Hobart CBD
Hobart’s Central Business District (CBD) is a vibrant, compact urban centre that combines historic charm with modern convenience. Set against the backdrop of Mount Wellington and the River Derwent, the CBD is a walkable and scenic hub that caters to a wide range of residents—from young professionals and students to retirees and investors. Its streets are lined with heritage sandstone buildings, boutique shops, buzzing cafés, and an evolving mix of contemporary apartments, making it an attractive option for those seeking an urban lifestyle without the congestion of larger mainland capitals. The CBD is also home to two of Tasmania’s most significant institutions: the Royal Hobart Hospital (RHH) and the University of Tasmania (UTAS). The RHH is the state’s largest and most advanced public hospital, employing a substantial number of healthcare professionals and support staff. Its presence ensures constant demand for nearby housing, particularly among medical workers seeking proximity to work. Meanwhile, the ongoing expansion of UTAS’s inner-city campus is reshaping the CBD into an emerging education and innovation precinct. This development is drawing in students, academics, and researchers, which has bolstered demand for rental accommodation and stimulated local businesses. Beyond its institutional strength, Hobart’s CBD offers a culturally rich lifestyle. It is home to iconic destinations like the waterfront precinct, Salamanca Market, and the world-renowned MONA ferry terminal. The area regularly hosts arts and food festivals, and its growing culinary scene—highlighted by local produce, seafood, and cool-climate wines—adds to its appeal. With excellent public transport, short commute times, and access to education, healthcare, and entertainment, the Hobart CBD provides a rare blend of liveability, convenience, and long-term investment potential.

Hobart's Purchasing Demographic
Hobart's Central Business District (CBD) property market is primarily driven by young professionals, downsizers, and investors seeking lifestyle benefits and proximity to amenities. The predominant age group in the area is 20–29 years, with many residents in professional occupations. The CBD's appeal lies in its vibrant cultural scene, walkability, and access to employment hubs, making it attractive to individuals prioritising convenience and lifestyle. Additionally, the area's status as an education hub, home to institutions like the University of Tasmania, contributes to demand for rental properties. ​ Overall, Hobart's CBD property market is characterised by a dynamic mix of residents and investors, all drawn to the area's unique blend of urban amenities and lifestyle appeal.
Hobart Real Estate Market Trends
Over the past three years, Hobart’s property market has demonstrated remarkable resilience when compared to the broader Tasmanian landscape. During the 2022 property boom, the city’s median house price reached a peak of $1,000,000. While this figure dipped slightly to $925,000 by the end of 2023, the market showed strong recovery in 2024, with prices climbing to $1,075,000, according to the Real Estate Institute of Tasmania (REIT). However, by the end of March 2025, the market experienced a mild contraction, with REIT reporting the median house price at $900,000. The unit and apartment sector has also seen its share of volatility. Strong demand pushed the median unit price from $661,000 in 2020 to $776,000 in 2021. By late 2024, prices adjusted to $710,000 in line with broader market corrections. In 2025, however, the market rebounded sharply, driven by renewed investor interest, low vacancy rates, and increasing migration to Hobart’s urban areas. As a result, the median unit and apartment price surged to a record high of $850,000. Overall, Hobart’s real estate market has transitioned from a phase of rapid growth to one of correction, and is now entering a period of stabilisation. Despite ongoing challenges such as elevated interest rates, the city’s strong lifestyle appeal, constrained housing supply, and favourable demographic trends suggest the potential for steady, sustainable growth in the years ahead.
