Hobart home values have increased slightly in the last month, with a growth of 0.09% in September and 0.27% in August, according to PropTrack’s Home Price Index.
Despite these monthly gains, Hobart remains the weakest performing capital city market, with an annual median price reduction of 3.83% and a 38% increase in house prices since March 2020.
The report’s author said the spring selling season has begun, with increased buyer and seller confidence leading to more choice in the market.
Downsizers looking to move out of larger homes are a prominent group of buyers in the current market.
In regional Tasmania, home prices decreased by 0.04% monthly and 1.41% over the past year.
While Hobart’s 12-month figures remain down, there are positive shifts in certain suburbs, such as Sandy Bay, where annual asking prices are up by 13%.
