Real estate agents say the era of FOMO — or fear of missing out — in the Hobart property market is over, with values dropping 7 per cent in 2022, but nothing like the plummet some predicted because of interest rate rises.
abc.net.au/news/hobart-house-values-drop-7-per-cent/101821422A decrease in buyer FOMO — fear of missing out — and rising interest rates have combined to push Hobart property values down by nearly 7 per cent in 2022.Hobart's median house values declined 6.9 per cent in 2022, the third highest drop of any capital city
Hobart dwelling prices declined 5 per cent in the last quarter of 2022, and 1.9 per cent in December alone, according to the latest data from property analysts CoreLogic. The median value of a property in Hobart is now $673,333, still well above the median price of $488,968 recorded in February 2020, just before the pandemic boom.
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