Hobart is well positioned for steady growth this year, according to the latest forecast from Herron Todd White (HTW).
Stephan Ning Liu, real estate expert at HTW, said historically low interest rates and "security" in Tasmania will be the main drivers of housing demand in the city this year. He said properties in the less than $ 600,000 price range would likely be the best place for potential buyers.
"Multiple offers are always presented by agents with offers most often exceeding supplier expectations," he said.
However, Liu noted that with increasing selling prices, rental yields decrease slightly. Yet demand remains strong for reasonably priced rental properties across the region.
"The days – for now – when a 7% yield was the norm are over. Tasmania has the lowest average wages in Australia and affordability of rents is also an issue, ”he said.
The outer suburbs are also likely to post gains this year, as shoppers try to find an alternative to inner-city and surrounding markets whose prices may already be out of reach.
“Affordable suburbs are generally found in the outlying areas, particularly north of the capital, including Herdsmans Cove, Brighton, New Norfolk and to the east, Rokeby and Clarendon Vale. These areas are generally low to medium socio-economic areas with good signs of growth and high demand, "Liu said.
Top suburbs:
fern ravine
,
Scarborough
,
trott park
,
Collingwood
,
Darlington
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