Bridgewater house prices have jumped 21.7% in a year, making it one of Tasmania’s strongest-performing markets as buyers priced out elsewhere turn to the state’s cheapest suburbs.
PropTrack data shows suburbs that have traditionally offered Tasmanians their first step onto the property ladder are now recording some of the fastest price growth.
PropTrack’s Home Price Index puts regional Tasmania’s median dwelling value at around $589,000, up 13.6% over the past year.
That compares with Hobart’s median dwelling value of about $732,000, which rose 9.4% over the same period.
Across greater Hobart, the strongest performers were Bridgewater, up 21.7%, Chigwell, up 18.6%, Rosetta, up 18.2% and Risdon Vale, up 16.3%, according to PropTrack data for the 12 months to June 2026.
Austins Ferry and Midway Point also recorded strong gains of 23% and 19.5% respectively, although both sit at higher price points.
Real Estate Institute of Tasmania president Russell Yaxley said the suburbs shared one thing – they were among the cheapest places to buy.
“When affordability tightens across the state, demand concentrates at the entry point of the market, which is exactly what we are seeing,” he told Pulse.
“First home buyers who might once have looked at Moonah or Kingston are now competing in Chigwell and Risdon Vale and that competition is driving values up fastest at the affordable end.”
PropTrack data puts Kingston’s median house price at around $775,500 and Moonah’s at around $696,000.
While the growth has benefited existing homeowners, Yaxley said it was making it harder for new buyers to enter the market.
“The risk is that the suburbs that have traditionally given Tasmanians their first step onto the property ladder are increasing faster than anywhere else,” he said.
“Double digit growth in Gagebrook and Bridgewater is great news for existing owners, but it makes that first step harder for the next family.”
Yaxley said more homes were needed to ease the pressure.
“Until supply catches up with demand, the affordable end of the market will keep doing the heavy lifting,” he said.
