Blackmans Bay
Blackmans Bay, located in the picturesque southern suburbs of Hobart, Tasmania, has remained resilient amidst broader market trends. The suburb is highly sought-after due to its stunning natural surroundings, family-friendly atmosphere, and proximity to both the city and the coast. Blackmans Bay offers a desirable mix of beachside living, excellent schools, and easy access to essential services, making it ideal for families, retirees, and professionals alike. Its scenic beauty, with beautiful beaches, nature reserves, and walking tracks, continues to attract those seeking a tranquil lifestyle. The suburb also boasts a close-knit, welcoming community that appeals to both first-time buyers and those seeking a change of pace.
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The ongoing demand for properties in Blackmans Bay, combined with its limited housing stock, has helped maintain stable prices even as other regions of Tasmania experience market corrections. With its unique combination of location, natural beauty, and community appeal, Blackmans Bay remains a standout suburb in the greater Hobart area.
Blackmans Bay's Purchasing Demographic
Blackmans Bay’s purchasing demographic reflects a stable, family-oriented community with strong levels of homeownership and long-term residency. According to the 2021 Census, approximately 76.8% of homes in the suburb are owner-occupied — with 41.8% owned outright and 35% owned with a mortgage — while only 21.5% of properties are rented. This high rate of owner-occupancy suggests a population that is deeply invested in the area, both financially and socially, contributing to the suburb’s ongoing stability and appeal.
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The typical buyers in Blackmans Bay are young and established families seeking a coastal lifestyle with access to quality schools, parks, and community facilities. The area’s safe, suburban feel and proximity to Hobart (just 15–20 minutes by car) make it particularly attractive for professionals who want to balance work commitments with a relaxed, seaside lifestyle. Retirees also make up a notable portion of the market, drawn by the peaceful environment, ocean views, and well-serviced local amenities.
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With a median age of around 42 years, the suburb has a mature but dynamic resident base. Most households are couple families, often with children, which aligns with the demand for larger family homes and properties with outdoor space. These demographic trends — combined with the suburb’s lifestyle appeal and consistent buyer interest — have helped support ongoing demand and price resilience in Blackmans Bay, even during broader market fluctuations.
Suburb Market Trend
According to data from the Real Estate Institute of Tasmania (REIT), the median house price in Blackmans Bay has experienced notable growth over the past five years. In 2020, the median house price sat at $640,000. By 2022, this figure had surged to $837,000, marking a significant 30.8% increase in just two years. This sharp rise mirrored a broader trend observed across Tasmania during the COVID-19 pandemic, driven by record-low interest rates, increased buyer competition, and a wave of lifestyle-driven relocations as remote work became more common.
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While many areas across Tasmania have since experienced a market correction — with some regions seeing an average decline of around 15% — Blackmans Bay has remained comparatively resilient. In 2023, the suburb’s median house price dipped only slightly to $825,000, representing a modest 1.4% decrease from the 2022 peak. This minor fluctuation highlighted Blackmans Bay’s stability and sustained buyer demand, even as broader market sentiment cooled.
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In 2024, the market rebounded again, with the median price rising to $878,000, an increase of 6.4% year-on-year. This return to growth reinforced Blackmans Bay’s position as one of Hobart’s most sought-after coastal suburbs, offering a strong lifestyle appeal, good schools, and proximity to the CBD — factors that have continued to attract both families and professionals.
However, this upward trend moderated in the 2025 market. As of May 2025, REIT reported that 47 homes had sold in the suburb, with the median price sitting at $840,000 — a 4.3% decline from the 2024 peak.
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Despite this recent softening, Blackmans Bay continues to demonstrate long-term strength and resilience. Compared to other Tasmanian suburbs, where price drops have been more substantial, Blackmans Bay’s small correction reflects a healthy, stabilising market rather than a downturn — positioning the suburb well for sustained future demand.
