Tasmania property market best in five years

The property market is picking up.

Well after a long quiet spell, things are starting to pick up. The below excerpt is from an interesting press release from the Real Estate Institute of Tasmania as posted by the ABC recently.

"Tasmania property market best in five years, with Hobart prices jumping 8 per cent.

 

The Real Estate Institute of Tasmania (REIT) expects property prices to keep rising, after the local market experienced its best year in five years.

 

The market still has not recovered from the global financial crisis, with prices 40 per cent lower than they were a decade ago.

 

But, industry figures see the market growth as sustainable."

 

Launceston usually follows Hobarts trend. From other sources I study, we should see a stronger market til a mid cycle down-turn around 2019 then picking up again around 2025/2026.

 

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