Despite recording the lowest annual change in capital city home values, Hobart had the biggest year-on-year growth in sales, so we’re revealing where Hobart’s hot spots are.
Compared to Australia’s other capital cities, Hobart properties under-performed over the last financial year with average price growth of just 1%. With inflation sitting at 3%, this actually represents a value fall in real terms.
However it’s not all doom and gloom because Hobart recorded by far the largest year-on-year jump in sales, up 21.6%, well above the combined capital cities average of just 4.4%.
This positive sales momentum could be an indicator that value growth is around the corner, and RP Data’s latest capital gain figures for the 12 months to October indicate the same, with growth at 4.4%.
Across the city, one in four houses and units are selling above the advertised price. Glebe, South Hobart and West Hobart were the top three performing suburbs for houses with more than half selling for more than advertised.
Homes on average are also selling faster than before, down from 87 to 81 days on market so it’s becoming even more important for buyers to be prepared to think quickly and act smart by getting pre-approval before starting a property search.
Here are Hobart’s Top 10 suburbs that sold above and below the advertised price last financial year.
Top Ten Suburbs Selling Above List Price – Houses:
Top Ten Suburbs Selling Above List Price – Units:
Top Ten Suburbs Selling Below List Price – Houses:
Top Ten Suburbs Selling Below List Price – Units:
Want more information? Download the full Property Discounting Report for free.
Are you looking to buy in Hobart? What suburb/s do you have your eye on?
Find out which suburbs are selling above or below the advertised price in Adelaide, Canberra, Darwin, Sydney, Melbourne, Brisbane, and Perth. And check out our Australian Property Pricing Report Infographic.
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