House prices are on their way down for most of the country but Tasmania is bucking the trend.
The latest Proptrack snapshot reveals Hobart was the only capital city where prices increased for the month of September, up 0.05 per cent, while the combined capitals eased 0.22 per cent.
Proptrack’s Paul Ryan says cooling’s likely to continue in general.
“Interest rates are expected to keep increasing, and we anticipate this will reduce prices throughout spring and into next year,” he said.
“However, we are expecting market activity to pick up through spring, and particularly in October.”
Regional Tasmania and South Australia were the only rural areas to hold their values since the May property value peak, the areas outside of Hobart gaining 0.08 per cent in September.