Primrose Sands, a beach suburb located around 45 minutes drive from Hobart, has doubled its median price at an extraordinary pace, according to new PropTrack data.
It took only 47 months for median prices to climb from $255,000 to $510,000, making it the fastest growing Tasmanian suburb.
Greater Hobart’s average was 83 months, while the rest of Tasmania took 71 months.
PropTrack’s Director of Economic Research Cameron Kusher told realestate.com.au that to see prices double so quickly was “extremely unusual”.
“If you look at Hobart as a whole, the pace that prices have doubled at was significantly less than what we have seen in other parts of the country,” he said.
“It speaks to how strong price growth has been in Hobart and Tasmania in recent years.”
Rokeby houses were also quick to double in median price, taking only 49 months to go from $299,000 to $600,000.
Clarendon Vale, Bridgewater and Gagebrook were not far behind, taking 49, 50 and 54 months respectively.
Among the top 10 suburbs, Sandford was the most expensive, going from $577,500 to a whopping $1.18 million in just 56 months.
TOP 10 SUBURBS
| Suburb | Current Median | Start Median | Months to Double |
|---|---|---|---|
| HOBART | |||
| Primrose Sands | $510,000 | $255,000 | 47 |
| Rokeby | $600,000 | $299,000 | 49 |
| Clarendon Vale | $470,000 | $230,000 | 49 |
| Bridgewater | $480,000 | $240,000 | 50 |
| Gagebrook | $385,000 | $192,000 | 54 |
| Collinsvale | $678,500 | $337,500 | 55 |
| Sandford | $1.18m | $577,500 | 56 |
| Lewisham | $870,000 | $415,000 | 57 |
| Dodges Ferry | $621,000 | $310,000 | 57 |
| Warrane | $600,000 | $300,000 | 58 |
| REGIONAL | |||
| Scamander | $677,500 | $322,500 | 40 |
| Mayfield | $370,000 | $185,000 | 41 |
| Forth | $864,500 | $426,000 | 43 |
| Dover | $575,000 | $287,500 | 44 |
| Oatlands | $485,000 | $241,750 | 44 |
| Eaglehawk Neck | $790,000 | $392,500 | 45 |
| Zeehan | $199,000 | $93,000 | 45 |
| Beaconsfield | $418,500 | $209,000 | 45 |
