Launceston Property Sales Update

REAL Estate Institute of Tasmania figures for the June quarter show the state recorded its highest number of property sales for five years.

There were 1913 house sales for the June quarter, which was a 3.5 per cent increase on the previous quarter and a 34.2 per cent increase on the same quarter last year.

"These statistics indicate investors are returning to the market with confidence, along with a steady number of first home buyers, REIT president Peter Bushby said.

Mr Bushby said house sales in Launceston were up 2.1 per cent for the quarter to reach 341 sales, an increase of 36.4 per cent from the same time last year.

"This is the highest number of recorded house sales in Launceston since the December, 2003 quarter.

"Newnham and Trevallyn were the top suburbs for Launceston, making it onto the top 10 highest turnover suburbs for the June quarter.

"First home buyers were the strongest in Launceston from the statewide figures, with 37 per cent of house sales attributed to these buyers."

Mr Bushby said the statewide median house price increased to $285,000, a 5.4 per cent increase for the quarter and a 3.6 per cent increase over the year.

The median house price for Launceston for the June quarter was $259,000.

Municipalities recording the State median house price or higher included Clarence, Hobart, Huon Valley, Kingborough, Meander Valley, Northern Midlands and West Tamar.

Peter Bushby Real Estate
www.peterbushby.com.au

Source; Examiner Newspaper