The affordable and liveable property guide for Hobart Metro analysed all suburbs within a 10km radius of the Hobart CBD.
According to the report Warrne, Mornington and Clarendon Vale offer affordable and liveable options for prospective house buyers.
| Suburb | Median house price | Distance from CBD | Annual median price growth |
| Warrne | $462,625 | 5.1km | 15.7% |
| Mornington | $561,250 | 5.9km | 29.0% |
| Clarendon Vale | $435,000 | 9.4km | 52.6% |
If you're looking to buy a unit, the report found that Oakdowns, Bellerive and Kingston were the most affordable and liveable suburbs.
| Suburb | Median unit price | Distance from CBD | Annual median price growth |
| Oakdowns | $560,000 | 10km | 27.3% |
| Bellerive | $586,250 | 6.2km | 44.5% |
| Kingston | $535,000 | 10km | 16.7% |
According to the report, median property prices in Hobart Metro increased by 25.5% for houses to $828,500 from Q1 2020 to Q1 2022, and by 17.3% for units at $610,000.
The data shows between quarter-one 2021 – quarter-one 2022 total sales declined by -17.8% (to 415 sales) for houses and by -32.3% (to 151 sales) for units.
In comparison, between quarter-three 2020 – quarter-three 2021 Hobart Metro’s median price grew by 30.5% for houses and 43.5% for units.
"With the economy entering a new phase of a higher cash rate and less fiscal or government stimulus, there are opportunities for first home buyers," the report read.
"An estimated $972.8 million of projects are planned across the first half of 2022, with a main focus on residential.
"Market conditions continue to heavily favour vendors, as buyers must offer above the initial listing price.
"That said the average vendor premiums in quarter-one 2022 are lower than the past three quarters, which should provide some relief to buyers.
"The dominant proportion of homes sold in Hobart Metro across 2021/22 were in the premium price bracket of $900,000 and above (37.5%)."
Source: PRD
Rental market
In March 2022, Hobart Metro recorded a low vacancy rate of 0.3%, well below that of Sydney Metro (1.6%) and Melbourne Metro (1.9%).
Vacancy rates in Hobart Metro remained well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even throughout COVID-19.
According to the data, Hobart has a median rental price of $550 for houses, and $450 for units.
Hobart Metro’s vacancy rate continues to show a declining trend since April 2020, showcasing historical low trends in the past 24 months.
Source: PRD
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