Property auction sales up in Tasmania

Updated October 31 2012 - 3:03pm, first published June 26 2009 - 3:29am

PROPERTY sales statistics for Tasmania last month show a big increase in auction sales as overall sales dropped by 1.1 per cent.The Real Estate Institute of Tasmania's May Property Report shows the number of houses sold had decreased from April but recorded a 43.4 per cent increase in comparison to May last year."The statewide median house price for Tasmania in May was $280,000, resulting in a recorded 1.8 per cent drop for the month but remaining steady on the same time last year," REIT president Peter Bushby said in a media statement.Launcestons median sale price for houses fell from May last year to $255,550, a decrease of 6 per cent on the previous month.The report also showed that in Launceston, 109 houses were sold during the month of May.The northern suburbs of East Launceston/Norwood were popular recording a 10.2 per increase in sales for the month, with the suburbs of Newnham/Mowbray also recording an increase of 18 per cent for the year.Mr Bushby said First Home Buyers accounted for around a third of statewide house sales duringthe month."This is an increase of 4.3 per cent on the previous month and an 12.3 per cent increase on the same time last year," he said.The report also highlighted a notable increase in properties that either sold before or at auction during the month.May recorded 39 properties sold at auction, or 4 per cent of sales, the highest result since January 2007."The north of Tasmania attributed to 15 per cent of property auctions across the State," Mr Bushby said."The May property report also revealed the statewide vacancy rate for May increased by .2 percent for the month."

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