Hobart property market data, trends, forecasts

Hobart property market news - key takeaways

• Strong annual price growth: The Hobart property market posted +9.3 per cent annual dwelling value growth in July 2026, with houses leading at +9.5 per cent and the median dwelling value reaching $756,951.
• Stock remains tight: Total listings in Hobart fell -16.6 per cent year on year, even as new listings edged up +4.3 per cent, meaning fresh supply is selling before it can build up on market.
• Properties selling faster than most: Hobart's median days on market sat at 30 days, comfortably below the combined capitals median of 33 days and the national median of 35 days, with vendor discounts holding steady at -3.9 per cent.
• Rental pressure remains elevated: Hobart rents rose +8.0 per cent over the year, second only to Darwin among capital cities, with a vacancy rate of just 0.7 per cent keeping conditions firmly in landlords' favour.
• Rate cuts still some time away: All four major banks expect the RBA's next move to be a cut, but none forecast it before mid-2027, meaning borrowing costs are set to stay at current levels for at least another year.

Hobart property price movements

The Hobart property market has continued to build on recent gains, with values rising across most segments in July 2026. Annual growth stands out as a clear highlight, well ahead of the national pace.

Hobart property prices - July 2026

Hobart homes posted a +0.1 per cent gain in July 2026, holding a steady upward track through the month. The quarterly and annual figures tell a stronger story, with values up +1.4 per cent over the quarter and +9.3 per cent over the year.

^{Source: Cotality}

The median home value reached $756,951 in July 2026, an increase of around $757 over the month. Values remain -0.7 per cent below their March 2022 peak, meaning Hobart has recovered the large majority of ground lost since then.

House prices in Hobart

Hobart house prices edged higher in July 2026, posting a +0.2 per cent monthly gain to reach a median of $805,165. The annual figure of +9.5 per cent places the Hobart housing market among the stronger performers nationally for the year.

^{Source: Cotality}

The monthly gain added around $1,610 to the typical house value. Houses outpaced units on both a monthly and annual basis, continuing a pattern where detached homes have carried the bulk of Hobart's price momentum.

Unit prices in Hobart

Hobart unit prices eased slightly in July 2026, slipping -0.2 per cent over the month to a median of $587,863. Annual growth of +8.1 per cent shows the unit segment is still well ahead of where it was a year ago, even with the modest monthly pull-back.

^{Source: Cotality}

The monthly dip trimmed around $1,178 from the typical unit value. At $587,863, Hobart units sit more than $217,000 below the house median, a gap that reflects the different buyer pools and land value components driving each segment.

Hobart property market forecasts 2026

Australia's Big Four banks, CBA, Westpac, NAB and ANZ, publish dwelling price forecasts as part of their annual economic research. Views on the Hobart house price forecast for 2026 vary across the four, with a spread of three percentage points separating the most and least optimistic outlooks.

• CBA predicts Hobart property prices to rise +4.0 per cent over 2026.
• Westpac predicts Hobart property prices to rise +1.0 per cent over 2026.
• NAB's published forecast is at the Tasmania state level; it predicts dwelling prices to rise +4.6 per cent over the next 12 months across Tasmania.
• ANZ predicts Hobart property prices to rise +3.6 per cent over 2026.

Hobart property market predictions span from Westpac's +1.0 per cent at the lower end to NAB's +4.6 per cent at the higher end, though NAB's figure reflects the broader Tasmania market rather than Hobart specifically. CBA's +4.0 per cent and ANZ's +3.6 per cent sit near the top of the city-level range. Westpac is the clear outlier among the three banks publishing a Hobart-specific figure, sitting well below its peers.

RBA cash rate forecast 2026-2027

The RBA has held the cash rate at 4.35 per cent, following three consecutive increases earlier in the year, a decision consistent with market expectations after headline inflation eased to 3.8 per cent in June. All four major banks expect the next move to be a cut, though they disagree on timing, with forecasts for the first reduction ranging from mid-2027 to late 2027.

• ANZ expects the next cash-rate move to be a 25 basis point cut, forecasting cuts in September and December 2027 to bring the cash rate to 3.85 per cent.
• CBA expects the next cash-rate move to be a 25 basis point cut, forecasting another cut in September 2027 to bring the cash rate to 3.85 per cent.
• NAB expects the next cash-rate move to be a 25 basis point cut, forecasting two more cuts in September and December 2027 to bring the cash rate to 3.60 per cent.
• Westpac expects the next cash-rate move to be a 25 basis point cut, forecasting another cut in December 2027 to bring the cash rate to 3.85 per cent.

What this means for the Hobart market

At 4.35 per cent, the cash rate continues to weigh on borrowing capacity across Hobart, where the median dwelling value of $756,951 already sits above what many first-home buyers can comfortably finance. With the first expected rate cut still at least twelve months away on most bank timelines, affordability conditions are unlikely to ease materially in the near term.

The rate environment puts Westpac's more modest +1.0 per cent forecast in context: sustained mortgage costs tend to cap how much buyers can bid, particularly at the house end of the market where Hobart's median sits above $805,000. CBA and ANZ's more constructive forecasts of +4.0 per cent and +3.6 per cent likely factor in the demand relief that a cut cycle beginning in mid-to-late 2027 would eventually deliver, particularly for units, where the entry price is lower and rate sensitivity among buyers tends to be higher.

CBA and NAB's forecasts were published based on H1 2026 and Q2 2026 research respectively, both of which predate the RBA's August hold decision, so those views may be reviewed in coming months as the banks update their economic outlooks.

Helpful resource: Our simple guide to tracking market trends and data will walk you through everything you need to know to be able to read the market and make a smarter selling decision.

Hobart house prices graphs and charts

Hobart's house price growth over the last 5 years has carried the city's dwelling median to $756,951, with values edging up +0.1 per cent in July, gaining +1.4 per cent over the quarter, and rising +9.3 per cent over the year, according to Cotality's latest figures.

The five-year arc reflects a market shaped by rate cycles and constrained supply. Borrowing costs rose sharply from 2022, pulling values back from their March 2022 peak, yet the limited stock of homes coming to market has kept a floor under prices. The past year's +9.3 per cent annual gain shows demand has held up more firmly in Hobart than in many of the larger capitals.

Hobart property 30 year property price graph

Hobart property prices growth over the last 10 years has been strong, fuelled by interstate migration, tight housing supply and rising demand for lifestyle locations—factors that powered the big gains through 2015–2021 and set the scene for the recent cycle. That decade of substantial gains means the current bounce reads as a recovery toward long‑term trends rather than a new, outsized breakout, as shown by the 30‑year indexed chart and local market history.

Over the past 30 years, Hobart’s market has moved in bursts—big gains when credit was cheap and pauses when rates rose, or supply improved—so long‑term holders have generally been rewarded despite short-term swings. Today, homeowners are cautiously optimistic as values recover and rental tightness remains, while buyers are more price‑sensitive because borrowing rules and higher mortgage costs limit budgets; that mix points to steadier, moderate growth ahead rather than a return to the extreme gains of 2021.

Hobart selling statistics

Hobart's selling-side conditions in July 2026 stand apart from most other Australian capitals. Sales volumes are running ahead of a year ago, properties are moving faster than the national and combined-capitals medians, and total stock on market is tighter than it was twelve months prior.

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Hobart sales volume and days on market

Sales volumes in Hobart rose +6.8 per cent year on year, a meaningful contrast to the combined capitals, where volumes fell -3.5 per cent over the same period, and the national figure, which slipped -0.8 per cent. Properties in Hobart are also selling in 30 days, up slightly from 28 days a year ago but comfortably below the combined capitals median of 33 days and the national median of 35 days.

^{Source: Cotality}

Hobart's days-on-market reading is the sharper indicator here. While selling times have extended by two days year on year, Hobart remains meaningfully faster than both the capital-city and national benchmarks, suggesting demand relative to available stock has held up better than in larger markets. For sellers, that gap is worth noting when setting expectations around campaign length.

Hobart new and total listings

New listings in Hobart rose +4.3 per cent year on year, pointing to a modest lift in fresh seller activity. At the same time, total listings fell -16.6 per cent compared with a year ago, which means the additional new supply has not been enough to replenish overall stock on market.

^{Source: Cotality}

The divergence between rising new listings and falling total stock tells you that properties are selling before they can accumulate. Buyers in Hobart are working with a shallower pool of choice than they were a year ago, and that constrained supply backdrop helps explain why values have continued to climb despite softer conditions playing out across many other capitals.

Hobart vendor discount

Vendor discount measures the percentage difference between a property's initial asking price and its final sale price. A narrower discount means sellers are achieving prices closer to their original ask, while a wider discount means final sale prices are further below the asking price. Weekly auction clearance rates are not included for Hobart because auction volumes are too low to produce statistically meaningful results.

^{Source: Cotality}

Hobart's median vendor discount came in at -3.9 per cent in the most recent period, almost unchanged from -4.0 per cent a year ago. The stability in this figure, particularly against a national backdrop where discounting has been widening, suggests sellers in Hobart are not being asked to make significantly greater concessions than they were twelve months ago.

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Hobart property investing

Hobart's rental market continues to offer investors a combination of above-average yield and strong rent growth. For renters, conditions remain tight, with very few properties sitting vacant at any given time.

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Hobart rental market

The table below covers annual rent growth, gross rental yield, and the split between houses and units for Hobart alongside other Australian capital cities and national benchmarks. These figures give investors a clear read on where Hobart sits relative to the rest of the country.

^{Source: Cotality}

Hobart posted annual rent growth of +8.0 per cent, placing it second among capital cities behind only Darwin and well clear of the national rate. Its gross yield of 4.3 per cent is the highest of any southern capital, sitting above the combined capitals average of 3.6 per cent and above Canberra's matching 4.2 per cent. Houses led the growth at +8.3 per cent annually, with units also posting a solid +6.9 per cent, suggesting demand is broad-based across property types rather than concentrated in one segment.

Hobart vacancy rates

Vacancy rates are one of the more direct measures of rental pressure: a low rate means few properties are available to rent, which typically keeps upward pressure on asking rents. SQM data shows that Hobart's vacancy rate edged up from 0.6 per cent a year ago to 0.7 per cent in July 2026.

^{Source: SQM Research}

Hobart's vacancy rate edged up from 0.6 per cent a year ago to 0.7 per cent in June 2026, representing an additional 10 properties available to rent across the city. That is a small shift, and the rate remains nearly half the national figure of 1.3 per cent, confirming that rental supply in Hobart is far tighter than the capital city average. At 185 vacant properties across the entire city, the pool of available rentals is thin by any measure.

Louis Christopher, Managing Director at SQM Research said in the latest rental market report:

"While the national vacancy rate has edged up to 1.3%, Australia's rental market remains exceptionally tight by historical standards. Most capital cities continue to record vacancy rates below one per cent or only marginally above, highlighting that rental supply remains insufficient to meet demand."

Hobart sits squarely in the group Mr Christopher describes. With a vacancy rate of 0.7 per cent, Hobart is among the cities where supply has not kept pace with demand, a condition that supports the strong rental growth the city has recorded over the past year. For investors, a market this tight means vacancy risk is low, though renters continue to face limited choice and rising asking rents.

Top growth areas in Hobart

The table below covers all six Statistical Area Level 3 (SA3) regions available for Greater Hobart, ranked by annual percentage change to July 2026. An SA3 is an Australian Bureau of Statistics geographic classification that typically groups several neighbouring suburbs into a single region, making it a useful lens for comparing broad areas of a city rather than individual streets.

^{Source: Cotality}

Highlights for Hobart’s top growth areas

• Hobart - North West: Ranked #1 across all Hobart SA3 regions, Hobart - North West recorded annual growth of +15.3 per cent to a median value of $669,998. The region's relative affordability compared with the city's inner and southern precincts appears to be a key draw, bringing buyers who might otherwise be priced out of established suburbs closer to the CBD.
• Sorell - Dodges Ferry: A close second at +15.0 per cent annual growth, Sorell - Dodges Ferry reached a median value of $717,332. The region's semi-rural character and coastal appeal continue to attract buyers seeking more space than the inner city offers, and its proximity to Hobart via the Tasman Highway keeps commuting practical.
• Brighton: Ranked #3 with annual growth of +11.8 per cent and a median value of $656,422, Brighton is the most affordable of Hobart's top three SA3 regions. Its position on the main northern corridor between Hobart and the Midlands gives it a practical transport link that has historically supported steady buyer interest.
• South, west and inner Hobart: Ranks #4 and #5, Hobart - South and West (+10.0 per cent, $841,757) and Hobart - North East (+7.4 per cent, $805,375), represent the city's more established middle ring, where values are higher but growth has remained solid. Suburbs such as Blackmans Bay in the south and west, and Bellerive and Lindisfarne to the north-east, sit within these regions and offer well-serviced, lifestyle-oriented alternatives to the inner city.
• Hobart Inner: The city's most expensive SA3 at a median of $894,637, Hobart Inner recorded the softest annual gain of the group at +4.1 per cent. Higher entry prices naturally moderate the pace of percentage growth, and the region's already-elevated values mean it requires a larger dollar move to register the same rate of change as the outer corridors.

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