Home value growth in Huon Valley pushes prices 50 per cent higher
THE Huon Valley has topped the charts in CoreLogic’s new Regional Market Update.
Released on Saturday, the report revealed the best performing council areas outside of Hobart and found that the Huon Valley was the best performing municipality in Tasmania. And it wasn’t close.
The Huon’s median house price was about $60,000 higher than the next best council area while its units were about $9000 ahead of the second place region.
It also posted the largest five-year median price changes, a whopping 54.8 per cent for house values and 39.1 per cent for units.
The Huon was also just outside the top three for the largest median change in the past 12 months.
Harcourts Huon Valley agent Karl Gallienne said to a large extent, the Huon Valley has a market of its own, unaffected by what is happening in Hobart and with interest coming from many different sectors.
“We have healthy internal movement, the usual upgrading and downsizing, but the Huon is also a very attractive place for climate and population escapees from interstate,” he said.
“The Valley offers a great option for country living in a beautiful area and a great climate, with only a 30 to 40-minute drive into Hobart.
“Compared to Hobart city’s ups and downs, the Huon Valley always seems to tick along at its own pace regardless.”
The Regional Market Update revealed houses in the Huon Valley $419,258, Latrobe $360,013, Glamorgan/Spring Bay $353,490 had the highest median prices.
Huon Valley led the unit market at $268,228 ahead of the West Tamar $259,139 and Central Coast $258,401.
The most affordable homes were found on the West Coast with houses posting a median of $89,767 and units $79,797. Attractive for investors, the West also recorded the highest gross rental yields for houses 11.6 per cent and units 11.2 per cent.
The largest annual change in median value was in Circular Head 18.8 per cent, Kentish 18.6 per cent, Southern Midlands 15.9 per cent (houses) alongside units on the West Coast 18 per cent, Devonport 13.4 per cent, Latrobe 13.3 per cent.
The largest volume of sales was in Launceston, with 1301 houses and 311 units sold in the past 12 months.