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Tasmania's housing market frenzy may be over, but prices still at an all-time high

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There are signs Tasmania's real estate market has started to soften, with the Real Estate Institute of Tasmania's March quarterly report indicating the number of property sales has dropped — but prices are still running hot.

Hobart property sales have fallen, both during the quarter and past year, and decreased 18 per cent and 8.9 per cent respectively.

Mr Petrusma said rising inflation and interest rates, the upcoming federal election, and international uncertainty had slowed the market in recent months.

 

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Has the interest rate rise broken Australia’s housing market fever?Prices remain high, but the days of frenzied auction bidding may be numbered with the recent interest rate hike and a slowing market Doubtful. Only thing that will break it is changing negative gearing forcing investors with 3+ houses to sell them. Otherwise its businesses as usual
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