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Yes, the analysis of Tasmania's property market is included in our pack
Tasmania's property market has seen remarkable growth, with the statewide average house price reaching $670,000 as of September 2025. Greater Hobart leads with median prices between $710,000-$735,000, while regional areas offer more affordable entry points starting from $362,000 in towns like George Town. The market shows strong fundamentals with up-and-coming areas like Moonah and Glenorchy presenting excellent opportunities for both investors and owner-occupiers.
If you want to go deeper, you can check our pack of documents related to the real estate market in Tasmania, based on reliable facts and data, not opinions or rumors.
Tasmania's property market offers diverse price points from budget-friendly regional towns at $362,000 to premium Hobart suburbs exceeding $1.4 million.
The market has grown 45% over five years with forecasts suggesting continued moderate growth of 1-3% annually in the coming years.
| Region | Average House Price | Property Type Focus |
|---|---|---|
| Greater Hobart | $710,000 - $735,000 | Detached houses, premium apartments |
| Launceston | $550,000 - $585,000 | Family homes, townhouses |
| Devonport | $476,000 - $510,000 | Affordable houses, coastal properties |
| Regional/Coastal | $517,000 - $620,000 | Lifestyle properties, holiday homes |
| Rural/Inland | $400,000 - $570,000 | Rural homes, larger blocks |
| Budget Towns | $362,000 - $450,000 | Entry-level properties |
| Up-and-Coming | $458,500 - $613,500 | Growth suburbs, renovation opportunities |
What's the current average house price in Tasmania overall today?
The statewide average house price in Tasmania stands at $670,000 as of September 2025.
This figure represents a significant milestone for the Tasmanian property market, reflecting steady growth and increased demand across the island state. The average encompasses all property types and regions, from premium waterfront homes in Hobart to affordable rural properties in the north-west.
Greater Hobart pushes the state average higher with median house prices ranging between $710,000 and $735,000, while regional Tasmania offers more accessible entry points. The contrast is substantial - while Hobart commands premium prices due to its capital city status and employment opportunities, regional areas provide genuine affordability with median prices clustering between $517,000 and $555,000.
The lowest regional towns start at just $362,000, making Tasmania one of Australia's most affordable property markets. This price diversity means both first-time buyers and investors can find suitable opportunities across different budget ranges.
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How do average prices differ by property type like detached houses, apartments, townhouses, and rural homes?
Detached houses command the highest prices across Tasmania, with the state average of $670,000 primarily driven by this property type.
| Property Type | Tasmania Average | Hobart Range |
|---|---|---|
| Detached House | $670,000 | $710,000 - $735,000 |
| Apartment/Unit | $510,000 | $510,000 - $554,000 |
| Townhouse | $600,000 - $650,000 | $600,000 - $730,000 |
| Rural Home | $400,000 - $570,000 | Not applicable |
| Launceston House | $550,000 - $585,000 | Regional pricing |
| Devonport House | $476,000 - $510,000 | Coastal town pricing |
| Regional Apartment | $450,000 - $475,000 | Outside Hobart |
Which areas or regions in Tasmania are most expensive, which are budget-friendly, and which are up-and-coming?
Sandy Bay in Hobart represents Tasmania's most expensive real estate market, with properties regularly exceeding $1.4 million.
The premium market centers around Hobart's established suburbs, where North Hobart commands a median price near $978,000. These areas benefit from proximity to the CBD, prestigious schools, and heritage character that appeals to affluent buyers and investors seeking blue-chip properties.
Budget-friendly options exist primarily in regional towns, with George Town offering the state's most affordable median at $362,000. Burnie presents good value at $450,000, while Devonport ranges between $476,000 and $510,000. These towns provide genuine affordability without sacrificing basic amenities and lifestyle benefits.
Up-and-coming areas show the strongest potential for capital growth. Moonah averages $613,500 and benefits from urban renewal projects and improved transport links. Glenorchy sits at $612,500 and offers proximity to Hobart at a significant discount. Brighton commands around $565,000 and attracts families seeking space and value in Hobart's northern corridor.
Coastal gentrification opportunities exist in places like Primrose Sands at $458,500, where lifestyle buyers are driving demand for waterfront and near-water properties.
How does average price vary between Greater Hobart, Launceston, Devonport, regional/coastal zones, and rural inland?
Greater Hobart dominates Tasmania's property market with the highest price ranges from $710,000 to $940,000 depending on the specific suburb.
Launceston, as Tasmania's second-largest city, offers more moderate pricing between $550,000 and $585,000. This represents excellent value for a regional center with full amenities, employment opportunities, and cultural attractions. The city has experienced steady growth after a period of stagnation, making it attractive for both investors and families.
Devonport provides coastal living at affordable prices ranging from $476,000 to $510,000. This north-west coastal city benefits from the Spirit of Tasmania ferry terminal, creating both tourism and economic activity that supports property values.
Regional and coastal zones cluster between $517,000 and $620,000, reflecting growing demand for lifestyle properties. These areas include popular coastal towns and regional centers that offer amenities while maintaining more relaxed lifestyles than major cities.
Rural and inland areas, particularly in the west and north-west, remain the most affordable at $400,000 to $570,000. Despite lower absolute prices, these areas often show the fastest percentage growth as investors and sea-changers discover their value proposition.
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What's the average price per square metre across different property types and regions?
Hobart properties average approximately $7,750 per square metre as of September 2025, based on the median sale price of $845,000 for typical inner-suburb blocks of 110 square metres.
This pricing reflects the premium commanded by Tasmania's capital city, where land values have appreciated significantly due to limited supply and growing demand. Inner-city and waterfront properties command even higher rates, often exceeding $10,000 per square metre in prime locations like Battery Point and Sandy Bay.
Regional towns vary significantly in their per-square-metre pricing, typically ranging from $2,500 to $5,000 per square metre. Coastal towns like Devonport and Burnie tend toward the higher end of this range due to lifestyle appeal and proximity to beaches and recreational facilities.
Apartments command approximately 10-15% higher rates per square metre compared to detached houses, compensating for their smaller size with location premiums and reduced maintenance requirements. This premium reflects the efficiency of apartment living and proximity to amenities that apartment dwellers typically enjoy.
Rural and inland properties offer the lowest per-square-metre costs, often below $2,500, but come with larger land parcels that can provide excellent value for buyers seeking space and privacy.
What would the total cost of purchasing a typical house be when including fees, taxes, stamp duty, and other buying costs?
For a typical $670,000 house purchase in Tasmania, buyers should budget approximately $160,000 in total upfront costs including deposit and fees.
Stamp duty represents the largest additional cost, calculated at approximately $24,000 for a $670,000 purchase. Tasmania uses a tiered system where rates increase with property value - for example, a $350,000 property incurs $11,935 in stamp duty, while a $400,000 property costs $13,998.
First home buyers receive significant relief through full stamp duty exemption for properties up to $750,000, provided they're purchasing established homes after February 2024. This exemption can save tens of thousands of dollars and makes property ownership more accessible for new entrants.
Additional fees including legal costs, building inspections, and transfer fees typically add $3,000 to $7,000 to the purchase price. These cover essential services like conveyancing, pest and building reports, and government transfer fees that ensure a smooth and secure transaction.
With a standard 20% deposit ($134,000 for our example), buyers need to prepare for significant upfront costs even before considering moving expenses and immediate property improvements.
If you finance through a mortgage, what would the typical monthly payment be considering current interest rates and typical loan terms?
Current variable mortgage rates in Tasmania range from 4.89% to 5.6% as of September 2025, significantly impacting monthly repayments.
For a $600,000 loan over 30 years at 5.5% interest, borrowers face monthly principal and interest payments of approximately $3,040. This calculation assumes a standard 30-year term and variable rate, which most Australian lenders offer as their primary product.
Using the state average house price of $670,000 with a 20% deposit leaves a loan amount of $536,000. At current rates, this translates to monthly payments around $2,715, making property ownership accessible for households with combined incomes above $90,000 annually.
Interest rate variations significantly impact affordability - a 0.5% rate increase adds approximately $150 to monthly payments on a $500,000 loan. Borrowers should factor potential rate rises into their budget planning, especially given the current economic environment.
Fixed-rate options provide payment certainty but typically carry slightly higher initial rates. Many borrowers choose split loans, fixing a portion while keeping some variable exposure to benefit from potential rate decreases.
What are the smartest options if your goal is to live in the property versus rent it out short-term, versus rent it out long-term?
Owner-occupiers should focus on established suburbs with strong infrastructure and employment proximity, particularly in Greater Hobart and Launceston.
1. **Live-in Strategy**: Target suburbs like Moonah, Glenorchy, or Brighton for family living with growth potential. These areas offer reasonable commutes to Hobart while providing better value than premium inner suburbs.2. **Short-term Rental Strategy**: Focus on Hobart's inner areas, coastal towns, and tourism hotspots. Properties near MONA, waterfront locations, and historic areas command premium nightly rates from tourists and business travelers.3. **Long-term Rental Strategy**: Prioritize suburbs with strong rental demand from families and professionals. Areas near universities, hospitals, and major employers generate consistent rental income.4. **Regional Opportunities**: Towns like Devonport and Burnie offer excellent long-term rental yields, often reaching 6% annually in affordable suburbs like Ravenswood and Acton.5. **Regulatory Considerations**: Short-term rentals face increasing regulation in popular areas, making long-term strategies more predictable for risk-averse investors.It's something we develop in our Australia property pack.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Australia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
If your plan is to buy now and resell later, where are the areas with the highest upside for resale?
Up-and-coming suburbs in Hobart's northern corridor present the strongest resale potential, particularly Moonah, Glenorchy, and Brighton.
These areas benefit from urban renewal projects, improved transport infrastructure, and proximity to Hobart without the premium pricing of established inner suburbs. Government investment in these corridors includes road upgrades and public transport improvements that will enhance accessibility and desirability.
Coastal emerging areas like Primrose Sands and Bicheno show excellent potential as lifestyle migration continues. These locations attract sea-changers and retirees seeking coastal living at reasonable prices, driving sustained demand growth.
Launceston and surrounding areas present significant upside after years of relative stagnation. The city's improved economic prospects and infrastructure investment position it for stronger growth compared to recent years.
Hobart's inner ring suburbs remain blue-chip investments but face moderated growth as affordability constraints limit buyer numbers. These properties work best as long-term holds rather than quick appreciation plays, offering stability and consistent capital growth over extended periods.
Can you give an example of a recent purchase price in each category—expensive area, budget area, and up-and-coming area—for context?
Recent sales data from September 2025 illustrates the significant price variations across Tasmania's property market categories.
In the expensive category, Sandy Bay properties regularly exceed $1.4 million, with waterfront and heritage homes commanding even higher premiums. These represent Tasmania's most prestigious addresses, offering harbor views, historic character, and proximity to excellent schools and amenities.
Up-and-coming areas show varied pricing within their growth trajectories. Moonah houses sell around $613,500, reflecting the suburb's transformation and improved connectivity to central Hobart. North Hobart commands approximately $978,000, demonstrating how established character areas benefit from gentrification and urban renewal.
Budget-friendly examples highlight Tasmania's affordability compared to mainland capitals. George Town offers typical house prices at $362,000, providing genuine entry-level opportunities in a regional setting. Acton presents similar value with recent median sales around $355,000, appealing to first-time buyers and investors seeking affordable regional exposure.
These examples demonstrate the breadth of Tasmania's property market, accommodating diverse buyer budgets and investment strategies while maintaining the lifestyle benefits that make the island state increasingly attractive to both residents and investors.
How have average house prices in Tasmania changed compared to one year ago and five years ago?
Tasmania's property market has experienced remarkable growth over both short and long-term periods, with prices rising 3.2% statewide in the past year to September 2025.
| Time Period | Tasmania Average | Hobart | Regional Towns |
|---|---|---|---|
| 2020 | $470,000 | $520,000 | $380,000 |
| 2024 | $649,000 | $692,000 | $498,000 |
| September 2025 | $670,000 | $710,000+ | $517,000-$555,000 |
| 1-Year Change | +3.2% | +2.6% | +3.7% |
| 5-Year Change | +45% | +37% | +36% |
The five-year growth trajectory shows exceptional performance, with the state average increasing 45% from approximately $470,000 in 2020 to $670,000 in 2025. This growth reflects Tasmania's emergence as a lifestyle destination and investment opportunity, driven by mainland migration and improved economic fundamentals.
Regional towns have shown particularly strong recent performance, growing 3.7% year-on-year compared to Hobart's more moderate 2.6%. This suggests a maturation of the market where regional areas catch up to previously established growth patterns in the capital.
What are the price forecasts over the next one year, five years, and ten years, and how do Tasmania's current and future prices compare with similar markets in other cities or regions?
Tasmania's property market forecasts suggest continued moderate growth with 1-3% annual increases expected over the next 12 months, led by north-west regions and affordable suburbs.
Five-year projections indicate cumulative growth of 10-18%, driven by infrastructure development, continued migration, and recovery from the 2022-23 market lull. This growth rate positions Tasmania competitively among Australian regional markets while maintaining relative affordability.
Ten-year forecasts suggest prices may double in up-and-coming hubs while established Hobart suburbs could climb 50%. These projections reflect Tasmania's fundamental advantages including lifestyle appeal, government investment, and continued mainland interest in island living.
Compared to mainland markets, Tasmania remains significantly more affordable than Sydney, Melbourne, or Brisbane, yet registers stronger proportional growth than most regional areas. Sydney's median exceeds $1.3 million while Melbourne approaches $900,000, making Tasmania's $670,000 average highly attractive to interstate migrants.
Tasmania's unique position as Australia's only island state provides natural supply constraints that support long-term value appreciation. Unlike unlimited regional expansion possible on the mainland, Tasmania's fixed geography creates inherent scarcity that benefits property values over extended periods.
It's something we develop in our Australia property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Tasmania's property market offers compelling opportunities across diverse price ranges, from budget-friendly regional towns to premium Hobart suburbs.
With continued moderate growth forecasted and relative affordability compared to mainland capitals, Tasmania presents an attractive proposition for both investors and owner-occupiers seeking lifestyle and value.
Sources
- BambooRoutes - Average House Price in Tasmania
- Aussie Home Loans - Tasmania Property Market Forecast
- BambooRoutes - Tasmania Price Forecasts
- 4one4 Property - Tasmania 2025 Real Estate Market
- OpenAgent - Best Areas to Buy Property in Tasmania
- Canstar - Best Suburbs in Regional Tasmania
- RealEstate.com.au - Tasmania Growth Picks for 2025
- SQM Research - Tasmania Property Prices
- Unconditional Finance - Stamp Duty Tasmania
- Canstar - Home Loans