Comments from real estate agents indicate they are receiving many viewings and applications for rental properties and houses are let within days.

As for property sales, the average house is selling within weeks and the open homes are attracting many views.

Some properties are even cancelling open homes due to the house sold within days of hitting the market.

Last week, The Examiner highlighted the Real Estate Institute of Tasmania figures that showed Tasmania experienced $4.067 billion worth of sales for 2018.

A fifth of those sales was from interstate buyers.

The REIT report also showed that house prices rose by 14.5 per cent in Launceston. The median price is now $335,000.

Of the 181 Tasmanian properties that were sold for more than $1 million, 33 were purchased from interstate buyers.

Recent data from Domain shows Launceston and Northern Tasmanian suburbs sit high in the search for buyers interstate.

Views per listing for Launceston also increased by 40 per cent over 2018.

Launceston remains affordable compared to Hobart.

However, there are signs Northern Tasmania could follow in the capital’s footsteps of a housing crisis.

But it takes a multi-pronged approach to ensure the real estate confidence is a win for everyone.

We need affordable social housing. But it must be integrated into developments, not siloed into one region and create a ghetto of sorts.

Regulation of the accommodation shared economy must continue, but also be supported because beds are needed for the many events Northern Tasmania is attracting. Confidence in our region is also strong and can be seen with significant investment in new hotels.

It’s a good time to buy in Launceston, but with this growth, we must be ready to take all things into account.