Tassie Market Watch- May 2026

by Stephanie Williams

ANNUAL RESULTS RELEASED BY REIT

The Real Estate Institute of Tasmania (REIT) recently released their December 2025 quarterly update which also meant the 2025 annual data was complete.

As housing supply and affordability dominate the Australian real estate conversation, the Tasmanian real estate market has continued to rebound strongly, recording its largest cumulative value of residential sales ($6.7 billion) ever and its highest number of transactions in four years.

Whilst local prices haven’t kept up with increases recorded by many of our mainland counterparts, activity levels have gone under the radar progressively climbing throughout the year. With Sydney’s median house price exceeding $1.25 million and Melbourne, Canberra, Brisbane, Perth and Adelaide ‘s median prices above $825,000 Hobart is left offering a meaningful alternative recording Australia’s second lowest median price of $746,000. The affordability of Tasmanian real estate on a national scale has reignited the appeal and desirability of Tasmania, spawning significant growth in investor and mainland buyer transactions.

According to the quarterly report, interest rate rises and growing cost of living expenses appear to have had little impact if any on local real estate conditions over the December 2025 quarter. REIT results confirm that 2025 finished strongly with December’s figures (2894 transactions) proving the strongest for the year. Commenting on the December 2025 Report, REIT President Russell Yaxley said that it was pleasing to see that confidence has returned to our markets. “Strong results across all regions are evident. It is pleasing to see significant increases in residential investment activity.”

WHERE’S THE RATE AT?

The RBA cash rate currently sits at 4.10%, with the next RBA decision due on 5 May. Economists are divided on what comes next – some forecasts point to another rate rise, while others suggest the RBA may pause to assess how recent increases are flowing through to households and businesses.

UTAS LAND CAN SELL

After years of community debate, a bill to allow the University of Tasmania to sell some of its Sandy Bay campus land has passed state parliament. Now part of the upper campus above Churchill Avenue, worth around $100 million, will be able to be sold to partly fund a proposed STEM facility. There are also plans to discuss bushland hand back with the Aboriginal Land Council of Tasmania.

PROPERTY LENS

2 Williams Avenue, Queenstown

Indicative price: $310,000

Agent: Nadia Burke, Roberts Real Estate Burnie

180 Parker Street, Devonport

Indicative price: Best Offers Over $749,000

Agent: Vanessa Goodwin, McGrath Devonport

18 Towers Drive, St Leonards

Indicative price: Offers Above $1,569,000

Agent: Larrisa Brickhill, Peter Lees Real Estate Launceston

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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!