First-timers’ delight

WHEN the phone rang to let Georgia and Marcel Swanepoel know they had successfully bought their first home, neither was available to pick it up as work and study got in the way.

Nonetheless, the couple describe the big moment when Mrs Swanepoel’s mum relayed the news as “the best” and “very exciting”.

“It was the best feeling, we didn’t really expect it,” Mrs Swanepoel said.

“We had been knocked back a couple of times and did not want to get our hopes up. But when the news came through it was exciting.”

In the June Home Value Index, CoreLogic revealed another strong month of housing prices for Hobart, with its median dwelling value increasing to $487,827.

Hobart ranked equal first in the nation with a 0.3 per cent change in median dwelling prices in June, first place with 1 per cent growth over the quarter, and third behind Sydney and Melbourne with an annual figure of 6.4 per cent.

Since March, Hobart rents have trended -2 per cent lower for houses and -3.7 per cent for units. But they have increased by more than 30 per cent over five years.

CoreLogic head of research Tim Lawless said a variety of factors had helped protect home values from significant declines, including low stock levels, low interest rates and government stimulus.

The Swanepoels say they were somewhat surprised to hear the Hobart property market had been so resilient, given the impacts of

COVID-19 throughout the community.

Today, the 21-year-olds will get the keys to their Blackmans Bay unit, with wide water views in a sunny neighbourhood.

They spent a year house hunting, more seriously for the last six months, before deciding on the home that they bought in February.

From friends and family to finance brokers and property agents, the couple feel lucky to have had the support of those around them to make their home ownership dream a reality.

“It is possible to get into the market when you are young, and it is not as scary as it sounds if you work hard, save hard and learn from people’s advice,” Mrs Swanepoel said.

When the Swanepoels’ home hit the market, Elders Real Estate Kingborough property representative Cathy Newham said her phone “rang hot”.

And she said the market was definitely picking up.

“With our borders still closed it is interesting to see so many local people looking to purchase a home,” she said.