Battery Point has achieved a median house price above $2 million for the first time.
Tasmania’s most prestigious suburb, the latest PropTrack Market Trends report shows 17 house sales in Battery Point in July, with a median price of $2.4 million.
The suburb has been steadily increasing in price, jumping from $1.451 million in April to $1.5205 million in May and then $1.98 million in June.
Battery Point’s median house price was $750,000 less just 12 months ago, with several high-value sales recorded in the past year – including properties sold for over $3 million.
Real Estate Institute of Tasmania president Michael Walsh describes Battery Point as “out there on its own” when it comes to house prices.
“It is a very difficult number to get your head around,” he told realestate.com.au.
“Obviously, there are some big sales occurring in this suburb. When you are selling multiple homes in excess of $3m, that sure adds up.”
“It’s interesting to note that often local buyers dominate our top end sales.”
Battery Point’s closest competitors, Acton Park and Sandy Bay, have median prices of $1,335,750 and $1,325,000 respectively.
PropTrack’s executive manager of economic research, Cameron Kusher, believes it will take some time for Sandy Bay and Acton Park to reach the $2 million median price.
