Why I Think Greater Hobart Is Worth a Serious Look Right Now
Hobart values are up 9.3% over the year, well ahead of the combined capitals at 6.1%. Add the tightest vacancy rate in the country and a market still below its old peak, and it is worth a closer look.
Hobart gets overlooked, but the fundamentals have quietly held up. Vacancy is around 0.4%, supply is tight, and values are still rising while the big capitals turn.
5.0
Ready to invest without making these mistakes?
Stop wasting time spinning your wheels. Let us handle the strategy, research, sourcing, due diligence, and negotiation so you can build wealth without the stress.
People hear Tasmania and immediately think lifestyle. Nice place to visit, maybe retire. They do not think of it as an investment market.
Hobart is not a regional town. It is a capital city. It is where the Tasmanian government sits, where the major hospitals are, where the university is, where the bulk of professional and public sector employment lives. It functions as the administrative and economic centre of an entire state. And that actually changes the investment case entirely.
The Economy
Greater Hobart has a population of around 207,000 and supports roughly 60,000 jobs. Annual economic output is around $18.2 billion.
What stands out is the industry mix:
- Health Care and Social Assistance: 22%
- Public Administration and Safety: 15.5%
- Education and Training: 11.5%
- Accommodation and Food Services: 9%
- Professional, Scientific and Technical Services: 9%
- Retail Trade: 7.4%
No single sector dominates. Health and government alone account for close to 40 percent of employment. Those jobs do not disappear during a downturn. They are not tied to one company or one project. They are structural.
The rental demand in Hobart is not speculative. It is driven by public servants, healthcare workers, university staff, and professionals who need to live in the city long term.
The Supply Problem
Greater Hobart has around 101,000 dwellings. Annual building approvals are running at roughly 651 per year. That works out to about 0.64 percent of the existing housing base.
That is a very low rate of new supply for a capital city region.
When you combine that with consistent population inflows tied to employment and education, the result is what you see in Hobart right now, low vacancy, limited stock, and sustained pressure on rents. When supply is that tight, it does not take much to push rents up.
What Is Being Built
The infrastructure coming into Greater Hobart is not small.
The Macquarie Point Precinct is the biggest story. The $1.13 billion stadium was approved by the Tasmanian parliament in December 2025 after years of debate. Construction is expected to start in 2026 or 2027, with the venue scheduled to open in 2031 as the home of the Tasmania Devils AFL team and the Hobart Hurricanes. The broader Macquarie Point masterplan, covering stadium, residential, commercial, hospitality and cultural space across a 10-hectare waterfront site, was approved by both state and federal governments in early 2026. The federal government has committed $240 million to the wider precinct.
That is a multi-decade transformation of central Hobart’s waterfront.
Other projects that are funded or underway:
- Hobart Airport runway upgrade: completed August 2025. The $130 million project now allows wide-body aircraft including the Boeing 787 and Airbus A350 to use the airport, opening the door to direct Asian routes. A separate $200 million terminal expansion is currently underway and due for completion in early 2027.
- Royal Hobart Hospital Redevelopment: $130 million
- Macquarie Wharf Upgrade: $240 million
- In the Hanging Garden Redevelopment: $286 million
- Antarctic and Science Precinct at Macquarie Point: $595 million
- Incat Shipbuilding Facility Expansion: $50 million
On the residential side:
- Skylands Masterplan in Clarence: $1.5 billion
- Hobart Showgrounds Redevelopment: $300 million
- Windermere Bay Precinct: $200 million
- Spring Farm Estate, Kingston: $150 million
- Cadbury Experience, Glenorchy: $150 million
What This Means for Property
Conditions are tight across the region. Vacancy is low. Stock on market is limited. Days on market has compressed across multiple suburbs.
And this is happening before any significant price run has occurred across the board. That is actually what you want to see, the demand conditions are building ahead of the price response, not after it.
It is not just one suburb doing the work either. Demand is spread across multiple suburbs and price brackets, which reduces the risk of buying in the wrong spot.
My Take
If I was speaking with an investor today and they wanted capital city fundamentals at a price point they cannot access in Sydney or Melbourne, Hobart would be near the top of the list.
Real employment depth. Supply that is genuinely constrained. And a serious amount of infrastructure now funded, approved and moving.
People think of Tasmania and think of lifestyle. But the investment case does not need the lifestyle angle to work.
5.0 
Based on 13 reviews
Our clients are clients for life.
5.0
Five stars for Ben! Securing my first investment property in regional Vic was a massive milestone, and I couldn’t have done it without Ben’s expertise. From our first conversation, he mapped out a clear strategy tailored to my goals. He has a fantastic knack for keeping things grounded and easy to understand, completely stripping away the overwhelming jargon. The entire process was smooth, highly organized, and transparent. If you’re looking to start your investment journey with someone who truly guides and strategizes with you, Ben is the person to call.
5.0
Ben is extremely knowledgeable about property investing in Australia. I’ve bought multiple properties through his agency, and he made the whole process smooth and stress-free. He started by understanding my situation and came up with a smart strategy that he fine-tuned along the way.
Ben used solid data to pick the right suburbs based on my goals and budget, and clearly explained why each area was a good choice. He handled almost everything – negotiating the price, building and pest checks, conveyancing, finding a property manager – which saved me a lot of time and effort.
What really stood out was how responsive Ben was. He was always available for a chat and gave honest, open advice every step of the way. I highly recommend Ben if you’re looking for a reliable and professional buyer’s agent.
5.0
We had an outstanding experience working with Ben as our lead buyer’s agent. From the very beginning, his professionalism and deep knowledge of the Australian real estate market stood out. He took the time to understand exactly what we were looking for and consistently presented us with options that fit our budget and preferences.
Ben guided us through every step of the purchasing process with transparency and expertise as this was very new to us. He handled all negotiations with confidence, ensuring we got the best possible deal, and was always available to answer any questions or concerns we had, no matter how small. His local insights were invaluable, especially when it came to understanding market trends, property values, and the nuances of different neighbourhoods.
What impressed us the most was his genuine commitment to our needs. It never felt like we were being pushed into a decision. Instead, Ben gave us the space and time to consider each option, providing helpful advice along the way without any pressure.
His co-ordination with realestate agency, agents, solicitors and all ancillary organisations involved in pre and post purchase was exemplary
We couldn’t be happier with our property purchases and the service we received. If you’re looking for a trustworthy, knowledgeable, and client-focused buyer’s agent in Australia, we highly recommend Ben and Liberate Buyers Agency
Nidhi | Equity gained: $1.4 million
5.0
