Now she is one of the many thousands of Launceston residents with a mortgage who have welcomed yesterday's interest rate cut.

A rental property manager's assistant at Harcourts Launceston, Ms Chugg said she weighed into property ownership attracted by the relatively low house prices around the city.

She said she wanted to invest in something that would pay off in the future without too much initial financial strain, so snapped up a property for a low price but with the potential for a high return.

Ms Chugg said news of interest rates normally passed her unnoticed, but yesterday's 0.25 per cent cut piqued her interest.

``I never thought about it until today, but it means something to me now though,'' she said.

The interest rate cut comes a day after news of a 34.4 per cent growth in Launceston real estate sales over the past three months, where 222 homes sold in the greater region over the quarter.

More than half of these homes sold in the $200,000 to $300,000 price bracket.

Trevallyn was the most popular suburb for buyers with 24 homes sold, representing a 50 per cent sales boost over the quarter.

The lift took the suburb's median price up 13 per cent over the year to $322,500 - the region's highest.

Kings Meadows reported the highest median price growth at more than 40 per cent to $293,000, and achieved 16 sales.

The other high-selling suburbs were Riverside, with 22 sales and a $301,500 median price; South Launceston, with 17 sales and a $235,000 median; and Newnham, with 16 sales and a $295,000 median.