Prices in Hobart have remained in a downturn for the past 27 months, and the PropTrack Home Price Index Report for June 2024^ shows values fell by a further 0.21% in June. The median home value of $671,000 is now 2.06% below the levels seen this time last year.
Hobart remains the weakest capital city market when comparing annual price growth (down 2.06%), as well as the change from peak (down 9.56%). Despite this, home prices in Hobart are still up 34.2% since March 2020 following a period of outperformance during the pandemic as well as robust growth in the years preceding.
In regional Tasmania, home values were down 0.22% in June, though 2.22% higher over the past 12 months. The median dwelling value outside of Hobart is $502,000.
^ https://www.proptrack.com.au/home-price-index/
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