APD Research Memo
Hobart
Improving · High confidence · Strong evidence · 30 August 2026
Conditions read as improving on median rent at $590 against a $512 historical average; price-to-rent multiple at 23 against a 28 historical average; 12-month price growth at -1.4% against a -1.4% historical average; rental growth at 6.3% against a 6.0% historical average.
APD View — Hobart
Hobart: conditions improving
Current data indicates conditions in Hobart are improving. 14 indicators across 5 analytical dimensions inform this reading, with 64% pointing the same way.
Direction
Improving
Confidence
High
Evidence strength
Strong
Direction describes where underlying conditions are moving. It is not a rating, a recommendation or a signal to transact — a market can be improving while remaining expensive, low-yielding or supply-exposed.
Why this confidence — Based on 14 indicators, 60 months of history, 64% of indicators pointing the same way, latest data 29 days old.
Evidence basis — Based on 14 indicators, 1 independent source, 60 months of history. Latest data 29 days old.
What changed
| Indicator | Now | 1 month | 1 quarter |
|---|---|---|---|
| 12-month price growth | -1.4% | -1.5% | -2.0% |
| Advertised listings | 1,544 | 1,612 | 1,686 |
| Days on market | 51 days | 52 days | 56 days |
| Vacancy rate | 1.7% | 1.7% | 1.8% |
| Rental growth | 6.3% | 6.6% | 6.0% |
| Population growth | 1.6% | 1.6% | 1.7% |
| Building approvals | 386.1 | 389.44 | 402.5 |
| Vendor discounting | -3.0% | -3.0% | -3.2% |
What supports this view
- Median rent — $590 against a historical average of $512. Advertised rents sit above the historical average for this market. Historical percentile: 98.
- Price-to-rent multiple — 23.24 against a historical average of 27.93. Prices are low relative to rents compared with the historical average. Historical percentile: 0.
- 12-month price growth — -1.4% against a historical average of -1.4%. Annual price growth is running below its historical average. Historical percentile: 42.
- Rental growth — 6.3% against a historical average of 6.0%. Rental growth is running above its historical average. Historical percentile: 75.
- Sales volume — 702 against a historical average of 598.13. Transaction volumes are running above the historical average. Historical percentile: 82.
- Gross yield — 4.3% against a historical average of 4.1%. Gross yields sit above the historical average for this market. Historical percentile: 70.
What works against it
- Median house value argues the other way — Median house value reads $713,635 against a $737,607 historical average (5th percentile), which works against the current reading.
- Building approvals argues the other way — Building approvals reads 386 against a 339 historical average (63th percentile), which works against the current reading.
- Vendor discounting argues the other way — Vendor discounting reads -3.0% against a -3.1% historical average (65th percentile), which works against the current reading.
- Population growth argues the other way — Population growth reads 1.6% against a 1.6% historical average (37th percentile), which works against the current reading.
- Median house value — $713,635. House values sit below the historical average for this market. Historical percentile: 5.
- Building approvals — 386.1. Dwelling approvals are running above the historical average, pointing to more future supply. Historical percentile: 63.
- Vendor discounting — -3.0%. Sellers are accepting larger reductions from asking price than normal. Historical percentile: 65.
- Population growth — 1.6%. Population growth is running below the longer-run average. Historical percentile: 37.
This memo is research, not personal advice, and does not take your circumstances into account. It describes the direction of underlying conditions on the evidence available and states what would change that conclusion. Methodology · Markets we're watching