Hobart house prices to rise 3pc
Hobart house prices are set to grow by between 0 per cent and 3 per cent in 2012, according to Australian Property Monitors (APM).
Strong economic grow brought on by the mining boom and renewed consumer confidence will revive a number of markets across the nation including modest growth for Hobart, APM senior economist Dr Andrew Wilson said.
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“Hobart’s housing market has retreated in 2011 with median house prices down by just over 3 per cent for the year,” Mr Wilson said.
“Although this is a reasonable performance compared to some of the other capitals, a revival in buyer activity in 2012 is heavily dependent on a lift in the local economy,” he said.
“With no direct exposure to the resource sector, the Tasmanian economy is set to continue to meander in 2012. As a consequence buyer confidence will remain subdued and house price growth will be flat for most of 2012."
