News Corp Australia
Updated 14 Mar 2026, 12:01pm
First published 13 Mar 2026, 1:26pm
Buying a house is a challenge in Hobart for singles especially, says Canstar’s Sally Tindall. Picture: Supplied
Tasmanian househunters are almost priced out of the Hobart property market, new data has revealed.
Research by comparison site Canstar using PropTrack data reveals the minimum annual salary required to buy a typical house, with the majority out of reach for single buyers.
Australian Bureau of Statistics data shows the average Tasmanian weekly full-time wage is $1793, or $93,236. That’s about $217 per week below the national average.
When purchasing by themselves, a person with this income level would be locked out of all but six Hobart suburbs.
Canstar found the before-tax income required to borrow 80 per cent of a median property’s value would allow these purchasers to buy in Bridgewater, Risdon Vale, Clarendon Vale, New Norfolk, Primrose Sands and Chigwell.
Claremont, Warrane, Glenorchy? All too expensive.
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Canstar data insights director Sally Tindall.
For a couple who both earn the average income, options increase substantially.
With $186,472 in income, there were 46 suburbs available and only three that were too expensive: Tranmere, Sandy Bay and Battery Point.
In the 49 Hobart suburbs in Canstar’s analysis, repayments as a percentage of before-tax income was on average about 30 per cent.
There were 22 suburbs where the repayments stretched higher, up to 37 per cent of income, and would be considered a stressed mortgage.
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Canstar.com.au’s data insights director, Sally Tindall, said the research confirms a brutal reality.
“The dream of owning your own home has decoupled from the average wage in many locations,” she said.
“The gap between the income required to buy into many housing markets and what Australians actually earn is widening.
“Interest rate hikes have lifted the income needed to service a loan, while rising property prices have increased the size of the loan required in the first place.
“Together, that’s a double hit. Salary growth, by comparison, has not been able to keep up for many people.”
No.36 Sandpiper Dr, Midway Point is for sale with Fall Real Estate, priced at $835,000-plus.
No.14A Vasili Ct, Oakdowns is listed with Harcourts Signature at $615,000-plus.
Real Estate Institute of Tasmania president Russell Yaxley said first homebuyers in Hobart might buy as a single or couple, with couples having a clear advantage.
“Many first home buyers purchase as couples because they can combine their income, which increases their borrowing capacity, and makes entering the market more achievable,” he said.
“A first home isn’t a forever home. People often start with something more affordable and upgrade or upsize later as their circumstances change.”
Mr Yaxley said the current market is “tight” when it comes to affordable properties, with strong competition and demand from first-time buyers, investors and downsizers converging in the same price bracket.
He said units are a practical option for some young buyers as they’re often more affordable than houses.
“We need to broaden our thinking about housing,” he said.
“Self-contained studios, apartments and medium density housing will increasingly become part of the solution as Tasmanian cities, towns and suburbs grow and affordability pressures continue.”
Real Estate Institute of Tasmania president Russell Yaxley.
The Reserve Bank’s interest rate decision next Tuesday has the potential to decrease what people can borrow.
Three of Australia’s four biggest banks are predicting three interest rate hikes in a row, as inflation nudges 5 per cent.
Ms Tindall said for the average income earner on a full-time wage, a 0.25 percentage point hike to the cash rate translates into a $12,000 drop in the maximum amount they can borrow from the bank.
“Not a deal-breaker for most, in isolation, however, a series of hikes could put the goalposts out of reach for already stretched buyers,” she said.
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| INCOME NEEDED TO BUY HOUSE | ||||||||
| Suburb | Median | Monthly mortgage | Singles before-tax income required | Singles loan percentage of income | Couples loan percentage of income | |||
| Bridgewater | $470,000 | $2,254 | $83,000 | 33% | 25% | |||
| Risdon Vale | $482,500 | $2,314 | $85,000 | 33% | 25% | |||
| Clarendon Vale | $492,500 | $2,362 | $86,000 | 33% | 25% | |||
| New Norfolk | $490,000 | $2,350 | $86,000 | 33% | 25% | |||
| Primrose Sands | $507,500 | $2,434 | $88,000 | 33% | 26% | |||
| Chigwell | $550,000 | $2,638 | $93,000 | 34% | 27% | |||
| Claremont | $580,000 | $2,782 | $97,000 | 34% | 27% | |||
| Warrane | $585,000 | $2,806 | $97,000 | 35% | 28% | |||
| Glenorchy | $600,000 | $2,878 | $99,000 | 35% | 28% | |||
| Brighton | $625,000 | $2,998 | $102,000 | 35% | 28% | |||
| Lutana | $633,500 | $3,039 | $103,000 | 35% | 28% | |||
| Mornington | $630,000 | $3,022 | $103,000 | 35% | 28% | |||
| Berriedale | $650,000 | $3,118 | $105,000 | 36% | 29% | |||
| Moonah | $650,000 | $3,118 | $105,000 | 36% | 29% | |||
| Rokeby | $650,000 | $3,118 | $105,000 | 36% | 29% | |||
| Rosetta | $650,000 | $3,118 | $105,000 | 36% | 29% | |||
| Midway Point | $653,000 | $3,132 | $106,000 | 35% | 28% | |||
| Montrose | $655,000 | $3,142 | $106,000 | 36% | 29% | |||
| Austins Ferry | $670,000 | $3,214 | $108,000 | 36% | 29% | |||
| West Moonah | $676,500 | $3,245 | $109,000 | 36% | 29% | |||
| Carlton | $704,000 | $3,377 | $112,000 | 36% | 29% | |||
| Old Beach | $720,000 | $3,453 | $114,000 | 36% | 30% | |||
| Sorell | $720,000 | $3,453 | $114,000 | 36% | 30% | |||
| Dodges Ferry | $742,000 | $3,559 | $117,000 | 37% | 30% | |||
| Kingston | $749,000 | $3,593 | $118,000 | 37% | 30% | |||
| Oakdowns | $743,500 | $3,566 | $117,000 | 37% | 30% | |||
| Geilston Bay | $770,000 | $3,693 | $120,000 | 37% | 30% | |||
| Lindisfarne | $781,500 | $3,748 | $122,000 | 37% | 31% | |||
| Lauderdale | $790,000 | $3,789 | $122,000 | 37% | 31% | |||
| Howrah | $807,500 | $3,873 | $125,000 | 37% | 31% | |||
| Lenah Valley | $800,000 | $3,837 | $124,000 | 37% | 31% | |||
| South Hobart | $847,500 | $4,065 | $129,000 | 38% | 32% | |||
| Blackmans Bay | $877,500 | $4,209 | $133,000 | 38% | 32% | |||
| Margate | $865,500 | $4,151 | $132,000 | 38% | 32% | |||
| North Hobart | $880,000 | $4,221 | $133,000 | 38% | 32% | |||
| Bellerive | $885,500 | $4,247 | $134,000 | 38% | 32% | |||
| New Town | $883,000 | $4,235 | $134,000 | 38% | 32% | |||
| Cambridge | $916,250 | $4,395 | $138,000 | 38% | 32% | |||
| Mount Nelson | $937,500 | $4,497 | $141,000 | 38% | 33% | |||
| Mount Stuart | $945,000 | $4,533 | $142,000 | 38% | 33% | |||
| West Hobart | $937,500 | $4,497 | $141,000 | 38% | 33% | |||
| Richmond | $960,000 | $4,605 | $144,000 | 38% | 33% | |||
| Taroona | $950,000 | $4,557 | $143,000 | 38% | 33% | |||
| Sandford | $1,106,000 | $5,305 | $164,000 | 39% | 34% | |||
| Seven Mile Beach | $1,106,500 | $5,307 | $164,000 | 39% | 34% | |||
| Kingston Beach | $1,125,000 | $5,396 | $167,000 | 39% | 34% | |||
| Tranmere | $1,210,000 | $5,804 | $178,000 | 39% | 35% | |||
| Sandy Bay | $1,350,000 | $6,475 | $198,000 | 39% | 36% | |||
| Battery Point | $1,635,000 | $7,842 | $243,000 | 39% | 37% | |||
| Source: Canstar figures based on 20 per cent deposit, including rate hike in February and May | ||||||||
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