Propertyology’s Simon Pressley with hotspot Burnie in the background. Picture: Supplied
Two capital cities and 14 townships recorded median house price growth of 700 per cent or more in the last 25 years.
New research by Propertyology shows Burnie is Tasmania’s star performer and the fifth-best growth market in Australia.
Over the quarter-decade, this North West Coast hotspot recorded an eye-watering growth figure with house values climbing by 785 per cent.
Real Estate Institute of Tasmania figures show a similar story with the typical price of a Burnie home in 2001 being $77,000. Last year, the median was a record high $540,000.
Hobart was the lone city alongside Brisbane to make the cut. Northern hubs, Launceston and Burnie, were ranked even higher than Hobart. Launceston increased by 750 per cent, while Hobart house prices grew by 700 per cent, Propertyology found.
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No.17 Taroona Ave, in Burnie suburb Shorewell Park offers four bedrooms and two bathrooms for $689,000-plus. Picture: Supplied
Jenrew Real Estate has No.24 Jones St, Burnie on the market seeing $849,000-plus. Picture: Supplied
One Agency Burnie director, Matt Grice, said 2025 was a big year for Burnie.
Mr Grice described it as “very hot”, with most properties below $600,000 receiving multiple offers.
“Investors are very much alive in our market, they are snapping these properties up,” he said.
“It will be interesting if this slows down when the anti-money laundering laws come in this year.”
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Jenrew Real Estate directors Andrew and Jenna Miles agreed that mainland purchasers are a driving factor in the Burnie market.
“The 2025 market was driven by syndicates of interstate investors working collectively with buyer’s agent groups and some local investors,” he said.
“The price ranges earlier in the year — high $300,000s and early $400,000s — started to inflate as supply, driven by demand, was quickly becoming exhausted.
“Multiple offers followed for any property listing fitting the criteria of location, features, and yield, and general inquiries for these properties have shown some of the strongest levels we have seen in our combined 40-plus years as property agents.”
Jenrew Real Estate directors, Jenna Miles and Andrew Miles. Picture: Supplied
Mr Grice said Burnie had enjoyed an early 2000s boom, followed, 10 years ago, by a stable market where homes took longer to sell.
“Five years back, we had huge interest from ‘Covid buyers’, particularly from Victoria, and we saw a big rise in prices with less stock available to sell.
“Burnie is a great city, so having the real estate market hot is really nice for Burnie.”
Mrs Miles said seeing Burnie being touted as one of the best investment locations in the nation, came as no surprise.
“Burnie has beautiful coastal scenery, fitness paths and infrastructure, industry, a gateway to West Coast mining, then there is the redevelopment of Burnie’s hospital facilities, and some strong future commercial development earmarked for our precinct which shows faith and sincere confidence for the future,” she said.
One Agency Burnie director Matt Grice. Picture: Supplied
Propertyology managing director Simon Pressley’s research showed a typical Australian house was worth $210,000 at the start of the 25-year period.
The combined capital city average house value has produced phenomenal growth to be worth $1.18m by the end of 2025, he said.
Capital growth of 540 per cent in Sydney’s property market was slightly below the 560 per cent national average, while Melbourne (485 per cent) was further down the list.
“The purpose of us looking back in time is to deepen the level of knowledge and understanding,” Mr Pressley said.
“We acquire evidence to appreciate the umpteen factors that influence growth, as well as the very tangible factors which we can define risk by.
“Studies like this help us to know what to focus on when making important decisions about the future.”
Propertyology’s head of research Simon Pressley.
As for the next 25 years, Mr Pressley said it was entirely possible that many of Australia’s 400-plus townships could produce growth of 700 per cent or more.
“No one has a crystal ball. But I guarantee that every city will (again) have some lean periods and some extremely prosperous periods, primarily influenced by whatever each city’s economy does each year,” he said.
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