Tasmania now leads the capital cities on growth in house prices, with double-digit increases in the past 12 months, according to most research sources.
Hobart’s star has risen following improvements to the state economy in recent years.
After many years of sub-par performance, the Tasmanian economy has improved on the back of uplift in tourism, agriculture, business investment and infrastructure spending.
Tasmania remains in the No.4 ranking of CommSec’s State of the States report after being elevated to this position from No.7 early in 2017.
The property market has responded, with residential sales activity steadily improving and hotel developments worth $855 million are either recently completed, under construction or in the pipeline.
Hobart presents an attractive package to investors, with affordable prices compared to other capital cities, the lowest vacancies in capital city Australia and the highest rental yields.
This report covers the suburbs of Hobart, Bellerive, Blackmans Bay, Claremont, Geilston Bay, Glenorchy, Howrah, Kingston, Lenah Valley, Lindisfarne, Moonah, New Town, Sandy Bay, South Hobart and West Moonah.