M:
Research
Spring/25 Regional Tasmania Residential
The Big Picture Regional Tasmania counted 0.3% more people in the past year, although is currently growing at a slower pace than the long term forecast. The interest rate target has been lowered to 3.60% with the Reserve Bank of Australia anticipating a further reduction in next six months. Compared to a year ago, the construction of new residential homes in Tasmania was down 24.7% and building approvals were 8.5% lower.
Residential property sales are trending higher despite average selling times are taking longer, while both new listings to market and overall total listings are tracking below a year ago. Property price growth has slowed with mixed performance over the past year, although 2% price growth is forecast for 2026. The rental market remains significantly undersupplied of new homes, which is likely to keep rents elevated.