Tassie Market Watch - July 2026 - The Hobart / Launceston Magazine

Tassie Market Watch – July 2026

by Stephanie Williams

FIRST HOME BUYERS GRANT DOWN $10,000

The 2026-2027 budget has passed the Tasmania Parliament. First-home buyers in Tasmania are facing the end to two major offerings from their state government. The 2026 Tasmanian state budget confirmed extensions on two popular first-home buyer incentives will be wound up, rather than extended, at the end of the financial year. The temporary boost to the state’s $10,000 First Home Owners Grant – which took the handout to $30,000 in 2021 – is no longer available.

TASSIE OFFERING REAL ESTATE VALUE INTO 2026

In the Real Estate Institute of Tasmania’s (REIT) latest information release about the December 2025 quarter they shared that Tasmania continues to provide some of the most appealing and cheapest property across the nation. Sydney’s median house price in that quarter was exceeding $1.25 million and Melbourne, Canberra, Brisbane, Perth and Adelaide’s median prices were above $825,000. Hobart was offering a lower priced alternative recording Australia’s second lowest median price of $746,000.

Of the regions, Greater Hobart saw an increase in house transactions of 5.5% (to 2115) and a 2.2% increase in median price, as above to $746,000. Launceston house sales numbers grew 8.9% (to 1096) while median price increased from $560,500 to $627,850. The North West recorded Tasmania’s strongest median price growth (up 10.3%) from $485,000 to $535,000 over the year.

A YEAR TO GET IN GEAR

In May, as part of the 2026–27 Federal Budget, the Government announced it would reform negative gearing and capital gains tax (CGT) arrangements. This measure is not yet law (at the time of print).

These changes, which are intended to apply from 1 July 2027, will:

limit negative gearing for residential property investments to new builds
replace the 50% CGT discount for individuals, trusts and partnerships with cost base indexation and a 30% minimum tax rate on capital gains.

The impact of these changes on existing investments will be limited. Properties held at announcement (7:30pm AEST on 12 May 2026) will be exempt from the negative gearing changes, while the CGT reforms will only apply to gains that accrue after 1 July 2027.

PROPERTY LENS

23 Meika Court, Swan Bay

Indicative price: Offers over $719,000

Agent: Melissa Bennett, Harcourts East Tamar

16 Atlas Drive, St Helens

Indicative price: Offers over $845,000

Agent: Gayle MacDonald, L J Hooker St Helens

47 Ringarooma Road, Scottsdale

Indicative price: $499,000 – $559,000

Agent: Mellissa Sarich, The Agency Northern Tasmania

Love this

Extras

Hobart Happenings

by Steph Williams

Bits and Pieces- June 2026

Hobart Happenings

by Steph Williams

Bits and Pieces – May 2026

Bits and Pieces- May 2026

Stay up to date with everything happening at the Hobart Magazine.

Worker shortage is currently universal, there isn’t an industry that’s exempt. For Kelvin Smith, four years ago he decided there was a very obvious solution to the shortage facing the construction industry, and all that was needed was a little time, empathy and a helping hand. Integrate Workforce is a Hobart-based labour company with one requirement: a refugee/ migrant background. He’s also the outdoor piano man in his free time.

Landscape artist and creative Elliott Nimmo is enjoying discovering Hobart’s vibrant art scene and local environment after relocating here from London to pursue his art.

Even though Tasmania is known for its mild summers, it doesn’t take much to get sunburnt. Tasmania experiences extreme ultraviolet (UV) levels, but contrary to popular belief this isn’t due to the hole in the ozone layer, which is actually south of the continent.While higher UV levels often occur at the same time as higher temperatures, the two are not linked. Instead, UV levels are determined by the angle of the sun in the sky: the higher the sun, the higher the UV. In December and January, the position of the sun over Tasmania gives the state a UV index of 11 or more on most days, which is classified as “extreme” on the UV index. Tasmania’s lack of humidity and generally clear skies contribute to the stinging feeling of the sun. UV can reflect off buildings and water, making it possible to get a higher dose of UV from these reflected rays, even in the shade.

Setting up shop during a pandemic was a risky move, but if the crowd at Dāna Eating House (Dāna) on a Friday night is anything to go by, it’s one that’s paid off. With tables of diners chatting and laughing over drinks, the music and conversation buzzes off the monstera-leaf-green walls. Low-hanging rattan lights and worn wooden floorboards give the newly opened South-East Asian fusion venue in Hobart’s CBD a relaxed vibe.

A Holyman flagged ship hasn’t steamed up the River Derwent since 1984 but the company’s name still proudly adorns its former offices at 5 Morrison Street, Hobart.

Widening the Tasman Bridge to allow 3.5 metres on each side is a big win for walkers and cyclists.

Need a laugh? Check out @theinspiredunemployed feed on Instagram.

Rain, hail and shine, the school crossing guards are always there to help with a smile on their face.

It’s hard to believe it’s not standard practice to have a working phone in every aged care room - shared phones make private conversations impossible and increase the risk of spreading COVID-19.

Just when you think your cousins are alright. NZ Opposition Leader Judith Collins took aim at Tassie during her recent (unsuccessful) campaign, calling us Australia’s “poor cousin.” She also seems worried about us nabbing tech businesses, “It’s a lovely part of the world but do you necessarily want to go there with your high- tech business? Possibly not,” she said. We beg to differ!