Rise in Tassie house prices, sales

TASMANIAN house prices and sales volumes have increased during the past year, but there are differences across the state.

Figures released by the Real Estate Institute of Tasmania yesterday show that house prices increased by 8.8 per cent in the December quarter, to give a 1.6 per cent increase for the year.

Last year, three of the four quarters recorded decreases. The median house price is now $310,000.

The number of house sales increased across the state by 1.2 per cent for the December quarter, to give a 0.2 per cent increase for the year.

In Launceston, house prices increased during the quarter by 3.8 per cent, to give a median price of $275,000.

In the North-West, prices were up by 0.9 per cent for the quarter, to give a median price of $232,000.

The number of houses sold during the December quarter compared with the previous quarter in Launceston was steady (at 240 for the quarter), while sales increased by 12.7 per cent last year compared with 2011. For 2012, there were 912 houses sold in Launceston.

In the North-West, there was an 11 per cent decrease in sales during the December quarter compared with the previous quarter (with 97 sales in the December quarter).

In Hobart, there were 460 sales in the December quarter, which was a 17 per cent increase on the previous quarter.

Hobart house prices increased by 7.4 per cent for the quarter, to give a median house price of $365,000.

Institute president Adrian Kelly said last year ended on a positive note for the property industry, which would hopefully continue this year.

"Second-time buyers are still dominating Tasmania's property market, accounting for 60 per cent of house sales at a median price of $329,000," Mr Kelly said.

"The report also revealed a slight reduction in first home buyers for the quarter, accounting for 16 per cent of house sales across the state at a median house price of $245,000."

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