Kunama Real Estate Agents and Property Developers | Profits, Affordability and Whack-a-Mole in Downtown Hobart
19866
post-template-default,single,single-post,postid-19866,single-format-standard,ajax_fade,page_not_loaded,,qode-title-hidden,qode_grid_1400,qode-theme-ver-13.7,qode-theme-bridge,disabled_footer_top,wpb-js-composer js-comp-ver-5.7,vc_responsive,elementor-default

Profits, Affordability and Whack-a-Mole in Downtown Hobart

CoreLogic head of research Tim Lawless said Tasmania’s housing markets were likely to continue to be among Australia’s best performers this year. He said with housing credit remaining hard to obtain and affordability constraints becoming more deeply seated, it was likely that Hobart and regional Tasmania’s property market growth would drift lower than the heights of the past few years. News.com.au

 

Hobart rent prices have surged almost 20 per cent in a year as strong demand has some tenants facing the prospect of homelessness. Queues of more than 100 people have been reported at open inspections with estimates the city is at least 5000 rental properties short of what is needed to house its bulging population. The latest data from Rent.com.au has revealed median rent jumped 19 per cent last year, up from $358 per week in December 2017 to $425 in December 2018. The Mercury

 

MORE than 1000 people have signed a petition calling on the Hobart City Council to hold an elector poll on a 60m height limit on buildings in the capital’s central business district. Hobart Not Highrise presented the 1662-strong petition to acting lord mayor Helen Burnet on Friday. The group’s president, Brian Corr, said they were asking people to support the council’s planning officers recommendation to the planning committee on December 10, which was a height limit of 60m for new buildings in the CBD. The Mercury

 

A controversial proposal for a 55-metre-high hotel development in Hobart’s CBD has been struck down by the local council over concerns the building would be too large for the residential area. The council received 1,456 submissions against the proposal, and just three in favour. In a report, council officers warned the proposal would exceed height limits and adversely affect the heritage values of nearby places. The Hobart City Council last night voted 10-1 to refuse the development, in line with a recommendation from council officers to reject it. ABC

 

The Hobart City Council needs to keep the city’s rental crisis in mind as it decides whether new hotels should be approved, Tasmania’s Housing Minister says. Roger Jaensch urged the council to “play its part” in alleviating Hobart’s rental crush as he revealed the government’s private rental assistance program target would not be met and money was now being diverted into building more houses to boost supply. The Mercury

 

Australia’s moderating housing market has failed to make a meaningful dent in housing affordability, with all five of Australia’s major housing markets ranking as “severely unaffordable” in 2018. Despite some of the largest house prices falls in 35 years, Australian house prices relative to incomes are more than double the rate of the early ’80s, with no “affordable” markets. Urban Developer

 

Australia’s top three most in-demand suburbs for renters are all in Hobart. The latest data from realestate.com.au shows rental house listings in Claremont, Glenorchy and Kingston are viewed more than anywhere in the nation. Sandy Bay also cracked the list in 10th place. In data spanning the six months to December 31, 2018, realestate.com.au found Claremont rental listings attracted almost 5000 views and Glenorchy listings were not far behind at 4836. News.com.au

Was this quick read helpful?

Get all the weekly news in just a few minutes by subscribing to our regular updates on property in Greater Hobart.

[contact-form-7 404 "Not Found"]
How much is your home worth?

Get an online appraisal delivered to your phone and email, simply provide the details below and our team will be in touch with an online appraisal of your home. 

[contact-form-7 404 "Not Found"]