As Australians’ acceptance of working from home sparks a shift in regional and interstate property prices, an interesting list of suburbs around the nation are enjoying a property sales boom.
More buyers trying Tasmania for property bargains
According to new data published by realestate.com.au, houses in the scenic waterside suburb of Seven Mile Beach, on the eastern shore of Hobart, Tasmania are moving through the hands of sellers at rapid speed, with just seven median days on the market – a startling number that shows some properties are going from being on the market to being sold in record time.
But as the post-pandemic trend to moving further afield than ever before grows in the minds of many mainland Australians, nine of the country’s 13 fastest property markets are actually in the Greater Hobart area, with houses in suburbs including West Hobart, Midway Point and Herdsmans Cove being sold at a median rate of under 13 days.
When it comes to how fast unit sales are moving in suburbs across Australia, Glenorchy, Bellerive and Moonah are among the Tasmanian regions featuring prominently on the list, with the fastest turnover for unit sales in the island state happening in Brighton – a commuter town situated 27 kilometres north of Hobart.
Demand in Tasmania’s property market is outstripping supply
One reason behind the high rate of property sales across Tasmania is the fact that, compared to 2020 listings, the number of properties on the market has flattened – a reality that is inspiring buyers to take action and put their mortgage where their mouth is.
Of all the Tasmanian suburbs featured on the latest fast list produced by realestate.com.au, the Dodges Ferry location saw the largest rise in the annual median price, with more than 22 per cent growth across the past twelve months.
For more information about mortgages to help you get your own foot in the property market door, talk to our mortgage broking specialists at Lending Specialists.