Hobart Market Data

Hobart is the state capital and most populous city of Tasmania. Founded in 1803 as a penal colony, Hobart is Australia's second oldest capital city after Sydney. In 2006, the city had a greater area population of approximately 205,566.

The city is located in the state's south-east on the Derwent River. The skyline is dominated by Mount Wellington at 1,271 metres high.

Market Update – March quarter 2009*

Hobart	Mar quarter median	% change Dec 08 – Mar 09	% change Mar 08 – Mar 09
House Price	$315,000	-2.1	-6.0
House Rent (3 b/r)	$310 pw	0.0	+5.1
Unit Price	$247,500	-1.0	-1.0
Unit Rent (2 b/r)	$260 pw	+2.0	+6.1
Vacancy rate	2.1	+0.2	-0.2

* This is the most up to date available - property data is released 3 months after the end of each quarter.
Source: Real Estate Institute of Australia

Comment:

After a protracted upturn in values that commenced in 2000, Hobart’s residential market peaked in March 2008. Values have eased somewhat since although not substantially. There has been consistent rental growth over recent years which has kept yields at levels acceptable for investment.

Having said that, Hobart is not expected to continue its upward trend in the period ahead and we would be wary of further investment in this market at present.

Detailed Market Information:

For more detailed property market information click here, or contact Quartile
toll free on (02) 9499 4999 or download the latest Sydney Residential Property Market Report.

top p