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Tasmanian News

Property market changing

Damage from the coronavirus downturn's become apparent in Tasmania's real estate market.

In new Real Estate Institute of Tasmania figures, the number of home sale slumped in April, Launceston down 39%, Hobart off nearly 37%, with North West sales only falling around 12%.

That resilience in the North West is also reflected in its prices remaining steady, contrasting Hobart's median diving nearly 14%, Launceston down fractionally.

Statewide, vacant land sales actually rose 1.6% on April last year, the REIT digesting that as good news for the building industry.

First home buyers are apparently seeing opportunity with their purchasing up by 6%, the Institute calling that a 'great sign.'



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