6/6 Australia’s Property Market All About The Rate Hikes ~ Tasmania
We conclude with the Tasmanian property market.
Despite strong economic conditions, property values in most locations across Tasmania experienced a slight decline in the fourth quarter. This is attributed to “buyer fatigue” after an extended growth cycle, particularly in Hobart.
The decline in property values coincided with the start of the interest rate cycle in May 2022. While there is no evidence of distressed sales or oversupply, listed properties are taking longer to sell, indicating a slower market. However, the volume of properties listed for sale is comparable to five years ago when the population was smaller, suggesting the slowdown is not due to excessive supply.
We hope you found this analysis of the Australian property markets after the rate hikes informative.
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