Launceston has recorded the biggest boost to housing value in the past 12 months and has topped the country for regional locations.
A national report released by CoreLogic on Wednesday shows Launceston and North East Tasmania has recorded an 11.4 per cent increase in housing value in 2018.
Latrobe in Gippsland recorded the second highest growth and is the top of the mainland regional locations, but only recorded 8.7 per cent.
The Core Logic report compared the top and bottom tiers for property growth and decline in both capital cities and regional areas.
North-West Tasmania also rated in the top 10 growth areas for regional centres, coming in at number six.
The North-West Coast recorded a 7.8 per cent growth in its housing market.
CoreLogic head of research Tim Lawless said the broad weakening in housing market conditions last year highlighted that the slowdown goes well beyond the “correlation in Sydney and in Melbourne.”
“The two exceptions were regional Tasmania, where the pace of capital gains was higher relative to 2017 resulting in a nation leading 9.9 per cent gain in values over the 2018 calendar year,” Mr Lawless said.
Regional Australian areas returned a stronger growth performance relative to capital cities, with Tasmania and Victoria the top two performing states.
Regions in both Victoria and Tasmania comprised seven of the top 10 best performing regional markets.
Alongside Launceston and the North-West, South East Tasmania also rated in the top 10, coming in at 3, with an 8.6 per cent growth.
“Areas across regional Australia returned a stronger growth performance relative to the capital cities; likely due to better housing affordability, more sustainable long term growth trends and improving economic and demographic conditions.
“The strongest regional performers were in Tasmania and Victoria, with sub-regions in these states comprising seven of the top ten best performing regional markets,” Mr Lawless said.
Among the capital cities, Hobart recorded the best growth with an 8.8 per cent improvement.
Housing pressures in Hobart have been well documented, with a housing crisis triggering a series of government round tables and an inquiry into short-stay housing and the impact it has on the market.
In addition, there has been concerns over the availability of University of Tasmania accommodation in recent months, with UTAS originally prioritising regional and international students over returning Hobart students.
However, after community pressure and student concern, UTAS reversed its decision and bought a hotel in Hobart to expands its accommodation rooms.
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