Hobart Market Update 2 nd H a l f 2 0 2 6
FUTURE DEVELOPMENTS
OVERVIEW
In Q2 2026, Hobart* recorded a median house price of $1,025,000, and a median unit price of $650,000. This represents an annual (Q2 2025 – Q2 2026) price growth of 10.8% for houses and by 2.4% for units. Between Q2 2025 – Q2 2026 house sales has declined, by -7.1% (to 143 for houses in Q2 2026) and by -25.9% for unit sales (to 83 sales in Q2 2026). The house and unit market is undersupplied, which has created a buffer against multiple cash rate hikes in 2026. Thus, there is a continuing opportunity for owners to capitalise on their investments. Further, with limited new residential stock set to commence in 2026 the current undersupply is expected to continue, hence further price growth. Thus, buyers must act fast.
CHANGE FROM LAST
YEAR
Hobart£ will see approximately $1.8B of new developments due to commence construction in 2026**. Mixed Use $77.0M Commercial $23.3M
HALF YEAR
Residential $7.4M
HOUSE SALE S
Infrastructure
HOUSE ME DIAN PRICE
$1.7B
HOUSE RE NTAL PRICE
UNIT SALE S
The key focus in Hobart£ for 2026 are infrastructure projects, which improve liveability for residents and attracts more people to live in the area.
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
There are residential and mixed-use projects bringing new stock to Hobart. These include:
$ MARKET CONDITIONS MEDIAN PRICE Q2 2026
$1.0M
$650K
MEDIAN PRICE Q2 2026
$680
SALES
AVERAGE DAYS ON MARKET Q2 2026
50
49
HOUSE
U N I T
RENTALS
$525
•
199 Macquarie Street & Molle Street (45 Dwellings)
•
190 Macquarie Street (4 Apartments)
•
132A Melville Street (3 Townhouses)
The incoming supply of ready-to-go residential and mixed-use projects will aid in answering current high demand. However, house and unit sales in Q2 2026 are much higher suggesting that the current undersupply will continue. Thus, higher prices are highly likely.
AVERAGE DAYS ON MARKET Q2 2026
19
18
HOUSE
U N I T
3 Townhouses
15 Units/ Apartments
45 Dwellings