Locals snap up Tasmanian real estate as market continues to soar

There appears to be no sign of the Tasmanian real estate market slowing down, with the state recording its strongest growth since 2002.Median house prices increased across all regions but in the north-west jumped 28.5 per centData from the Real Estate Institute of Tasmania's quarterly report shows sales are up 14.4 per cent on last year, with a massive 32 per cent jump in value.

"The median sale price in Launceston is currently $420,000, median sale price on the north-west coast is $379,000, so that gap is slowly closing."The price rise in the north-west is attributed to a couple of factors.The region is also seeing some of the best yields for rental properties."It's a very pretty area, a beautiful part of Tasmania, so it's no real surprise that this has happened," she said.

Who pays for this boom? Its not the entrepeneurs enjoying the capital gains, its the kids and workers who work and pay and pay and pay.

Appalling- what about the locals on low incomes?

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