News and Views

Rents are rising at an increasing rate and hit new heights in the December 2021 quarter, with remote areas seeing the biggest increases.

We have recorded a trifecta of infamous firsts:

  • Tasmanian weighted median rents are over $400 for the first time;
  • The median rent for a 3-bedroom property in Hobart City hit the $600 mark for the first time;
  • Weighted median rents in Southern Tasmania are over $450 for the first time.

The only outlier in this quarter’s steep upward trend is the North West, where weighted median rents have hardly moved for three consecutive quarters. While the cost of 3-bedroom homes still rose, all other sized homes were rented for lower prices than before in most areas.

The highest increases in rent to the previous quarter have been recorded in remote areas of the Central South (up 11% for 2-bedroom properties and 8% for 3-bedroom properties) and the West Coast (up 15% for 2-bedroom properties and 8% for 3-bedroom properties).

Find the full Tasmanian Rents December Quarter 2021 report here.