Hobart Autumn 2026 Property Market Report

Hobart’s residential property market continues to show steady growth, supported by improving sales activity, tighter supply and ongoing rental demand. The Autumn 2026 Hobart Property Report highlights a market transitioning into a stable phase, underpinned by limited new construction and consistent buyer interest.

For buyers, investors and homeowners, Hobart real estate offers a compelling balance of affordability, lifestyle and long‑term growth potential.

Sales activity strengthens across Hobart

Hobart recorded an increase in residential sales over the past year, rising 10% to 3,773 transactions, exceeding the five‑year average.

Quarterly sales activity also improved, with 1,024 transactions, reflecting stronger buyer engagement and market momentum.

Hobart accounts for 37% of total residential sales across Tasmania, reinforcing its importance within the state’s housing market.

Homes are selling more quickly, with average days on market falling to 26 days, highlighting strong demand for well‑positioned properties.

Supply conditions remain constrained

Housing supply across Hobart remains tight, despite an increase in new listings. Newly advertised properties rose 6.6% year-on-year, improving choice for buyers.

Total listings also increased, up 26.0% compared to last year, although overall supply remains limited in the context of ongoing demand.

Population growth remains modest at 0.4% in 2024, but still contributes to housing demand across the region.

New housing construction continues to lag, with delivery down 15.9% year-on-year, while building costs have risen 6.0%, constraining future housing supply.

Hobart property prices continue upward trend

Hobart property prices have increased 10.0% annually, bringing the median residential value to approximately $741,800.

Quarterly growth of 4.2% reflects continued demand across both houses and apartments.

Looking ahead, McGrath Research forecasts price growth of 4% in 2026, followed by a further 2% increase in 2027, signalling a transition to more moderate, sustainable growth.

Rental market remains undersupplied

Hobart’s rental market continues to experience significant undersupply, with vacancy rates at just 1.4%, well below the balanced level of 3%.

Median weekly rents are now approximately $560, rising 3.7% year-on-year, reflecting ongoing tenant demand.

Rents are forecast to increase 7% in 2026, supported by limited rental stock and continued population-driven demand.

Gross rental yields remain relatively strong at 4.16%, offering attractive returns for investors in the Hobart investment property market.

Economic fundamentals supporting demand

Hobart’s housing market is underpinned by stable fundamentals, including an unemployment rate of 4.3% and interest rates at 4.10%, shaping affordability and buyer behaviour.

While population growth is slower than other capital cities, lifestyle appeal and limited housing supply continue to drive demand for Hobart residential property.

Outlook for Hobart property in 2026

With rising sales activity, constrained supply and steady price and rental growth, Hobart’s property market is expected to remain stable in 2026.

For buyers and investors, the market offers a combination of affordability, consistent growth and strong rental returns, reinforcing Hobart’s position as a resilient and attractive regional capital market.

Explore the full Hobart Autumn 2026 Property Report for deeper insights into local sales activity, pricing and rental performance.