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Tasmanian property sales on the up

Property sales in Tasmania increased in the last quarter.

Just as the Australian property sector begins to show consistently positive growth it seems that Tasmania is also witnessing an impressive recovery on a smaller scale.

The state capital of Hobart witnessed an 18 per cent rise in sales in the three months to June, according to the Real Estate Institute (REI), which is the highest quarterly increase in three years.

According to statistics across the state sales were up 10.5 per cent, with Launceston witnessing a rise of 34.4 per cent during the quarter.

The median house price in Tasmania also increased by 2.5 per cent in this time period.

Commenting on the results, Adrian Kelly from the REI said: "If this trend continues for the next two quarters, and it should because we're coming into the usual spring-summer selling season which is usually pretty good, then we may have turned a corner."

However, he added that due to the low volume of sales in Tasmania the figures could be slightly skewed.

Posted by Craig Francis

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