Hobart Housing Market Finally Cooling & Wilkinson Point is for Sale

Hobart property owners with houses on the market are facing longer waits to secure a sale and may not get the price they want, with two sets of data confirming the market has cooled. After five years of unprecedented growth Hobart's property boom is officially over, according to data released by Tasmania's peak real estate body. ABC

Through the first three months of this year nearly $959 million worth of Tasmanian property was sold — down on the $1.034 billion for the same quarter last year. March quarter house sales were down 3.6 per cent from the December quarter; and down 8.5 per cent from the same period last year. NEWS

Last night, Glenorchy City Council unanimously voted to put Wilkinsons Point up for sale. Together with the Derwent Entertainment Centre, the waterfront property is expected to attract bidders from across Australia and overseas. But Glenorchy Mayor Kristie Johnston reaffirmed that any potential developer would need to ensure the public foreshore and Lloyd Rd access remains open to the community. Mercury

The worst housing market conditions now behind Sydney and Melbourne as dwelling values have now recorded respective falls of 14.5 per cent and 10.9 per cent since peaking in late 2017. But, as the downturn becomes “geographically diverse” with more regions across the country recording declines in values, Corelogic’s index results reveal the decline in home values has slowed pace in recent months also led by major markets Sydney and Melbourne's falling values now “losing steam”. Urban Developer

Greater Hobart’s most affordable suburb for house renters is Primrose Sands, the latest data has revealed. For renters hoping to pay $350 per week or less for a house, there are just nine suburbs to choose from. CoreLogic data for the 12 months through to the end of January have revealed Greater Hobart’s lowest asking median rent was $280 per week at Primrose Sands, $300 at Herdsmans Cove and $305 at Gagebrook. News

Australia's housing affordability crisis has reached new lows with rental affordability for low-income earners hitting the worst levels in a decade. Anglicare's annual Rental Affordability Snapshot, which surveyed 69,485 rental listings across the country, has tracked the availability of properties in the private market available for low-income Australians. Urban Developer