Property Market in Hobart
Hobart's property market experienced rapid growth through the late 2010s, transforming it from Australia's cheapest capital to a mid-range market. Limited housing supply on a constrained geographic footprint between Mount Wellington and the Derwent River continues to support prices despite a smaller buyer pool.
Median House Price
$650,000
Median Unit Price
$450,000
To purchase a median-priced house in Hobart at $650,000, you would need a deposit of at least $130,000 (20% to avoid lenders mortgage insurance) and borrowing capacity of $520,000. Your actual borrowing power depends on your income, existing debts, living expenses, and the lender's assessment criteria. Use the calculator above to estimate how much you could borrow.
Buying Property in Hobart
Hobart's geography is its defining constraint — squeezed between kunanyi/Mount Wellington and the Derwent River, there is virtually no greenfield land available, which means housing supply growth depends almost entirely on infill and renovation of existing stock. The short-term rental market has had an outsized impact on Hobart's housing availability, with a significant share of inner-city properties converted to Airbnb, tightening the long-term rental market and pushing up both rents and prices. Buyers should be aware that Hobart's smaller transaction volumes mean price data can be volatile — a handful of high or low sales in a suburb can swing median figures significantly, so looking at 12-month rolling data rather than quarterly snapshots gives a more reliable picture.