TAS Hobart real estate is 'hottest in Australia'

It is in Lutana.

 

Just 22% more?

 

Hey Radson

That really is a negative result and doesn't really reflect what is happening on the ground ... Everyone knows that Tasmania is a Sh...thole , on the wrong side of the planet and they can't even make good whiskey

Donald

 

@ see change . More negative results from todays employment figures

The only increase in the seasonally adjusted unemployment rate was in Victoria (up 0.5 percentage points to 5.6 per cent). The largest decrease was in Tasmania (down 0.7 percentage points to 5.8 per cent) followed by Queensland (down 0.3 percentage points to 5.9 per cent).

6202.0 - Labour Force, Australia, Jun 2018

 

Nice location.

 

Is it sustainable though?...is there ongoing population growth and job growth in Hobart?
I thought it was a bit of a sleepy hollow with a few retirees from the Mainland moving there every now and then? It seems to me that it might be a bit of a boom fuelled by cashflow investors?, and once the cash flows start to look bad and the capital growth stops; the investors disappear.

 

Wrong , the property boom has been fueled by the strength in the economy , hence why Tasmania is booming before Brisbane . Normally the other way around .

Cliff

 

Tasmania is strongest on the relative population measure, with its 0.94 per cent annual population growth rate almost 65 per cent above the decade-average rate.

Interestingly Tasmania has the fastest annual pace of economic growth, up by 7.5 per cent on a year ago, ahead of Victoria (up 6.4 per cent) from South Australia (up 5.6 per cent) and NSW (up 5.1 per cent).

https://www.commsec.com.au/content/...2018/CommSec_State_of_the_States_July2018.pdf

 

Cliff I can definitely say that you did predict this I remember about 2 1/2 years ago at least you were really saying you thought Tasmania was going to boom

 

My Biggest frustration is we have more in Brisbane than Tassie ...

Cliff

 

I am ready for a Brisbane boom, when will it be coming Sea change ? I felt it's ready for it within a year or two if the current trends endures. When it starts it would be more than 10% growth pa as fomo would certainly set in.

 

WHen it happens , it happens . According to people on the ground , the inner ring is moving with the middle ring starting to tick over . Outer ring is still quiet .
clff

 

Went down to Hobart last weekend for a four day long weekend . Very impressed , first thing that stuck me was the five cranes in the skyline . I know there were none around 18 months ago .

Lots of good restaurants , lots of people going out at night , Mona was crowded and I really enjoyed it , Passed many groups of asian tourists there and around the city .

Local agents still positive , not much stock on the market .

I know a forumite recently sold a property and it was gone within hours .

BTW , not a big whiskey drinker , but thought we should check out sullivan cove . Really nice single cask , though at over $400 a bottle a little steep for a non whiskey drinker , but that didn't stop the whiskey junkies on our tour buying ... Cellar door is one of the few places you can get it . Winner at the world whiskey awards for the last two years .

Cliff

 

Good to hear positive things happening in Hobart.

$400 Whoa must be very good

 

Cranes? Possibly UTAS extensions

 

I believe Tassie peaking from my research??

No idea??

 

What makes you think the market is peaking? How much % growth do you expect in the next 2 years in Hobart?

 

In

Interesting fact I heard last week "every 27th house in Hobart is an Airbnb.

 

Snippets from thet latest commsec state of the states.

https://www.commsec.com.au/content/...8/CommSec_State_of_the_States_October2018.pdf

Tasmania is strongest on the relative population measure, with its 1.02 per cent annual population growth rate almost 78 per cent above the decade-average rate.

Tasmania is strongest on the pace of economic growth. Tasmania’s economy grew by 7.1 per cent over the year to June, ahead of Victoria (up 5.9 per cent), South Australia (up 5.6 per cent) and Queensland (up 4.8 per cent).

Notably, equipment investment in Tasmania was at 9-year highs in trend terms with Victoria at 7-year highs and Western Australian investment at 3½-year highs.