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Hobart's property market has stabilized after its dramatic boom period, with median house prices reaching $714,691 and apartments at $552,352 as of September 2025. The Tasmanian capital remains Australia's most affordable mainland capital city, offering significant value compared to Sydney and Melbourne while delivering steady growth potential across diverse neighborhoods from budget-friendly Brighton to premium Sandy Bay.
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Hobart's median property price sits at $673,393 across all dwelling types, with houses averaging $714,691 and units at $552,352 as of September 2025.
The market shows steady but modest growth after its 2015-2022 boom, with budget-friendly suburbs starting around $500,000 and premium areas reaching $1.3 million.
| Property Type | Median Price | Annual Growth |
|---|---|---|
| Houses | $714,691 | +2.2% |
| Apartments/Units | $552,352 | +0.4% |
| All Dwellings | $673,393 | +1.8% |
| Suburb Category | Price Range | Examples |
| Budget-Friendly | $500,000-$560,000 | Brighton, Glenorchy, Claremont |
| Mid-Range | $628,000-$841,000 | Moonah, Kingston, Bellerive |
| Premium | $978,000-$1.3M | North Hobart, Sandy Bay, West Hobart |
What's the average current price of a property in Hobart overall?
Hobart's property market shows a median price of $673,393 across all dwelling types as of September 2025.
Houses command a median price of $714,691, representing the majority of sales in the Hobart market. This figure reflects steady growth of 2.2% over the past year, indicating a stabilized market after the significant boom period between 2015 and 2022.
Apartments and units trade at a median of $552,352, showing more modest growth at just 0.4% annually. The unit market has remained relatively flat compared to houses, making apartments an attractive entry point for first-time buyers or investors seeking lower capital requirements.
These figures position Hobart as Australia's most affordable mainland capital city, significantly below Sydney's $1.4 million median and Melbourne's $1.1 million median. The city offers genuine value for money while still providing capital city amenities and lifestyle benefits.
How do average prices vary by property type—houses, apartments, townhouses, etc.?
Property type significantly impacts pricing in Hobart's market, with clear distinctions between dwelling categories.
| Property Type | Median Price | Annual Change |
|---|---|---|
| Houses | $714,691 | +2.2% |
| Units/Apartments | $552,352 | +0.4% |
| Townhouses | $550,000-$570,000 | ~+0.8% |
| New Builds (Houses) | $800,000-$950,000 | +3.1% |
| Established Houses | $700,000-$730,000 | +2.0% |
| Luxury Properties | $1.2M-$1.5M+ | +1.5% |
| Investment Units | $480,000-$580,000 | +0.2% |
What are the average property prices across different suburbs or neighborhoods in Hobart?
Hobart's suburb pricing shows dramatic variation based on location, amenities, and proximity to the city center.
Premium suburbs command the highest prices, with Sandy Bay leading at $1.2-$1.3 million for houses due to its prestigious waterfront location and proximity to the University of Tasmania. West Hobart follows closely at around $1 million, offering heritage charm and easy city access.
Mid-range suburbs provide excellent value for families and investors. Bellerive averages $841,250 for houses, offering eastern shore lifestyle with ferry connections to the city. Kingston sits around $740,000-$800,000, popular for its family-friendly environment and growing infrastructure.
Budget-conscious buyers find opportunity in outer suburbs. Brighton offers houses around $552,500, providing affordable entry with strong rental demand from students and young professionals. Glenorchy averages $530,000, benefiting from major urban renewal projects and improved transport links.
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What's the typical price per square meter in Hobart, and how does that change by area or type?
Hobart's price per square meter varies significantly between new builds and established properties, as well as by location.
New construction commands $3,100-$6,000 per square meter for houses, depending on location, specifications, and builder quality. Premium locations like Sandy Bay and Battery Point reach the upper end of this range, while outer suburbs like Brighton and Glenorchy sit at the lower end.
Established properties in central and prime areas average $5,000-$7,000 per square meter. These areas benefit from established infrastructure, heritage character, and proximity to amenities. Battery Point and Sandy Bay consistently achieve the highest per-square-meter values due to their prestigious locations and limited supply.
Outer and more affordable suburbs typically range from $3,000-$4,000 per square meter for established dwellings. These areas offer better value for money while still providing good access to employment centers and essential services.
Apartments generally command higher per-square-meter prices than houses due to their smaller footprint and central locations, often ranging from $6,000-$8,500 per square meter in desirable areas.
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What's the total cost of buying a property in Hobart once you include fees, taxes, and other closing costs?
Purchasing property in Hobart involves significant additional costs beyond the property price that buyers must factor into their budget.
Government transfer (stamp) duty represents the largest additional cost. On a $700,000 property, buyers face approximately $25,000-$27,000 in stamp duty. Tasmania's stamp duty rates are progressive, meaning higher-value properties face proportionally higher costs.
Professional and administrative fees add another layer of expenses. Legal and conveyancing services typically cost $1,500-$2,500, while building and pest inspections range from $600-$1,000. Mortgage registration fees around $212 and loan application fees up to $600 complete the standard costs.
Lenders mortgage insurance (LMI) applies when borrowing more than 80% of the property value, potentially adding thousands to the purchase cost. This insurance protects the lender but is paid by the borrower.
For a typical $700,000 Hobart property, buyers should budget an additional $28,000-$31,000 in upfront costs excluding the deposit. This brings the total cash requirement to approximately $168,000-$171,000 for a 20% deposit scenario.
What financing or mortgage costs should I expect today when purchasing property in Hobart?
Current mortgage conditions in Hobart reflect broader Australian lending market trends, with interest rates stabilizing after recent increases.
The average new home loan size across Australia sits at $659,922, closely aligning with Hobart's median property prices. This suggests most buyers require substantial borrowing to enter the market.
Typical variable interest rates currently hover around 6.0% per annum for owner-occupiers with good credit profiles. Investment property loans typically carry rates 0.3-0.5% higher than owner-occupier rates.
Monthly repayments on a $660,000 loan over 30 years at 6.0% interest amount to approximately $3,957. This represents a significant ongoing financial commitment that buyers must carefully assess against their income and other expenses.
Fixed-rate options provide certainty but often carry slightly higher initial rates. Many borrowers choose split loans, combining fixed and variable portions to balance security and flexibility in their repayment strategy.
How have property prices in Hobart changed over the past five years compared to one year ago?
Hobart experienced one of Australia's most dramatic property booms between 2015 and 2022, followed by market stabilization in recent years.
Over the past five years, house prices increased by 55.4% in suburbs like Brighton, with some hotspots like Dodges Ferry experiencing growth up to 83%. This exceptional growth period transformed Hobart from Australia's most affordable capital to a moderately priced market.
Recent annual growth has moderated significantly compared to the boom years. Houses increased by 2.1% to 6.5% depending on the suburb over the past year, while units remained relatively flat with growth of just 0.08%.
The dramatic slowdown reflects broader Australian market conditions, including higher interest rates, reduced interstate migration to Tasmania, and improved affordability in competing markets. This stabilization provides a more sustainable foundation for future growth.
Current growth rates suggest the market has matured, offering more predictable returns for investors and improved affordability for local buyers compared to the volatile boom period.
What do forecasts suggest for Hobart property prices over the next 1 year, 5 years, and 10 years?
Property price forecasts for Hobart indicate continued but modest growth as the market stabilizes after its dramatic boom period.
Over the next 12 months, experts predict low-to-mid single-digit growth between 0-6%, reflecting conservative market conditions. Interest rate movements and interstate migration patterns will significantly influence actual outcomes.
Five-year projections suggest affordable suburbs could see 40-85% growth if historical trends continue, though most analysts expect more moderate gains. Economic conditions, population growth, and infrastructure development will determine whether these optimistic scenarios materialize.
Long-term forecasts to 2030 project median Hobart house prices reaching $950,000-$1 million if current growth trajectories persist. However, these projections carry significant uncertainty given changing economic conditions and policy environments.
Conservative analysts favor more modest growth expectations, citing Tasmania's limited population growth potential and competition from other affordable Australian markets. Realistic expectations center on steady appreciation rather than explosive growth.
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Which areas or property types are considered most budget-friendly, upcoming (with growth potential), and most expensive right now?
Hobart's property market offers distinct opportunities across different price segments and growth trajectories.
| Category | Suburbs/Types | Price Range |
|---|---|---|
| Budget-Friendly | Brighton, Glenorchy, Claremont | $500,000-$560,000 |
| Growth Potential | Dodges Ferry, Kingston, North Hobart | $675,000-$978,000 |
| Premium/Expensive | Sandy Bay, Battery Point, West Hobart | $1.0M-$1.3M |
| Investment Focus | Moonah, New Town, South Hobart | $580,000-$750,000 |
| Family-Friendly | Kingston, Bellerive, Lindisfarne | $740,000-$850,000 |
| Emerging Markets | Rosny, Montrose, Austins Ferry | $620,000-$720,000 |
| Luxury Waterfront | Sandy Bay, Battery Point, Taroona | $1.5M+ |
If someone wants to live in the property versus rent it out short-term or long-term, what are the best choices in Hobart?
Investment strategy significantly influences optimal suburb and property type selection in Hobart's diverse market.
For owner-occupiers prioritizing lifestyle, family suburbs like Kingston, West Hobart, and Bellerive offer excellent amenities, school access, and infrastructure. These areas provide strong community feel while maintaining reasonable proximity to employment centers and recreational facilities.
Long-term rental investors should focus on Moonah, Glenorchy, and Brighton, which generate rental yields around 4.0% while maintaining strong tenant demand. These suburbs benefit from low vacancy rates and consistent rental growth driven by student populations and young professionals.
Short-term rental (Airbnb) opportunities perform best in premium and central locations. Sandy Bay, Battery Point, and North Hobart attract tourists and business travelers willing to pay premium rates for location and amenities.
Cost comparison analysis reveals that mortgage repayments typically exceed rental costs for houses, making renting more economical short-term. However, for units, mortgage repayments with a 20% deposit often approximate rental costs, making ownership more attractive for apartment buyers.
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What would be a realistic example purchase price today for a typical property in a mid-range suburb?
A practical example illustrates the total investment required for a mid-range Hobart property purchase.
Consider purchasing a 3-bedroom house in Kingston or Bellerive, both popular family-friendly suburbs with good amenities and infrastructure. The property price would range from $740,000 to $800,000 based on current market conditions.
Stamp duty and associated fees add approximately $28,000-$31,000 to the purchase cost. This includes government transfer duty, legal fees, inspections, and loan establishment costs.
The total upfront investment excluding deposit ranges from $768,000 to $831,000. With a 20% deposit, buyers need $153,600-$166,200 cash plus the additional costs, bringing total cash requirements to approximately $181,600-$197,200.
Monthly mortgage repayments on the remaining loan amount at 6.0% interest over 30 years would range from $3,600-$3,900, representing a significant ongoing financial commitment requiring careful income assessment and budgeting.
How do Hobart's average property prices compare with those in other similar Australian cities like Adelaide or Newcastle?
Hobart maintains its position as one of Australia's most affordable capital cities when compared to similar markets.
| City | Median House Price | Median Unit Price |
|---|---|---|
| Hobart | $714,691 | $552,352 |
| Adelaide | $895,726 | $611,471 |
| Newcastle | ~$865,000 | ~$650,000 |
| Gold Coast | ~$920,000 | ~$680,000 |
| Canberra | ~$1,100,000 | ~$750,000 |
| Darwin | ~$650,000 | ~$480,000 |
| Regional QLD | ~$580,000 | ~$420,000 |
Hobart offers significant value compared to Adelaide and Newcastle for both houses and units, though the gap has narrowed since Hobart's recent boom period. The city provides capital city amenities at provincial pricing, making it attractive for lifestyle seekers and value-conscious investors.
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.
Hobart's property market presents compelling opportunities for both owner-occupiers and investors seeking affordable capital city exposure.
With median prices significantly below other Australian capitals and steady growth prospects, the city offers genuine value while maintaining strong lifestyle appeal and investment fundamentals.
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Sources
- Your Mortgage - Median House Prices Around Australia
- Property Update - Latest Median Property Prices
- Domain - House Price Report March 2025
- Open Agent - Best Suburbs to Invest Hobart
- BambooRoutes - Hobart Property Forecast
- Mortgage Choice - Cost to Build House Hobart
- Unconditional Finance - Stamp Duty Tasmania
- Money.com.au - Home Loan Statistics
- Housing ID - Hobart Housing Market
- Pulse Tasmania - Hobart House Prices