House price surge in Meander Valley

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MEANDER Valley was yesterday one of five Tasmanian municipalities to punch above the state's June quarter housing price median, with an average of $315,000 a property.

The region was also among above-average sales for the quarter and joined other high median areas such as Hobart, at $490,000, Latrobe, at $334,000, Kingborough, at $408,000, and Clarence, at $358,000.

The Real Estate Institute of Tasmania statistics showed a statewide housing sale rise of 5.7 per cent for the year, up by 10.1 per cent from last year.

Launceston sales increased by 14.4 per cent this quarter, despite a 0.9 per cent drop in median prices — adding to a 3.7 per cent price decline for 2014.

The sales result is positive for Launceston, which pushed back from an 18.5 per cent decrease in the March quarter.

There was a 23 per cent increase in housing sales in Hobart, which experienced a 1.3 per cent median price decrease for the quarter.

Tasmania's overall house price increased by 2 per cent for the quarter, rising to $311,000, up by 4.2 per cent for the year.

REIT president Adrian Kelly said Tasmania had shown its strongest June month since 2009.

"North-West centres eased back for the quarter, down 4.8 per cent on the previous quarter, but up 4.4 per cent on the same time last year," Mr Kelly said.

"The top three most expensive suburbs were Battery Point, Acton Park and Sandy Bay, while the three most affordable were Ravenswood, Mayfield and Gagebrook."

Fifty-two per cent of statewide June quarter purchases were from second home buyers, and 43 per cent of buyers lived in the same suburb or town as their new properties.

Mr Kelly said the removal of the First Home Owner's Grant on July 1 would impact the next quarter.

"While first home buyers remained steady at 17 per cent of all house sales across Tasmania for the quarter, we expect to see this drop back slightly in the next quarter," he said.

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