REGIONAL TASMANIA
Over the past five years , the median price of houses in regional Tasmania has more than doubled , experiencing the strongest increase in Australia . The increase has been primarily driven by a seismic economic shift in the Tasmanian economy - moving it from being driven by government and agricultural employment to also including a quick growing tourism and education sector .
While Tasmania ’ s borders were shut for most of the past two years , it didn ’ t do much to slow down price growth . While wealth impacts and low interest rates were part of the increase , investor activity also played a critical role . Over the past 12 months , regional Tasmania has seen the biggest jump in investor activity of all regional areas . Very high prices in Hobart were likely part of this , however growth in tourism would also have been drivers .
Launceston and the north-east saw the biggest jump with prices increasing by 65 per cent through the pandemic . The south-east wasn ’ t too far off with prices rising just under 65 per cent . Popular tourist destination , Adventure Bay , saw the biggest increase in this part of the region .
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