Hobart’s property market has remained steady over the year, as a whole. Nestled between the foothills of Mt Wellington and Sandy Bay, the suburb of Sandy Bay has held a median house price of $621 thousand over this 12 month period, well above the Hobart average of $479 thousand. In the northern suburbs, just next to the world famous MONA art gallery, Berriedale has recorded outstanding auction clearance rates of 100%, with statistics showing that real estate commission is likely to stay on trend, with median house prices hovering around the city average.
Hobart and the rest of Tasmania have no regulations on real estate commission, allowing rates to be relatively high in rural suburbs, like Molesworth and its conservation area, to the north west, where low property value and fewer competing agents are a factor. In metropolitan North Hobart, real estate commission is historically lower, due to its higher unit prices and competitive real estate industry.
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