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State of Markets – TAS January 2012

02 JAN 2012 • By Phillip Tarrant • 3 min read • Hotspots

Essential information, plus expert insight on what is shaping the national property market...

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TASMANIA

Fast Figures

You’re out of free articles for this month
  • $281,000 – median house price, Moonah
  • $241,000 – median unit price, Moonah
  • 69% – five-year growth in units, Moonah

Tas confidence flagging, survey shows
A new survey has found that confidence in Tasmania’s property market is lower than in any other state or territory.

The inaugural Property Council/ANZ Property Industry Confidence Survey saw 55 per cent of September’s respondents expecting Tasmania’s economic growth to be weaker or significantly weaker in the future.

According to Property Council (Tasmania) executive director Mary Massina, “When compared to other states and territories, Tasmania’s confidence really has hit rock bottom.”

Ms Massina said the lack of confidence was encouraged by a lack of progress on key government reforms.

Over 67 per cent of survey respondents saw the state political environment as a significant influence on their investment decisions.

This was closely followed by domestic economic conditions (58.4 per cent) and the federal political environment (33.6 per cent) as influences.

“Tasmania’s political environment and weakening economic growth, combined with barriers such as planning, development decision making and general business conditions has had a lethal effect on the Tasmanian property industry’s confidence,” Ms Massina said.

“Despite the release of the state government’s Economic Development Plan, which was supposed to provide a clear strategy for economic growth, the property industry – Tasmania’s biggest private sector industry – isn’t feeling the love.”

Prices fall in Hobart
Hobart’s housing market has seen falling prices and this is unlikely to pick up, according to RP Data.

The latest RP Data/Rismark house price index showed Hobart dwelling prices fell by 9.1 per cent for the 2010/2011 year.

The decline in house prices has accelerated over the past three months, with Hobart dwelling prices down 5.8 per cent.

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RP Data’s head of research, Tim Lawless, said the key reasons for Hobart’s weak housing market included a low rate of migration and lack of job creation.

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Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

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