A new rental snapshot forecasts they’re only heading one way.
Analyst Proptrack has found Hobart’s advertised rents rose another 4 per cent in the first three months of the year, the average dwelling now on $520 a week.
The regions weren’t spared, up 4 per cent quarter-on-quarter to $410, an 8 per cent rise on a year ago.
Proptrack is expecting the trend to continue as rental markets around the country remain tight, especially in Hobart and the other capitals which haven’t yet seen the rental uptick from early 2022 ease off.
Analyst Paul Ryan found the state’s West and North West were hit hard with the state’s biggest increase
“Rents there increased by 6.5 per cent for the first three months of 2023, the typical rent there is $373 a week now,” he said.
“That’s higher rent growth than we’d normally expect in a year.”
It’s been blamed on Tasmania’s chronic lack of housing supply, compounded by around 2700 homes siting empty across Hobart, Glenorchy and Launceston.