In the latest Tasmanian Rents we see a clear downward trend in rent prices compared to the March quarter, which is normal for June quarters when the seasonal curve applies. The seasonal cycle of the (southern) Tasmanian rental market had been interrupted during the COVID-19 pandemic but returned in 2023.

This quarter presents some of the smallest changes in rent prices we have seen over the past five years with 3-bedroom median rents in most areas changing by $2-$10, if they are changing at all. An outlier here is the median 3-bedroom rent in Hobart, which decreased by $27 compared to the last quarter.

Overall rents in the North and South of Tasmania decreased compared to the last quarter, only in the North West did the weighted median rent index increase by 3.3 per cent.

Rents are still increasing compared to the June quarter of last year, but the increases are modest with rents in the South up by 1.5 per cent, in the North by 3.2 per cent and in the North West by 4.6 per cent.

Find the full report here.

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