Tasmania's hot property market is forcing buyers like Georgia to take risks to buy a home

Over the past 12 months, house prices have grown by 8.7 per cent in Hobart and 13.8 per cent in regional Tasmania

"It's pretty tough. The kind of houses we're looking for, the areas that we're looking at, they're just selling really quickly. It's really cutthroat," Ms Heiniger said. Ms Heiniger and her partner have felt pressure to take risks to make their offers more competitive, by foregoing building inspections, or making cash offers, even though they need to borrow money.

In February this year, median house prices in Hobart rose by 2.5 per cent, and in regional Tasmania the growth was 2.7 per cent. He said uncertainty was discouraging homeowners from selling, leading to a nearly one-third drop in homes on the market compared with the same time last year. "I think the last 12 properties that we've secured have all been multiple-offer scenarios, anything from three or four offers right through to 18," Ms Rankin said.

"I was really struck by the absence of what most states have come to regard as normal for a couple of decades," she aid.Property law expert Patricia Lane says Tasmania has fewer legal protections for home buyers than most other Australian states and territories. This means the onus is on buyers to take on the risk of potential problems with the property and conduct research to identify them, without legal recourse against the person selling the home.Residential property auctions are rare in Tasmania, with most sales happening through private treaties using the standard offer contract developed by the Law Society of Tasmania.

Jasmine Rankin said her clients are feeling pressure to waive optional buyer protections to secure homes.

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