Rents in Tasmania have increased in all regions, but most significantly in the North-West. In the North West the weighted median rent index for March was $382, an increase of 4.8 per cent to the previous quarter and up 9.9 per cent compared to last year’s March quarter.

The median rents in the South rose to $506, which equals a quarter increase of 4.8 per cent and an annual increase of 4 per cent. In the North the index rose by 1.6 per cent from last quarter to $445, the annual increase was 2.8 per cent.

The most significant increases in rents for 3-bedroom properties were recorded in population centres, including Hobart City, where prices increased by $40 compared to the previous quarter to $640 per week. In Glenorchy City 3-bedroom property rents increased by $20 to $550 and Greater Burnie rents increased from $403 last quarter to $430 in the March quarter.

This quarter also marks 5 years since the start of the COVID 19 pandemic, which saw Australia’s and Tasmania’s borders closed for extended period of times and hence, a significant impact on the rental market.

Despite a substantial decrease in new rents in June 2020, the median rent index today is almost 32 per cent higher than it was five years ago across Tasmania. Although the South has the highest rents in the state the five-year increase has been the lowest with 22.5 per cent. Rents in the North increased by 40.4 per cent and the North West recorded the highest five-year change of 43.1 per cent.

Find the full Tasmanian Rents March 2025 and previous editions here.

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