PARADISE CALLING

House of the week.......................................................6, 7

Commercial...................................................... 46, 47, 48

Open homes................................................................. 44

JARRAD BEVAN

CARLTON has been crowned Tassie’s No.1 suburb to watch for incoming home value growth.

The Green Shoots Report from online lender Well Home Loans ranked Carlton’s house market above the rest as it has shown “the clearest signs” that strong price growth is just around the corner.

“Over the past three months, there have been dramatic falls in inventory levels to under one listing per month and its days on market has reduced by 30.3 per cent,” Wells chief executive Scott Spencer said.

Fall Real Estate agent Jason Andrikonis said there had been a shift in the market with demand for beach and coastal suburbs increasing.

“The landscape has changed from what was popular 10 years ago,” he said.

Mr Andrikonis said eight of his past 12 sales had been to interstate buyers, including one in Carlton that was bought by a Queenslander.

“From first-home buyers to retirees, it is the lifestyle that attracts people to the Carlton and Dodges Ferry area,” he said.

“People have realised that it is paradise, every day feels like a holiday.”

The report ranked Spreyton (houses), Montrose (houses), Legana (units) and Upper Burnie (houses) as its Tassie Top 5.

It revealed a market that was gathering momentum in Spreyton with days on market plummeting by 30.7 per cent, while the median asking price had risen by 3.9 per cent.

Prices look set to keep rising in the Montrose house market with inventory levels very low (under one listing per month), and days on market have tightened by 4.2 per cent. That’s led to a 7.6 per cent jump in the median asking price over the quarter, the report showed.

Of all the unit markets in Tasmania, Legana was showing the “most promising signs” right now.

Over the past three months, inventory levels have fallen from “low to ultra-low”, which will put pressure on potential buyers.

The Upper Burnie house market is heating up with inventory levels falling.

Mr Spencer said to make the list suburbs show a combination of inventory levels decreasing, days on market decreasing and asking prices increasing over the past quarter.

He said the latest report had identified a diversity of promising housing markets, catering to a variety of budgets.

“For many Tasmanians, there might be a nearby housing market where prices look set to accelerate in the not-too-distant future. That provides you with a potential opportunity if you’re thinking about buying,” he said.

“Inventory levels is an important indicator because it tells you whether the balance between supply and demand is trending in favour of vendors or buyers. That’s one clue as to how prices are likely to move.”

To view the report’s full list of Top 10 suburbs visit themercury.com.au/ real-estate