Hobart price correction coming

July 29, 2022 2:08 am in by

Domain’s latest House Price report for the three months to the end of June found Hobart’s median rising nearly 1% to $766,000.

That is growth of 21% for the financial year.

However, the report states there is mounting evidence the property upswing is losing momentum.

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Director of Economic Research at PropTrack, Cameron Kusher agrees.

“So prices in Hobart are still rising but the rate of price growth is definitely slowing, we’re expecting that by the end of this year prices will fall between 1% and 4% and then next year we’re looking at declines of around 7% to 10%, but prices will still be higher in Hobart than they were at the start of the pandemic.”