housing is high and the supply is low, making Tasmania an attractive option for interstate investors. We’re eagerly watching to see how the market will continue to perform in the new year and are ready to help you search for your next property and diversify your portfolio.
Are you ready to find a property?
Please note, this article does not constitute financial or legal advice. The advice provided in this article is general in nature. Please consult your professional financial and legal advisors before making any decisions for yourself.