Will Launcheston Continue To Show Housing Growth In The Next 12-24 Months
The Real Estate Institute of Tasmania’s June quarterly report has seen The Examiner Newspaper reporting on median house prices increasing by 16.1% in the last 12 months.
There are a number of factors which have caused this increase with the main being the lack of stock in the marketplace and due to demand, there is increased competition between buyers.
Lack of stock has been created by first home owners keeping their home and using the equity to purchase their second, whilst low-interest rates and increased rental returns and making housing investment a smart long-term strategy for investments compared to other strategies such as shares.
I agree that growth will continue to happen over the next 3-4 years in Launceston. Further capital development is driving this within our region, and Launceston is fast becoming a city of choice for lifestyle (semi-retirees & retirees) and families both locally and from interstate.
A word of advice for buyers who are worried about missing out on purchasing a home… and my advice is simple: there are always houses for sale and patience is the key to find the perfect home.
Interested to know what your home is worth? I have no doubt you’ll be surprised. Message me and we arrange a time to catch up!
What are your thoughts? Will Launceston continue to surge or do you feel the tide will turn sooner than anticipated?