Property Market Value trends | Hobart

Here’s what’s happening in the Hobart property market according to Corelogic’s Decile report.

The report provides a detailed analysis at different levels of Australia’s property market by dividing the market into ten equal groups (or deciles) based on tiers of property value.

Hobart 2By analysing changes in dwelling values across each decile, the report identifies which parts of the market are over or under performing relative to the headline trends, summarising property market conditions nationally and across each of the capital cities.

While most capital cities are recording a slowing of value growth, Hobart values continue to rise rapidly.

Over the three months to April 2018, values in Hobart have increased by 3.6% which was their fastest quarterly rate of growth since the three months to December 2016.

Over the past 12 months, dwelling value in Hobart have risen 12.7%.

Values have increased across each of the 10 segments of the Hobart market over the past three months.

The rate of value growth has been strongest across the 6th decile with each of the more expensive deciles seeing progressively slower rates of growth.

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The 10th decile recorded quarterly growth of 1.9% which was the slowest of any of the 10 segments.

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Over the past 12 months, each of the 10 market segments have recorded an increase in values.

The 10th decile was the only segment in which values did not increase at a double-digit rate.

The most affordable 10% of properties in Hobart recorded the greatest value increase over the past year, followed by the second most affordable 10% of properties.

Over the past three months, the strongest value gains were broadly across properties valued between $430,138 and $478,394, while the slowest gains were for those valued in excess of $714,917.

Over the past year, the slowest gains were recorded for properties currently valued in excess of $714,917 while the strongest gains were for those properties with a current value below $258,238.

You may also be interested in reading:

PROPERTY MARKET VALUE TRENDS | PERTH

 

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About

Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au


'Property Market Value trends | Hobart' have 2 comments

  1. Avatar for Property Update

    September 1, 2018 Saavin

    Hi Tim,

    Thanks for the article on Hobart property trends. Am a first time investor with a very limited budget. Compared to other capital cities, here I can get a piece of residential land in any one of the land estates like glebe hill etc believe for less than 150K. But wondering what is the future property price growth of Hobart compared to big cities like Melbourne.

    Could you please advise.

    Thanks
    Saavin

    Reply

    • Avatar for Property Update

      September 1, 2018 Michael Yardney

      Saavin – in my mind you can’t buy an investment grade property for $150k – sure there re lot’s of properties around that are cheap, but they will always be cheap – please don’t make the same mistake so many beginning investors make and buy the wrong property

      Reply


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