The PropTrack Home Price Index for February 2024^ shows prices in Hobart fell 0.12% in February, taking the median dwelling value to $664,000.
Hobart remains the weakest capital city market when comparing annual price growth (-2.26%), as well as the change from peak (-7.99%).
However, this comes after several years of strong growth during the pandemic, which saw affordability deteriorate. Home prices in Hobart are still up 35.9% since March 2020.
Across regional Tasmania, home prices rose by a barely perceptible 0.01%, taking the median value to $506,000.
^ https://www.proptrack.com.au/home-price-index/