Tasmania’s real estate strength defies national downturn

John McGrathUpdated 7 Aug 2026, 9:11amFirst published 7 Aug 2026, 6:00amAdd as a preferred source on GoogleIt was encouraging to read this month’s data for Tasmania’s property market, with the Apple Isle’s quiet achievements continuing even as the national sector slows. Compared to Melbourne, Sydney and Canberra, Hobart, Launceston and Devonport have performed quite strongly in the past year, and especially the past quarter.The latest data shows Hobart’s $756,951 dwelling median followed a 1.4 per cent monthly uptick in July – second only to Darwin’s 2.4 per cent – while its annual values increased 9.3 per cent. This amounts to only a 0.7 per cent drop from Hobart’s price peak of $731,849 in March 2022.The city’s annual rental growth of 8 per cent was the third highest in the country, after Darwin and Perth, as was its 4.3 per cent gross rental yield.MORE: ‘Generational’ site for sale — could hold 200 homesReal estate guru John McGrath said the results for Tasmania’s property market are encouraging.Growth in Tasmania’s regions, including Launceston and Devonport, has been significant too. Launceston’s $598,000-$675,000 dwelling median has seen a 12 per cent to 15 per cent increase ...