Buyers increasingly target escape-to-nature lifestyles, says Michelle Ciesielski from McGrath Estate Agents. Picture: Supplied
Glenorchy is the best municipality in Australia.
This was a major finding in a national property report from real estate network McGrath Estate Agents.
The Local Residential Index Winter/26 ranked Glenorchy at No.1, Launceston second, and featured three more Tassie locales in the Top 10 nationwide among 191 markets analysed for the report.
The report cited Glenorchy’s strong property performance in the year ending Q1 2026 for its pole position on the property grid.
“The market recorded 22 per cent growth in sales, when it took an average of 23 days to sell a home,” it said. “During this time, prices grew 15.2 per cent and weekly rents were 9.9 per cent higher, taking the gross rental yield to 4.67 per cent.”
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Real Estate Institute of Tasmania president Russell Yaxley.
Wearing two of his hats, Russell Yaxley said he was thrilled with Glenorchy’s results.
“As Deputy Mayor of Glenorchy, I’m very proud to see Glenorchy coming out number one, it shows that it’s a great place to live,” he said.
“From a Real Estate Institute of Tasmania president’s perspective, with Glenorchy one and Launceston two, that’s a state market performing well in the north and south.
“This reflects genuine demand for cities that offer real affordability without giving up their connection to lifestyle, community and everything that makes living in Tasmania worthwhile.”
Glenorchy, Launceston Meander Valley, George Town and Devonport all produced double-digit growth in sales activity, the report found.
Over the year, they averaged less than 33 days to sell a home while rental growth exceeded 5 per cent.
PRD Hobart has No.1/243 Tolosa St, Glenorchy on the market for $680,000. Picture: realestate.com.au
No.15 Frome St, Glenorchy is for sale for $420,000-plus with 4one4. Picture: realestate.com.au
McGrath head of research Michelle Ciesielski said Tasmania’s strong results were drawing more people to the “relatively affordable, slower-paced lifestyle”.
Ms Ciesielski said local residential markets had demonstrated strong underlying momentum across the Australian east coast prior to the triple cash rate hikes and property tax reform being announced, with the majority of markets recording rising sales activity and faster selling times.
“Regional markets continue to outperform, accounting for nine of the top 10 locations this quarter,” she said.
“Tasmania was the standout, led by Glenorchy and Launceston as buyers increasingly target escape-to-nature lifestyles in more affordable markets.”
McGrath Estate Agents national head of research Michelle Ciesielski.
Ms Ciesielski said while capital growth has been widespread, the real story is the rental market.
“Elevated demand is driving strong rental growth across nearly all regions, even as yields remain more selective, which highlights the ongoing supply-demand imbalance,” she said.
MCGRATH LOCAL RESIDENTIAL INDEX
1. Glenorchy
2. Launceston
3. Horsham
4. Meander Valley
5. George Town
6. Cairns
7. Devonport
8. Warrnambool
9. Burdekin
10. Wagga Wagga
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