Hobart harbour
Beautiful Hobart harbour is booming. Photo – Canva.
  • Hobart has the tightest property market, with only 4 weeks of stock
  • Sydney and Adelaide have around 6 weeks of stock available
  • The easiest market is Brisbane, with more than 10 weeks of stock currently

In a sign of the continued booming Tasmanian property market, Hobart only has 4 weeks’ worth of housing and unit stock for sale currently.

In the most recent CoreLogic data, which collects 85% of all private treaty (non-auction) property sales across the country, 168 houses and 36 units sold last week in the island’s capital.

This amounts to about a quarter (204) of the total available properties for sale (822). If they kept selling at around 200 a week, then there’d be nothing left inside a month, assuming no more stock came onto the market.

The amount of stock on the market in Hobart is down 20.3% over the past year, as it is in most other capital cities in Australia, bar Melbourne (down just 2.3%).

The number of new listings coming onto the market was 331 in the period up to 14 March 2021, according to CoreLogic. This should help top up the market nicely, as it is equivalent to 40% of available stock, but it also shows how fast properties are flying off the shelves.

Capital cities properties for sale

Capital cities properties for sale
Source: CoreLogic

Elsewhere, Adelaide is the second most lowly stocked city, with about 6 weeks of stock on the market at current rates of sale. 5,470 houses and units are listed, and 916 sold last week.

Sydney is also a relatively undersupplied market with just over 6 weeks of stock, with 19,701 available property listings and 3,087 sales last week.

Capital cities Weeks of Stock

Weeks of Stock
Source: CoreLogic data, The Property Tribune calculation

~~

Before investing in any asset, please do your own independent research, taking into account your own personal financial situation. This article does not purport to provide financial advice. See our Terms of Use.



You May Also Like

Australian building costs have continued to soar, but has your insurance cover kept pace?

MCG Quantity Surveyors analysis found underinsurance could cost homeowners over $100K to replace a property, with the issue even more profound in the commercial property sector.

When will Australian property prices fall? One major challenge continues to prop prices up

Property prices are up by over 35% across the country since Covid, and while not the same story in each city, that’s little solace to prospective buyers pulling their hair out.

A window of opportunity could be open for savvy Australian property investors, but time is ticking

One expert has noticed investors are on the move while there’s less competition and fewer buyers in the marketplace.

Why Aussie property buyers aren’t waiting for rate cuts anymore

A surge in home loans shows buyers aren’t waiting for interest rates to drop before taking the plunge.

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Thinking of borrowing for a new home? We decode the home loan lingo and explore ...

We take a look at everything from principal and interest to rates and more.

A window of opportunity could be open for savvy Australian property investors, but time is ...

One expert has noticed investors are on the move while there's less competition and fewer buyers in the marketplace.