Posted on Jan 28, 2021

Property Friends | Property Strategist

Hobart strikes again!
Hobart continues to be the most profitable capital city in terms of dwelling sales, according to CoreLogic.
CoreLogic's latest Pain and Gain Report, which captures the market activity during the September 2020 quarter, showed that 96.6% of dwelling sales in Hobart turned profitable. The city has had retained the highest rate of profitability of all capital cities since March 2018.
Units in Hobart reported a 97.1% share of profit-making sales, higher than the 96.5% for houses. However, in terms of capital growth, houses still performed better.
While Sorell and Derwent Valley council regions saw 100% of properties sell for a profit in the quarter, the Hobart council region has seen the best results for sellers. In fact, Hobart returned a median profit of $285,000, higher than Sorell's $204,000 and Derwent Valley's $141,250.
Overall, values in Hobart ended the year with a 6.1% annual growth to $513,000.
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