The Tasmanian Housing Market is booming!
Let’s being with the bad news for buyers and great news for sellers, SQM reports that national residential property listings fell by 2.7 per cent over February and 13.1 per cent over the last 12 months. The largest monthly decreases were in Adelaide, Brisbane and Perth but the largest annual decreases were in Hobart and Adelaide. With the number of listings in Hobart dropping by 1.8 per cent over February and a whopping 19.9 per cent over the last 12 months.
And if you’ve been paying attention, you might know that the number houses on market has been dropping for the last 24 months. And there are currently 33% less homes of on the market than this time, two years ago. So if you’re looking for a property at the moment, it’s roughly 20% harder than it was a year ago and 33% harder than it was two years ago. You have less options, more competition for a smaller number of homes, and fewer days on market to make a decision.
All the more reason to get yourself a buyers agent. If you’re interested in finding the right property, right now, talk to Sam. His picks have grown by 17% on average, every year, for the last five years. Whether you want great capital growth, exciting development potential or a solid return, Sam is the man to talk to.
Also, this week, momentum builds across Australian housing markets as values rise at the fastest rate in seventeen years. CoreLogic reports, Australian Home Values surged 2.1 per cent higher in February. Which is the largest month on month change since, August 2003. The report explain that the price surge has been spurred on by record low mortgage rates, improving economic conditions, government incentives and low levels of advertised supply.
Hobart saw the tied, largest monthly increase of home values in the nation at 2.5 per cent. The second largest quarterly increase at 4.8 per cent and the third highest annual increase at 13.8 percent.
Regional Tasmania also takes first place in all three categories with dwelling values rising 2.7 percent in the past month. 6.5 per cent in the past three months and 13.8 per cent in the last 12 months.
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