Welcome to the hottest holiday home market in Australia

A pocket of Tasmania’s east coast has recorded the largest jump in house prices of any regional council area.

The median house price skyrocketed 65.6 per cent to $828,000 over the year to June, Domain data shows, increasing by $328,000. That compares to a 21 per cent price hike in Hobart. The proportion of tenants putting more than 30 per cent of income towards rent more than quadrupled in that time, hitting 31.7 per cent.

But there’s no simple solution. Young said any limits or higher taxes on short-term rentals would need to be carefully considered, given some 50 per cent of the municipality’s income was from tourism. KPMG demographer and urban economist Terry Rawnsley said Tasmania’s housing market had grown as the state made a name for itself with its food and wine scene, MONA and Dark Mofo.With limited housing supply, it did not take much population growth to soak up the available homes and put pressure on prices.“You would have fed the market. But [now] you’re playing catch up.”

Too cold most of the year.

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