Tasmanian property vendors remain the happiest in the nation, but Launceston has dropped from fourth to 23rd on the list of the happiest regions.
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In the midst of a state housing crisis, a new report from real estate agent ratings website RateMyAgent has declared that Tasmania has "held on to the crown" as the happiest state in Australia when it comes to property values.
The state has, however, recorded a lower net score than it did in the previous quarter.
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RateMyAgent chief executive Mark Armstrong said vendor price expectations had "really taken a turn" in the first quarter of 2019.
"All the doom and gloom news from last year has left sellers adjusting to a new reality," he said.
"Not only are they realising that it's not that bad, but they've adjusted their sales expectations, so their results are turning out better than they anticipated."
While Greater Hobart is described in the report as the "standout performer" nationally - with a net above score 16 per cent higher than the nearest area on the list - Launceston has fallen out of the top 10, dropping to 23rd.
Western Australia has fallen to the bottom of the rankings, making it the least happy state in Australia.
