Ben Humphreys

The Tasmanian property market, like many, is one where change is ever present. In 2024, as the market continues to evolve with new trends and technologies, buyers and sellers are looking for innovative ways to maximise their opportunities. One such option is transacting property off-market.

As we enter the final quarter of 2024, Tasmania’s commercial property market continues to show promising growth, with particular opportunities emerging in key areas such as Launceston.

The Real Estate Institute of Australia (REIA) recently released its Real Estate Market Facts for the June Quarter 2024 and it was full of facts and statistics of varying levels of interest dependent upon one’s inclination toward such things. I have noted some key facts below for reference.

There are very mixed messages within the community and the economy at present. We have housing under supply which is placing upward pressure on house prices and also rents making affordability harder which is further exacerbated by higher interest rates.

Sometimes when you have been doing something for a long time it is easy to take what you have learned for granted, at least that’s what happens to me. Equally, it is nice to speak with people about what they do and the varying aspects of their vocation.

The residential rental market continues to face the headwinds of low vacancy – driven by limited supply of housing, and increasing demand for rental property.Supply is not helped by the lack of available land, constraints such as the physical number of trades available to construct required dwellings.

Most of us are aware of the 80/20 rule, The Pareto Principle, it states that 80% of the effect comes from 20% of causes. For example 80% of your revenue may come from 20% of your customers / clients.

Happy New Year. The Launceston CBD seemed busy pre-Christmas and hopefully that has reflected in a good results for shoppers and local Launceston retailers alike. We saw an amazing daylight finish to the Sydney to Hobart and very good numbers were reported at the much loved Longford Cup.

Inflation, interest rates, war in Europe, conflict in the Middle East, China asserting its’ position across the Pacific and Collingwood winning the Grand Final! There is much going on in the world at the moment that gives you pause for thought.