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Tasmania's property market offers compelling value with average prices per square meter ranging from $2,400 in budget areas to over $7,000 in premium suburbs. The statewide average sits around $3,680 per square meter for existing homes, making Tasmania one of Australia's most affordable states for property investment.
As of September 2025, building costs range from $2,250 to $6,000 per square meter, while established property prices vary significantly across regions, with Hobart commanding the highest premiums and regional areas offering excellent value propositions for both investors and owner-occupiers.
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Tasmania's property prices per square meter range from $2,400 in budget areas to $7,000+ in premium suburbs, with a state average of $3,680/m² for existing homes.
Hobart leads with $4,057/m², followed by Launceston at $3,515/m² and Devonport at $3,173/m², offering diverse investment opportunities across price points.
| Region | Median House Price | Price per m² | Annual Growth |
|---|---|---|---|
| Hobart | $710,000-$735,000 | $4,057/m² | +2.6% |
| Launceston | $550,000-$585,000 | $3,515/m² | +4.8% |
| Devonport | $476,000-$510,000 | $3,173/m² | +4.2% |
| Regional Average | $517,000-$555,000 | $3,300-$3,470/m² | +3.7% |
| Budget Areas | $362,000 | $2,413/m² | +3.5% |
| Premium Suburbs | $1.4M+ | $7,000+/m² | +1.8% |
| Build Costs | New Construction | $2,250-$6,000/m² | Material dependent |
How much is the average price per square meter in Tasmania overall?
The average price per square meter in Tasmania sits at approximately $3,680 for existing homes as of September 2025.
This figure comes from dividing the statewide median house price of $670,000 by the average home size of 182 square meters. For new construction, building costs range from $2,250 to $6,000 per square meter, depending on materials, finishings, and location specifications.
The Tasmania residential market shows significant variation within this average, with budget areas starting around $2,400 per square meter and premium suburbs exceeding $7,000 per square meter. Most residential projects in 2025 fall within the $2,500-$6,000 per square meter range for new builds.
Compared to mainland Australia, Tasmania offers exceptional value, with prices significantly lower than Sydney's $10,000+ per square meter, Melbourne's $7,000-$8,000 range, and Brisbane's $5,000+ averages. This positioning makes Tasmania an attractive option for both investors seeking affordability and owner-occupiers looking for lifestyle value.
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How does that average break down by property types like houses, apartments, and land?
Houses dominate Tasmania's property market with prices ranging from $2,250-$6,000 per square meter for new builds and approximately $3,680 per square meter for existing homes.
Apartments and units typically cost $2,000-$5,000 per square meter to build, with existing unit prices often lower than houses on a per-square-meter basis. However, premium apartments in central Hobart can command higher rates due to location premiums and scarcity factors.
Land prices vary dramatically based on location, zoning, and utility access, ranging from $1,000-$2,500 per square meter in developed areas. Rural and regional land can be significantly cheaper, while prime waterfront or city-center plots command premium rates.
The Tasmania property market favors houses over apartments, with single-family homes representing the majority of transactions. Units are more common in Hobart's inner suburbs and offer higher density living options at competitive per-square-meter rates.
What are the average prices per square meter for different regions within Tasmania?
| Region | Median Price | Price per m² | Growth Rate |
|---|---|---|---|
| Hobart | $710,000-$735,000 | $4,057/m² | +2.6% |
| Launceston | $550,000-$585,000 | $3,515/m² | +4.8% |
| Devonport | $476,000-$510,000 | $3,173/m² | +4.2% |
| Regional Average | $517,000-$555,000 | $3,300-$3,470/m² | +3.7% |
| Budget Areas (George Town) | $362,000 | $2,413/m² | +3.5% |
| Premium (Sandy Bay) | $1.4M+ | $7,000+/m² | +1.8% |
| West Coast Areas | $280,000-$350,000 | $2,000-$2,500/m² | +2.8% |
How does the price per square meter vary based on property size categories?
Smaller homes under 120 square meters typically cost $2,500-$6,000 per square meter to build, with higher resale rates per square meter in premium markets due to scarcity.
Average-sized homes around 175 square meters range from $2,500-$5,500 per square meter for new construction. These represent the sweet spot for most Tasmania buyers, offering balanced space and value.
Larger homes exceeding 250 square meters cost $2,250-$4,500 per square meter to build. While bulk construction can reduce some costs, premium finishings and complex designs often maintain higher per-square-meter rates.
The Tasmania market shows interesting dynamics where smaller properties in desirable locations can command premium per-square-meter rates, while larger homes in regional areas offer economies of scale. Property size significantly impacts both construction costs and resale values per square meter.
What does the total cost look like, including fees, taxes, and mortgage expenses?
The total cost per square meter increases significantly when including purchase fees, taxes, and financing costs beyond the base property price.
Stamp duty adds approximately 4-5% to the purchase price, plus legal and conveyancing fees of $1,500-$2,500. For a median $670,000 home, these costs add roughly $152 per square meter to the base price of $3,680.
Mortgage interest at current rates around 5.5% adds approximately $180-$240 per square meter annually in first-year costs. This brings the total first-year cost including purchase fees to around $4,000-$4,200 per square meter.
Over the life of a 30-year mortgage, total interest costs can effectively double the per-square-meter price, making the true cost of ownership significantly higher than the initial purchase price. Smart buyers factor these ongoing costs into their per-square-meter calculations when evaluating Tasmania properties.
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What would be the average cost per square meter for buying to live in versus renting out?
Buying to live in Tasmania costs approximately $3,700-$4,000 per square meter after including all purchase costs and initial setup fees.
For long-term rental investment, properties generate $145-$200 per square meter annually in rental income. A typical 3-bedroom house in Hobart or Launceston yields $500-$650 weekly rent, translating to $2.80-$3.85 per square meter per week.
Short-term rental operations through Airbnb can achieve 2-3 times higher yields in prime locations, but require higher management costs and face occupancy fluctuations. Premium areas near tourist attractions command the best short-term rental rates per square meter.
The Tasmania rental market favors long-term stability over short-term gains, with consistent demand from local tenants providing reliable income streams. Investors should target properties around $3,000-$4,000 per square meter for optimal rent-to-price ratios.
What are the current average purchase prices per square meter in areas with strong resale potential?
Sandy Bay and Battery Point lead resale potential with current prices exceeding $7,000 per square meter for established homes.
Strong resale suburbs in Hobart including Mt Nelson and Battery Point range from $4,500-$7,143 per square meter. These areas benefit from proximity to the city center, harbor views, and established infrastructure.
Up-and-coming areas in the North West including Burnie and Devonport offer excellent resale potential at $3,500-$4,500 per square meter. These regions are positioned for infrastructure upgrades and population growth.
Regional areas with development potential trade between $3,000-$4,000 per square meter, offering capital growth opportunities for patient investors. Focus on properties near planned infrastructure or employment hubs for maximum resale appreciation.
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What are example purchase prices per square meter for typical properties today?
| Area | House Price | Size (m²) | Price per m² |
|---|---|---|---|
| Battery Point | $1,500,000 | 210 | $7,143 |
| Hobart City | $735,000 | 175 | $4,200 |
| Launceston | $570,000 | 165 | $3,455 |
| Devonport | $500,000 | 150 | $3,333 |
| George Town | $362,000 | 150 | $2,413 |
| Burnie | $425,000 | 140 | $3,036 |
| West Coast Rural | $280,000 | 160 | $1,750 |
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Which areas currently have the highest, up-and-coming, and most budget-friendly prices per square meter?
The highest prices per square meter concentrate in Hobart's premium suburbs, led by Sandy Bay and Battery Point exceeding $7,000 per square meter.
Up-and-coming areas offer the best growth potential at moderate prices:
- North West coastal towns (Burnie, Devonport) at $3,000-$3,500 per square meter
- Outer Hobart suburbs positioned for infrastructure development
- Launceston growth corridors with new housing estates
- Regional centers near planned transport upgrades
- Areas benefiting from remote work population shifts
Budget-friendly options provide entry-level opportunities:
- George Town and outer regional centers under $2,500 per square meter
- West Coast areas including Zeehan and Strahan
- Rural properties with development potential
- Older suburbs requiring renovation in major cities
- Industrial-adjacent areas transitioning to residential
The Tasmania market rewards strategic location selection, with significant price variations per square meter creating opportunities across all budget levels.
What are the smartest choices today by price per square meter for different investment goals?
For owner-occupiers, target higher-value regions like Hobart and Launceston at $3,500-$4,500 per square meter for lifestyle amenities and resale security.
Rental investment strategies should focus on properties in the $3,000-$4,000 per square meter range in inner suburbs near universities, hospitals, and employment centers. These areas provide optimal rent-to-price ratios and tenant demand stability.
Property flipping opportunities exist in up-and-coming North West regions at $3,000 per square meter, where infrastructure improvements and population growth drive capital appreciation. Focus on properties with renovation potential to maximize value-add strategies.
Long-term wealth building favors established suburbs with proven growth histories, even at higher per-square-meter entry costs. Premium areas around $4,500-$6,000 per square meter offer consistent appreciation and strong rental demand.
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How have prices per square meter changed from five years ago and one year ago?
Tasmania property prices per square meter have experienced substantial growth over the past five years, with regional areas leading the charge.
Regional Tasmania prices per square meter increased 58% since 2020, while Hobart grew 32% over the same period. This dramatic growth reflects increased demand from interstate migrants and lifestyle changes accelerated by remote work trends.
In the past year alone, state average prices per square meter rose 3.2-3.6%, with regional areas up 3.3% and Hobart growing 2.6%. Launceston showed particularly strong growth at 4.8% annually, indicating continued demand in secondary cities.
The Tasmania property market has outperformed many mainland markets in percentage terms, though from a lower base. This growth trajectory positions Tasmania as one of Australia's strongest performing regional property markets on a per-square-meter basis.
What are realistic forecasts for average price per square meter over the next decade?
Tasmania property prices per square meter are forecast to grow 2-4% annually through 2030, according to major market analysts.
Short-term forecasts for 2026 predict continued steady growth around 3% per year, driven by ongoing interstate migration and infrastructure development. The North West regions may outperform this average due to planned transport upgrades.
Five-year projections suggest Tasmania prices per square meter will reach $4,200-$4,500 by 2030 for the state average. Premium areas like Hobart may approach $5,000-$5,500 per square meter, while regional areas could reach $3,800-$4,200.
Ten-year forecasts indicate Tasmania will maintain its value proposition compared to mainland capitals. While absolute prices will rise, the per-square-meter gap with Sydney, Melbourne, and Brisbane should persist, keeping Tasmania attractive for affordability-focused buyers and investors seeking regional growth opportunities.
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 exceptional value at current per-square-meter rates, with significant regional variations creating opportunities for diverse investment strategies.
Whether targeting premium Hobart suburbs above $4,000 per square meter or budget-friendly regional areas under $3,000, Tasmania provides compelling options for both investors and owner-occupiers seeking Australian property exposure.
Sources
- Platinum Pro Construction - Tasmania Build Costs
- RealEstate.com.au - House Building Costs
- RealEstate.com.au - Tasmania Specific Costs
- BambooRoutes - Average House Prices Tasmania
- BambooRoutes - Tasmania Price Forecasts
- Deltos Finance - Tasmania 2025 Projections
- RealEstate.com.au - Regional Value Growth
- OpenAgent - Best Tasmania Property Areas