Realty market in Hobart continues its growth story

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Hobart is still one of the most consistently performing real estate markets in Australia. As per the latest reports, properties in Goodwood, Mornington, Lenah Valley and West Moonah were sold within only 6 days on an average after being listed on the market. For 12 months till June 2018, reports indicate growth in double digits for median home prices between 18-22%. This is applicable for all of these areas with West Moonah posting 59 units in sales followed by 35 units and 19 units in Mornington and Goodwood. Lenah Valley had 34 units in sales volumes.

The average asking rentals are steadily going up in these areas. Lenah Valley is still comparatively affordable and this is drawing buyers. However, prices will soon increase on the back of rising demand according to market experts. It is probably the only affordable suburb that remains in Hobart at present, such is the demand for property in the city. Areas like Mount Stuart, New Town and West Hobart are also doing pretty good. Lenah Valley, however, is turning into a coveted location for its reasonable property prices and proximity to the city centre.

There are all necessary social amenities present here including clinics, medical centres, supermarkets, cafes and parks among others. Investors are also snapping up properties in good locations like Moonah, Mornington and Goodwood which are seeing rapid growth.
In fact, sales volumes are also strong in areas like North Hobart, Lutana, Howrah, Bellerive and Howrah. Several Greater Hobart suburbs are also starting to find their feet in a growing property market. The local market remains very strong in Hobart and this trend should continue over the next few months as per reports.

Resident Editor