Hobart Mercury

Hobart sizzles on national hot list

by JARRAD BEVAN

Hobart is home to two of the hottest LGAs in Australia.

The latest Price Predictor Index by Hotspotting named Glenorchy and Kingborough municipalities in its Top 10 markets.

Hotspotting managing director Tim Graham said Glenorchy has become one of the markets to watch in Hobart.

This follows a McGrath report in July that named Glenorchy LGA as No.1 in Australia in its Local Residential Index Winter/26 report.

Mr Graham said Glenorchy houses remain relatively affordable at about $620,000, yet values were up 8 per cent over the past year, while units rose 11 per cent.

“Add extremely tight rental vacancies and significant new investment into the area and there is a fairly compelling demand story developing there,” he said.

Mr Graham noted that Kingborough has “considerable depth” to its market, particularly around Kingston.

He said Kingston recorded more house sales than any other suburb Hotspotting analysed across greater Hobart.

“And rental vacancies are virtually non-existent,” he said.

“That combination of transaction depth and rental pressure tells us there is genuine underlying demand rather than simply price growth driven by a small number of sales.”

The Price Predictor Index methodology tracks rising sales activity as an indicator of future growth, rather than lagging median price data.

Hotspotting’s Thermometer is a live-market pressure score that rates every LGA and suburb out of 100 based on inventory levels, days on market, sold-above-asking activity, vacancy rates and shortterm price momentum.

Glenorchy and Kingston scored 70 out of 100, not far behind Australia’s No.1 LGA, Onkaparinga in South Australia, which scored 77.

Susan Kay, principal at Susan Kay Property Sales & Rentals, confirmed that the Kingborough market has been performing well this year.

However, stock levels are low, Mrs Kay said.

“Well presented properties priced correctly are being snapped up,” she said.

“There is a reluctance to purchase properties that require updating. I attribute this to the cost and time required for renovations.

“However, there are properties that are ripe for an update, familysized homes that people can put their own stamp on.”

Mrs Kay said properties in the $1m to $1.1m range, family homes and homes priced sub-$750,000 are moving well.

“Kingborough caters to a wide demographic, from families to executives to singles — there is something here for everyone,” she said.

“People love the beach lifestyle and close to the CBD.

“There are buzzy coffee shops, restaurants and bars, swimming, kayaking, bike riding, great parks for children, and coastal walks.”

Hotspotting founder Terry Ryder said a jurisdiction breakdown is essential for understanding risk and opportunity.

“Anyone reading the national headline without looking at the jurisdiction breakdown will misread the market,” he said.

“This is not one market moving in one direction — it’s many markets moving at very different speeds at the same time.”

Mr Graham said the disruption environment is reshaping the national map far more unevenly than headline data suggests.

“This quarter lands in the middle of what we call ‘the mother of all disruption periods’,” Mr Graham said.

“Three RBA rate rises, geopolitical trade uncertainty, cost-of-living pressures and federal budget changes have all hit at once, but the impact isn’t uniform.

“Some markets are cooling sharply, while others are still running incredibly hot with our new Thermometer methodology making those differences visible in real time.”