The Australian Property Report July - December 2025 11 LAUNCESTON, TAS Tasmania’s property market is evolving, with Launceston emerging as a hotspot for buyers and investors. Median house prices have risen 7.5% to $790,000 and units have jumped 20.88% to $550,000, driven by affordability and upgrades like Legana’s new primary school. Population growth (1.4% in 2024) is intensifying demand and worsening the housing shortage. While Hobart values dip, Launceston continues to climb. Policies like “Stamping Out Stamp Duty” have helped over 1,700 first-home buyers, but supply lags (only 706 homes were built last quarter, well short of the 1,306 target) underscoring the urgent need for faster approvals and more construction. Source: Corelogic, Property Council of Australia MELBOURNE, VIC Melbourne’s property market is showing early signs of recovery after a slow 2024. Two interest rate cuts, easing inflation, and steady employment have lifted buyer confidence, attracting both owneroccupiers and interstate investors. Demand is strongest in inner and middle-ring suburbs, driven by migration and limited new supply due to high construction costs and labour shortages. While price growth remains modest, the market appears to have bottomed after a 10–13% decline from peak values. Stock levels are normal, but buyers remain cautious and price-sensitive. Investor sentiment is impacted by state taxes and tighter regulations. Auction clearance rates sit between 60% and 69%, with well-priced homes performing well. Source: Corelogic
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