House sales were up 15 percent compared to a year ago, according to the latest REIT quarterly data.
The Real Estate Institute of Tasmania's latest quarterly report shows that house sales were up 15 percent compared to a year ago, and the Tasmanian median house price is $310,000. After three consecutive quarters of Tasmanian house sale increases, the September quarter eased slightly, down 1.2 per cent. Looking at the five and ten year averages for the September quarter, house sales were up 19 per cent and 11 per cent respectively. Launceston's median house price rose 3.7 per cent for the quarter and 5.7 per cent for the year. Inner and Middle Hobart saw increases of 6.1 per cent and 0.9 per cent for the quarter, whilst Outer Hobart's median was down 2.2 per cent, resulting in a 5.2 per cent decrease overall for Hobart. The North-West Centres median house price decreased 2.6 per cent for the quarter and remained steady compared to September of last year. Sales for other dwellings in Tasmania rose 5.8 per cent for the quarter, a 14.1 per cent increase since September 2014. Launceston recorded the only increase, up 32.5 per cent for the quarter and 17.8 per cent for the year. With Inner, Middle and Outer Hobart sales decreasing since June, Hobart's other dwellings sales decreased 7.1 per cent for the quarter, although sales were up on last year by 14.5 per cent. The North-West Centres sales decreased 35.0 per cent. Tasmania's median price for other dwellings increased 3.6 per cent for the year, up 2.6 per cent for the quarter. Tasmania recorded over 686 million dollars' worth of property sold in the September quarter, down 0.5 per cent on the June quarter and up 17.1 per cent on last year. This was up 22 per cent on the five year average of 563 million and up 14 per cent on the ten year average of 603 million.