While Queenstown remains the most affordable place to buy a house, a house in Mayfield has the median price of $145,000.

Ravenswood, Rocherlea, George Town and Waverley have median prices between $150,000 and $199,000.

The report showed that the median sale price in the Launceston region went up $35,000 from last September to $300,000.

Hobart exceed this rise by more than $51,000 to rest at a median of $436,250.

Real Estate Institute of Tasmania president Tony Collidge said Launceston’s sales were 21.3 per cent up on last year’s figures.

This included the sale of two properties worth more than $1 million in the city over the September quarter.

He said Tasmanians accounted for 76 per cent of the 2700 statewide sales, worth more than $914.2 million.

Mr Collidge said foreign investors accounted for just 1 per cent of buyers and interstate buyers 13 per cent. 

He said interstate purchasers had bought 1813 properties at a $290,000 median price over 2017; of these were 812 investors and 1001 relocating to the state.

Mr Collidge said Launceston’s vacancy rate was below 3 per cent and rental-asking prices for a three-bedroom house were about $300.

“Tasmanian rental properties continue to offer and provide some of the strongest investment returns available across the nation,” he said.

“It is encouraging to see strong improvement in sales activity in the North and North-West markets.

“Of concern is our ability, particularly in Hobart to continue to meet the demands of such growth.

“I envisage the shortage of rental properties and properties for sale will see demand continue to push rents and prices higher.”

MEDIAN PRICES FOR SELECTED COUNCIL AREAS: