Tasmania’s Property Market Is Changing – What you need to know!

The Tassie Property Scene is Shifting—Again!

The Tasmania real estate market never stays still for long! Whether you’re thinking of buying, selling, or investing, it’s important to understand the latest trends so you can make the best move. At 4one4 Property Co., we keep our finger on the pulse, so you don’t have to. Let’s dive into what the Tasmania 2025 real estate market has in store.

Our Little Island’s Economic Outlook

There’s no sugarcoating it—Tasmania’s economy is facing a few bumps in the road. The Deloitte Business Outlook is forecasting a 1.1% decline in gross state product for 2024/25, making Tassie the only state in Australia expecting negative growth. A mix of slow population growth, a low birth rate, and more cautious household spending has contributed to this downturn. Housing construction is also falling behind, with Tasmania missing its quarterly home-building target by 600 houses.

But here’s the silver lining—Tasmania has a history of bouncing back stronger. The property market has proven to be resilient, and while challenges exist, they also bring opportunities. Sellers who position their homes well can still attract great buyers, and for buyers, shifting market conditions mean the chance to negotiate better deals. With interest rate cuts on the horizon, confidence is likely to return sooner rather than later.

Population & Market Dynamics

Tasmania’s population was estimated at 575,366 as of June 30, 2024, with growth slowing to just 0.28%—the lowest of all Australian states. A small net interstate migration outflow and natural increase of just 61 people mean that demand may ease in certain pockets of the market.

However, lifestyle appeal remains a major drawcard for those relocating from the mainland. With Tasmania offering a relaxed way of life, lower-density living, and relative affordability compared to Sydney or Melbourne, we expect continued interest from buyers seeking a lifestyle change.

Hobart’s Market on the Rise

Despite economic fluctuations, Hobart’s property market is still performing well. The median house price has surged to $940,000, an 11% year-on-year increase. High-end areas like Sandy Bay now have median prices exceeding $1.4 million, while growth suburbs like Glenorchy, Moonah, and Brighton continue to attract strong interest due to their affordability, improving infrastructure, and lifestyle appeal.

Glenorchy, Moonah & Brighton – The Suburbs to Watch

• Glenorchy: With a median house price of $612,500, Glenorchy remains one of the most in-demand areas due to its affordability and strong rental returns. Infrastructure improvements and local developments continue to drive interest from first-home buyers and investors alike.
• Moonah: A growing cultural and lifestyle hub, Moonah has a median house price of $613,500. It boasts a thriving café scene, excellent public transport options, and increasing gentrification, making it a hotspot for young professionals and families.
• Brighton: One of Tasmania’s fastest-growing suburbs, Brighton is experiencing significant demand due to its affordability, family-friendly community, and new housing developments. With a median house price of $565,000, it remains an attractive option for both investors and owner-occupiers.

Property Prices & Market Trends

Talks of interest rate cuts in early 2025 could provide a much-needed boost to confidence in the market. If borrowing costs decrease, we could see more buyers stepping back in, particularly those who have been waiting on the sidelines.

One key challenge remains—housing supply. Tasmania is significantly underperforming on its construction goals, which means demand for existing homes is unlikely to slow dramatically. For sellers, this means there’s still an advantage, especially for well-presented properties in sought-after suburbs.

Days on Market (DOM) in 2025

Selling timelines are shifting depending on location and price point:

• Hobart properties are selling faster, with an average of 19 days on market, down from 32 days in 2023.
• In some areas, the median DOM has increased slightly to 33 days, reflecting a more balanced market where buyers have time to consider their options.
• Certain properties are taking 52 days to sell—meaning that strategy, marketing, and presentation are more important than ever.

What This Means for Buyers & Sellers

For Sellers: The market is shifting, and pricing your home correctly is crucial. Gone are the days of quick sales at any price—buyers are taking their time and doing their research. But don’t worry, the demand is still there. With expert marketing, standout presentation, and the right pricing strategy, you can still achieve a fantastic result. That’s where we come in.

• Price it Right: Competitive pricing is key in a shifting market—overpricing can turn buyers away.
• Presentation Matters: Well-staged and well-maintained homes attract more interest and sell faster.
• Strategic Marketing: High-quality photography, targeted ads, and digital staging help your property stand out.
• Work with Experts: Partnering with experienced agents ensures you maximize your return with data-driven strategies.
  Gone are the days of quick sales at any price—buyers are taking their time and doing their research. But don’t worry, the demand is still there. With expert marketing, standout presentation, and the right pricing strategy, you can still achieve a fantastic result. That’s where we come in.

For Buyers: If you’ve been sitting on the sidelines waiting for the right moment, this could be your year. With more properties hitting the market and potential interest rate cuts on the way, 2025 presents some excellent buying opportunities. Whether you’re looking for an affordable home near Hobart, a long-term investment with growth potential, or a family-friendly community, now is the time to explore your options.

• Watch for Interest Rate Cuts: Lower rates could improve affordability and borrowing power.
• More Choice, Better Deals: Increased listings mean more negotiation power for buyers.
• Invest for Growth: Suburbs like Glenorchy, Moonah, and Brighton are still primed for long-term value.
• Get Pre-Approved: Securing financing in advance can give you an edge in negotiations.
  With more properties hitting the market and potential interest rate cuts on the way, 2025 presents some excellent buying opportunities. Whether you’re looking for an affordable home near Hobart, a long-term investment with growth potential, or a family-friendly community, now is the time to explore your options.

4one4’s Cutting-Edge Approach

At 4one4 Property Co., we do things differently. Our 4one4 Media House gives our clients a serious marketing advantage, offering:

✔️ Professional Photography & Videography—first impressions count, and we make sure your property shines.
✔️ Drone & Aerial Footage—highlighting your home’s location and lifestyle appeal.
✔️ 3D Tours & Digital Staging—letting buyers walk through your property anytime, anywhere.
✔️ Targeted Social Media Ads & AI-driven marketing strategies—ensuring your home reaches the right buyers quickly.

The Takeaway

Tasmania’s property market may be shifting, but that doesn’t mean the opportunities are disappearing—far from it. For those who stay informed and make strategic moves, 2025 could be a year of great potential. Buyers can take advantage of an evolving landscape, where increasing listings and potential interest rate cuts may create more favorable conditions. Meanwhile, sellers who present their properties well and work with experienced agents can still achieve strong results, particularly in high-demand areas like Hobart, Glenorchy, Moonah, and Brighton.

Navigating a changing market requires the right expertise, market knowledge, and innovative strategies. That’s where we come in. At 4one4 Property Co., we use cutting-edge marketing, data-driven insights, and local expertise to help our clients stay ahead of the game. Whether you’re looking to secure the best possible price for your property or find your next dream home, we’re here to guide you through every step with confidence.