The Real Estate Institute of Tasmania is reporting the number of house sales across Tasmania has seen a reduction by 5.3 per cent while other dwellings were down by 11 per cent and land sales declined by 9.2 per cent.

Although first home buyers were 21.4 per cent of the buying market this month, this figure is down 3 per cent on the previous month.

"We are confident this number will change with the recent offerings from the Federal Government in addition to the incentives available from the State Government," said REIT President Mandy Welling. 

"Hobart’s house sales increased by 20.8 per cent, whilst Launceston were up by 5.6 per cent and the North West Coast declined by 17.2 per cent.

"This decrease on the North West Coast is predicted to be the shortage of stock." 

Ms Welling said all areas across the state experienced an increase in values this month.  

"Launceston’s median house price increased by 4.9 per cent, Hobart 7 per cent and the North West areas 11 per cent which was down by 3 per cent on last month," said Ms Welling. 

"The majority of buyers across the state were second time buyers (44.4 per cent) and local (47.8 per cent).

"Investors held 14.1 per cent of the market." 

Vacancy rates remain steady across the state with the exception of Hobart which experienced a 0.1 per cent increase to 2.8 per cent. 

Current rates for dwellings as reported by the REIT:

North-West

• 2 bedroom unit $250
• 3 bedroom house $300

Launceston

• 2 bedroom unit $285
• 3 bedroom house $340

Hobart

• 2 bedroom unit $365
• 3 bedroom house $420

"These statistics reflect a confident market place which has remained steadfast throughout the pandemic," said Ms Welling.

"The focus will be on growth and the ability to increase construction levels to absorb the short fall of available stock across the table.

"The future is most concerning if this level of supply and demand remains.

"Increasing median sale prices is certainly on the agenda at this point."

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