Tasmania Property Market Update November 2019

Hobart and Launceston Property Updates

Tasmania continues to lead the country in many property indicators.

However, in comparison to some of the larger mainland markets, the premium price segment does – to some extent – remain ‘affordable’.

Historically, the highest ever residential sale was in 2011 for in excess of $8 million. During 2019 to date the highest has been for $3.7 million being a riverfront holding positioned between Wrest Point and the Royal Hobart Yacht Club at 358 Sandy Bay Road, Hobart.

Comprising a dual-level holding with five-bedrooms, three-bathrooms and a double carport. As would be expected its fully secured with an electronic gate and features its own jetty.

The talk of the town, however, is the construction of a family residence at Tinderbox, just south of Blackmans Bay. Corelogic has reported a construction cost of $17 million on realestate.com. Records show the land was purchased for just over $3 million. Comprising a riverfront holding over dual levels with a floor area in excess of 1200 square metres of living. Anyone for a small hotel?

Up north in Launceston a sale was settled at the start of the year for $3.25 million. This was located at 1 Brisbane Street virtually within the CBD and known as “Glenfruin”.

Promoted as a historic Italianate style home it is positioned overlooking City Park on a 1482 square metre lot. The house is built over three levels, and is a fully renovated 1880’s home with four-to-five bedrooms.

Speak with a Hobart and a Launceston Mortgage Broker today.