Hobart has recorded its highest house sales in three years, according to the Real Estate Institute of Tasmania’s (REIT) June Quarter Property Report.
The report found house sales in the capital increased by 18 per cent for the quarter and that house sales in Tasmania had grown by 10.5 per cent in June, up 19.2 per cent for the year.
In Launceston house sales rose 34.4 per cent for the quarter, up 11.8 per cent on June last year. They were the highest sales achieved in the last two years.
House sales in the north west centres experienced a slight decrease of 1.7 per cent for the quarter, but were still up 7.5 per cent for the year.
REIT president Adrian Kelly said the report was a positive sign for Tasmania’s real estate market, especially during the cooler winter season.
“Whilst sellers feel it is a good strategy to wait until spring before listing their property, I suggest they discuss this approach with their agent, as selling in winter when there are fewer properties available for purchase can sometimes work in their favour,” he said.
According to the report, the top five most expensive suburbs were Battery Point, Tolmans Hill, Sandy Bay, Richmond and Taroona.
The top five Tasmanian suburbs with the highest turnover of house sales were Kingston, Sandy Bay, Devonport, Lenah Valley and Howrah.
First home buyers remained steady for the June quarter, accounting for 19 per cent of house sales across the state, with a median purchase house price of $270,000.
Second home buyers still held more than half of the property market, accounting for 55 per cent of house sales at a median house price of $320,000.
The report also showed the average time to sell a property in Tasmania was two weeks quicker in the June quarter, with the median time on market at 75 days.