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
Based on the Hobart median house price of $650,000 with a 20% deposit ($130,000), a loan of $520,000 at 6.20% over 30 years would cost approximately $3,185 per month in principal and interest repayments. Adjusting your deposit size, interest rate, or loan term significantly changes your monthly commitment — use the calculator above to model different scenarios.
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.