Hobart's property prices are still booming, but that doesn't mean there aren't bargains to be had — you just might have to factor in flooded floors, peeling paint and missing wall panels.
Claremont-based agent Patrick Moane said an increasing number of so-called"renovators" were being listed to capitalise on favourable market conditions.
"I listed a cheap renovator property in the northern suburbs a few days ago and my phone has been ringing off the hook," he said. Mr Moane said buyers looking to purchase"renovators" were willing to live in their own run-down property, instead of paying high rents."They buy a house, it needs some work because it's not perfect, but at least they have a property."
But Real Estate Institute of Tasmania president Tony Collidge said beauty was in the eye of the beholder. "If it's in a really good location — and someone is prepared to do the work — and they see the value there, by all means, it's up to them," he said.
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