Hobart saw the greatest house price growth among major cities from 2014 to 2023 , with luxury house prices growing 122 per cent to end at $ 1.5 million and median house prices growing 112 per cent to end at $ 742,000 . One factor this impressive jump can be attributed to was that Hobart luxury prices in 2014 were the lowest of any major city at $ 664,000 compared to the average at the time of $ 1.1 million .
H O B A R T
HOBART HOUSE PRICES OVER THE PAST 10 YEARS
$ 1.4M
LUXURY
$ 1.2M
$ 1M
$ 800K
MEDIAN
$ 600K
$ 400K
$ 200K
0 2014
2015 2016 2017 2018 2019 2020 2021 2022 2023
Source : Neoval
Hobart also commanded the largest 10-year growth for unit prices , but it was also the only major city where median unit price growth outpaced that of luxury units . Hobart started the last decade with luxury unit prices at $ 520,000 then peaked in 2023 at $ 1.04 million , a 100 per cent increase . Median unit prices , on the other hand , grew by 102 per cent from $ 279,000 to $ 564,000 .
HOBART UNIT PRICES OVER THE PAST 10 YEARS
$ 1M
$ 900k
$ 800K
$ 700K
$ 600K
$ 500K
$ 400K
$ 300K
$ 200K
$ 100K 0 2014
2015 2016 2017 2018 2019 2020 2021 2022 2023
LUXURY
MEDIAN
Source : Neoval 43