Regional Tasmania | Spring 2026 Residential Report

Regional Tasmania's property market enters Spring 2026 with strong momentum, supported by rising sales activity, robust price growth and tight rental market conditions. Homes are selling faster than they were a year ago, residential values continue to climb and housing supply remains constrained across much of the state. Despite modest population growth, limited housing availability continues to support buyer and tenant demand.

Market snapshot
Regional Tasmania recorded 6,589 residential property sales in the year to Q2 2026, representing annual growth of 12% and exceeding the five-year average. Homes are taking an average of 37 days to sell, 13 days faster than a year ago, reflecting improving market conditions and stronger buyer demand. New listings increased 16.9% year-on-year, while total listings declined 27.1%, highlighting the ongoing shortage of available housing stock.

Property prices
Regional Tasmania residential property values increased 11.7% over the year to Q2 2026, taking the average residential property value to $613,800. Prices also rose 0.9% during the most recent quarter, continuing the market's upward trajectory. McGrath Research forecasts Regional Tasmania residential property prices will increase by 9% by the end of 2026, followed by a further 4% rise in 2027 as supply constraints and housing demand continue to support growth.

Rental market
Rental conditions remain undersupplied across Regional Tasmania, with vacancy rates recorded at 1.9% at the end of Q2 2026, below the level generally considered a balanced market. Average weekly rents increased 9.0% over the past year to $485 per week, driven by limited rental stock and ongoing tenant demand. McGrath Research forecasts rents will rise by a further 8% by the end of 2026 and 6% in 2027.

Economic drivers
Housing supply remains a key factor shaping Regional Tasmania's property market. New home completions across Tasmania declined 13.1% over the past year despite a 15.5% increase in building approvals. Population growth remained modest at 0.3% in 2025, while unemployment tracked at 4.0%, below the national average. These conditions, combined with limited housing availability, continue to support both property values and rental growth across the region.

Outlook for Regional Tasmania property
Regional Tasmania is expected to remain one of Australia's strongest-performing regional housing markets through the remainder of 2026. McGrath Research forecasts further growth in residential property values, supported by constrained housing supply, improving sales activity and tight rental market conditions. Continued undersupply of rental properties is also expected to place upward pressure on rents, supporting investor interest and market confidence.
Explore the full Spring report for detailed insights into sales activity, housing supply, property values and rental market performance across Regional Tasmania.