Tasmania has bucked the trend of many mainland property markets, notching up considerable capital growth in recent years. Despite the gains, there are still plenty of affordable suburbs to choose from.
Aussie and CoreLogic’s latest report Most affordable suburbs for housing report reveals the cheapest locations across Tasmania.
Tasmania’s state’s cheapest suburb
Tasmania offers an amazing spectrum of affordability. Four of Australia’s 20 most affordable suburbs for houses can be found on Tassie’s west coast. Queenstown takes out the top spot, with a median house value of $71,626. That’s followed closely by Zeehan ($74,960), and Tullah ($78,715).
Also on the west coast, Rosebery can claim to be the nation’s cheapest suburb for apartments, with a median unit value of $66,108 – though at the cheaper end of the market it can be possible to buy a unit in Rosebery for just $52,481.
George Town, to the north of Launceston, comes in at 14th on the nation’s list of 20 cheapest suburbs for units, with a median apartment value of $154,668.
Affordable suburbs in Hobart
Right now, Hobart can lay claim to be the strongest of Australia’s capital city housing markets, with property values rising 7.2% over the 12 months ending February 2019.
Although values are still rising, some of the heat has left the Hobart market, and there are still opportunities to pick up a budget-friendly property.
Across the Hobart area, seven suburbs have a median house value below $300,000. The cheapest is Gagebrook, with a median value of $217,278.
Apartment buyers can pocket some serious value, with every suburb in Hobart’s 20 cheapest list having a median unit value below $380,000. Taking out the top spot of Hobart’s cheapest suburb for units is Bridgewater with a median value of $227,020.
Cheap Inner-ring Hobart suburbs
Property values climb closer to the city centre, however there are still some suburbs within 10km of the Hobart CBD, where the median house value is below $300,000. Top picks for affordability include Risdon Vale and Clarendon Vale, where median house values are $261,661 and $271,897 respectively.
Across the unit market, 15 of Hobart’s 20 cheapest inner ring suburbs have a median value under $400,000. Glenorchy is the cheapest, with a median apartment value of $265,594.
Aussie’s research confirms that even on a tight budget, Tasmania offers a feast of affordable suburbs.