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Appetite for Apple Isle property proving unquenchable

Mainland buyers have been taking bites out of the Apple Isle’s juicy property market over the past year but it is the voracious appetite of the locals that is pushing median prices upwards.

Hillside view of Hobart and Derwent River
Hobart is now Australia’s fourth most expensive capital city with the median property price now sitting at $760,000.

Mainland buyers have been taking bites out of the Apple Isle’s juicy property market over the past year but it is the voracious appetite of the locals that is pushing median prices to those worthy of a Michelin-starred restaurant.

If growth rates that have seen prices increase by a staggering 40 per cent since the onset of the pandemic were to continue this year, Hobart would overtake Melbourne’s median property price.

What was not long ago unt…