Tasmania's property market continues to out-perform mainland markets, with Launceston proving to be one of the state's biggest real estate drawcards.
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Real Estate Institute of Tasmania figures show $4.067 billion worth of sales within the state in 2018, with about a fifth of those (20.6 per cent) purchases made by interstate buyers.
Of the 181 Tasmanian properties that sold for more than $1 million, which includes Meander Valley's Calstock and Launceston's Glenfruin, 33 were purchased by interstate buyers.
Launceston-based KnightFrank sales agent Rodney Rawlings said he frequently dealt with buyers from Victoria, NSW and Queensland who were eager to move to Northern Tasmania.
"We offer great value, as seen with Calstock and Glenfruin," Mr Rawlings said.
"I was showing two guys from Sydney properties and they were surprised at what they get for their money."
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Launceston's location is another selling point.
"[Buyers] are impressed by the access to Sydney and Melbourne, with Launceston's airport only 15 minutes from the city. And there is no traffic on the road," he said.
"The most consistent comment from buyers in the northern states is they are getting away from the oppressive summers and that the Tasmanian climate is appealing.
"They say they are looking forward to seeing changing seasons that they don't have in NSW and Queensland."
REIT's report showed Launceston house prices rose by 14.5 per cent, bringing the median price up to $335,000, president Tony Collidge said.
“Tasmanian residential sales and rental markets have been driven to record heights by an unwavering demand from buyers and renters," he said.
"Tasmania has a buoyant residential real estate market where increasing employment opportunities, a flourishing tourism market, growing tertiary student numbers, and an alluring lifestyle destination have generated continued growth and demand at levels we are struggling to meet."
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