Hobart property market data, trends, forecasts

Hobart property market news - key takeaways

• Values ease in the Hobart property market: Hobart dwelling values dipped -0.2 per cent in August 2026, though annual growth remains solid at +8.1 per cent, with units outperforming houses over the short term.
• Listings fall sharply: Total listings dropped -16.4 per cent year on year, keeping available stock well below levels seen a year ago and limiting the choices open to buyers.
• Homes selling faster than national pace: With a median of 31 days on market against a national median of 39 days, Hobart properties are changing hands relatively promptly, and vendor discounts have narrowed to -3.4 per cent from -4.0 per cent a year ago.
• Tight rental conditions persist: Annual rents rose +7.9 per cent with a vacancy rate of just 0.6 per cent, placing Hobart among the tighter rental markets of the capital cities.
• Rate rises on the horizon: The RBA cash rate sits at 4.35 per cent, and all four major banks now expect a further rise to 4.60 per cent, with NAB forecasting a move as early as September 2026.

Hobart property price movements

The Hobart property market recorded a modest easing in August 2026, with values pulling back slightly over the month. Annual growth remains solidly positive, though the short-term direction has shifted.

Hobart property prices - August 2026

Hobart home values slipped -0.2 per cent in August 2026, with the quarterly figure also edging lower at -0.2 per cent. The annual measure continues to hold well in positive territory, up +8.1 per cent over the year.

^{Source: Cotality}

The median home value in Hobart sat at $752,397 in August 2026, down around $1,505 on the prior month. Values remain -1.1 per cent below their March 2022 peak, meaning the city has recovered most of that ground but has not yet fully closed the gap.

House prices in Hobart

Hobart house prices eased more noticeably over the month, with the monthly and quarterly figures both in negative territory. The annual picture for the Hobart housing market remains positive, with houses gaining +7.9 per cent over the year.

^{Source: Cotality}

At $798,156, the median house value fell by around $3,213 over the month. Houses have pulled back a little more than the broader market this quarter, slipping -0.5 per cent over the three months to August 2026.

Unit prices in Hobart

Hobart unit prices moved in the opposite direction to houses in August 2026, edging higher over both the month and the quarter. Annual growth for Hobart unit prices, at +8.7 per cent, was the strongest of the two segments.

^{Source: Cotality}

The median unit value rose to $599,373, adding around $5,340 over the month. Units have gained +1.0 per cent over the quarter, a notably stronger result than houses over the same period.

Hobart property market forecasts 2026

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

• 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 predicts Hobart property prices to rise +5.0 per cent over 2026.
• ANZ predicts Hobart property prices to rise +3.6 per cent over 2026.

NAB sits at the optimistic end of Hobart property market predictions, forecasting +5.0 per cent growth for the year. Westpac is the most cautious of the four at +1.0 per cent, while CBA (+4.0 per cent) and ANZ (+3.6 per cent) both sit closer to the top of the range than the bottom.

RBA cash rate forecast 2026-2027

The RBA cash rate currently sits at 4.35 per cent, having risen from 3.60 per cent in the prior period. All four major banks expect the next move to be a rise, though they differ on timing, with NAB the most immediate in its expectation and the others pointing to later in the year.

• ANZ expects the next cash-rate move to be a 25 basis point rise in November 2026, bringing the cash rate to 4.60 per cent.
• CBA expects the next cash-rate move to be a 25 basis point rise in November 2026, bringing the cash rate to 4.60 per cent.
• NAB expects the next cash-rate move to be a 25 basis point rise in September 2026, forecasting the risk of a further rise in November 2026 to bring the cash rate to 4.60 per cent.
• Westpac expects the next cash-rate move to be a 25 basis point rise in November 2026, bringing the cash rate to 4.60 per cent.

Sally Tindall, Data Insights Director at Canstar said of the rate outlook:

"The economic narrative has taken a U-turn in the space of just a couple of days."

Tindall's observation speaks to how quickly the rate environment can shift for Hobart borrowers, even when the underlying data appears stable from one week to the next.

What this means for the Hobart market

A cash rate at 4.35 per cent already places meaningful pressure on borrowing capacity, and any further rise to 4.60 per cent would tighten that further. For Hobart buyers, where the median dwelling sits at $752,397, even a modest rate increase translates to a higher monthly repayment and a lower maximum loan the banks will approve.

The gap between Westpac's cautious +1.0 per cent and NAB's more confident +5.0 per cent forecast reflects genuine uncertainty about how Hobart property responds to rising rates. Units, which have held up better than houses in recent monthly figures, may prove more resilient if affordability constraints push buyers toward lower price points, while higher-value houses could feel the squeeze from tighter lending conditions more directly.

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 delivered an annual gain of +8.1 per cent to August 2026, even as the monthly and quarterly figures each eased -0.2 per cent, with the current dwelling median sitting at $752,397, according to Cotality's latest figures. Those short-term moves are modest and worth keeping in perspective against the solid annual result.

The five-year arc has been shaped by a sharp rate-rise cycle that pulled values back from their March 2022 peak, followed by a period of recovery driven by persistently tight supply and a rental market that has kept pressure on buyers who can no longer afford to rent. Cotality data shows total listings in Hobart fell -16.4 per cent year on year to August 2026, meaning the pool of available homes has stayed thin enough to support prices even as borrowing costs remain elevated.

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 market is running on a different track to the national picture. Sales volumes are holding up, listings have pulled back sharply, and homes are changing hands in less time than the national median, even as values edge lower month on month.

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Hobart sales volume and days on market

Sales volumes in Hobart rose +4.0 per cent year on year in August 2026, a clear contrast to the broader trend. The median days on market extended to 31 days, up from 27 days a year ago.

^{Source: Cotality}

That +4.0 per cent sales volume gain stands out against a combined capitals figure of -5.2 per cent and a national figure of -2.7 per cent, suggesting Hobart is attracting buyer activity at a time when demand is easing elsewhere. At 31 days, Hobart homes are also selling faster than the combined capitals median of 37 days and the national median of 39 days, which tells sellers their properties are transacting relatively promptly by any current benchmark.

Hobart new and total listings

New listings fell -15.3 per cent year on year, while total listings dropped -16.4 per cent over the same period. Both measures point to a significant reduction in available stock entering and sitting in the market.

^{Source: Cotality}

Fewer listings mean less choice for buyers and less direct competition for sellers bringing a property to market. At a time when values have softened slightly, the constrained supply base is providing some support, limiting the pool of alternatives a buyer can turn to.

Hobart vendor discount

Vendor discount measures the difference between a property's initial asking price and the price it ultimately sells for. A narrower discount means the final sale price is closer to what the seller originally asked. Weekly auction clearance rates are not included for Hobart, as auction volumes in the city are too low to produce statistically meaningful results.

^{Source: Cotality}

Hobart's vendor discount narrowed to -3.4 per cent from -4.0 per cent a year ago. Sellers are accepting offers closer to their asking price than they were twelve months back, a modest but clear shift in the direction of seller conditions even as monthly values have eased slightly.

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Hobart property investing

Hobart's rental market remains one of the tightest in the country, and the figures in August 2026 reflect that clearly. For renters, conditions are demanding; for investors holding Hobart property, the combination of rising rents and a yield above the national average makes for a compelling picture.

Helpful resource: Estimate the capital gains tax on a sale with our free calculator.

Hobart rental market

The table below covers annual rent growth for Hobart houses and units, the city's gross rental yield, and how those figures compare across the capital cities and broader national benchmarks.

^{Source: Cotality}

Hobart's annual rent growth of +7.9 per cent sits well above the national rate of +5.7 per cent, driven primarily by houses, which climbed +8.5 per cent over the year. A gross yield of 4.4 per cent places Hobart among the higher-yielding capital city markets, reflecting a city where property values remain lower relative to rents than in the larger capitals such as Sydney and Melbourne.

Hobart vacancy rates

The vacancy rate is a straightforward pressure gauge: when few rentals sit empty, competition among tenants is high and rents tend to rise. SQM data shows that Hobart's vacancy rate has edged up slightly over the past year, though it remains at a level that points to very little room for renters to choose between available properties.

^{Source: SQM Research}

Hobart's vacancy rate edged up from 0.5 per cent a year ago to 0.6 per cent in August 2026, a modest move that leaves conditions still firmly in tight territory. At 158 vacant properties across the city, Hobart sits in a different position from Sydney and Canberra, where vacancies have risen sharply over the same period and renters have meaningfully more choice.

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

"The national vacancy rate is 1.3%, but that hides a market moving in two directions. Sydney has 26% more vacancies than a year ago and Canberra 29% more, while Brisbane, Perth, Adelaide and Darwin have fewer than they did last August."

Mr Christopher's observation about diverging city conditions applies directly to Hobart's situation. With only 158 vacant properties and a rate of 0.6 per cent, Hobart sits clearly on the tighter side of that national split, alongside markets like Brisbane and Perth where available rentals have not accumulated in the way they have in the larger southern capitals. For investors, that combination of low vacancy and above-average rent growth points to continued demand for rental properties in the city.

Top growth areas in Hobart

Hobart's strongest annual price gains in August 2026 were spread across the city's outer and middle-ring regions. The table below ranks all six Statistical Area Level 3 (SA3) regions across Greater Hobart by annual percentage change, an SA3 being an ABS classification that typically groups several adjacent suburbs into a single statistical unit.

^{Source: Cotality}

Highlights for Hobart’s top growth areas

• Hobart - North West: Ranked #1 with annual growth of +13.9 per cent and a median value of $662,479, Hobart - North West covers a broad arc of suburbs running north from the city along the Derwent River. Relative affordability compared with the inner city has drawn consistent buyer interest here, with suburbs such as Glenorchy and Moonah among the more active pockets in the region.
• Brighton: Ranked #2 with annual growth of +13.1 per cent and a median value of $656,059, Brighton sits to Hobart's north and offers some of the city's most accessible price points. Suburbs such as Bridgewater and Old Beach have attracted buyers seeking detached homes at a distance from the inner-city premium, supported by reasonable road access to Hobart's employment centres.
• Sorell - Dodges Ferry: Ranked #3 with annual growth of +9.9 per cent and a median value of $709,463, this coastal region stretches east of Hobart toward the Tasman Peninsula. Lifestyle appeal, coastal access, and relative affordability compared with the city's southern suburbs have kept demand steady here, with suburbs such as Sorell and Midway Point drawing particular interest.
• Hobart - South and West, and Hobart - North East: Ranks #4 and #5 posted gains of +8.8 per cent (median $872,469) and +8.1 per cent (median $794,974) respectively. Both regions sit above the city-wide median and reflect demand across Hobart's more established middle-ring suburbs, from the southern coastal strip around Kingston Beach through to the eastern shore suburbs of Bellerive and Howrah.
• Hobart Inner: Ranked #6 with annual growth of +1.7 per cent and a median value of $888,051, Hobart's inner suburbs recorded considerably slower growth than the rest of the city over the past year. At this price point, buyer sensitivity to rate movements tends to be greater, and the slower pace reflects that directly, with prestige pockets such as Battery Point and Sandy Bay contributing to a higher median that leaves less room for rapid appreciation.

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