H O B A R T
If we zoom into 2023 alone , both luxury house price growth and luxury unit price growth were overshadowed by their median counterparts . Luxury house prices grew by 4.6 per cent compared to median house price growth of 5.3 per cent , while luxury unit prices grew by 3.7 per cent compared to median unit price growth of 5.3 per cent . Relatively speaking , it was a muted year for Hobart in terms of price growth .
UNIT PRICES PER YEAR - MEDIAN VS LUXURY
House |
|
4.61
5.33
|
|
Unit |
3.7 |
5.33 |
Median
Luxury
|
Source : Neoval |
|
|
|
In terms of transaction volume , Hobart did not have a very good year in 2023 . Luxury house transactions fell by 47 per cent to 14 transactions from its 2022 peak of 21 . The impact on luxury units was not as drastic ; transactions fell by only 14 per cent to 48 from its 2022 peak of 56 . With this last change in sales , Hobart can be seen to sell five more luxury units for every luxury house .
COUNT OF LUXURY TRANSACTIONS HOUSE VS UNIT
50
40
30
20
10
0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Source : Ray White
44