Real es­tate boom

The Gazette (Derwent Valley) - - NEWS - JAR­RAD BE­VAN

PROP­ERTY sales in the Der­went Val­ley were among the best in the state dur­ing the last quar­ter, a REIT re­port has re­vealed.

The Real Es­tate In­sti­tute of Tasmania’s June quar­ter re­port showed the num­ber of house sales in the mu­nic­i­pal­ity were up by 21.3 per cent for the three-month pe­riod.

The Der­went Val­ley’s me­dian house price also grew over the quar­ter by 14.5 per cent. There were 57 sales and the me­dian is now $229,000.

REIT pres­i­dent Tony Col­lidge said it was pleas­ing to see ar­eas like the Der­went Val­ley — along­side the West Ta­mar, Me­an­der Val­ley, North­ern Mid­lands, Cir­cu­lar Head, Cen­tral High­lands and the South­ern Mid­lands — record­ing in­creased sales fig­ures.

Suc­cess sto­ries can be found right across the Der­went Val­ley prop­erty mar­ket, but es­pe­cially in cen­tral New Nor­folk.

Petrusma Prop­erty con­sul­tant Stu­art Ben­son re­cently sold a house in Mon­tagu Street at a record price for a two-bed­room, sin­gle bath­room res­i­dence in the sub­urb.

Mr Ben­son said the 1910 house sold for 100 per cent higher, or $172,500 more, than the me­dian prop­erty price for a two-bed­room prop­erty in New Nor­folk.

“It was also 60 per cent more, or $135,000 higher, than the me­dian price for larger three-bed­room homes in the area,” he said.

Mr Ben­son said de­mand for the prop­erty had been high, with lo­cal, in­ter­state and even some in­ter­na­tional in­ter­est.

“Po­ten­tial buy­ers in­di­cated that this ‘leafy town­ship’ was highly ap­peal­ing thanks to its an­tique stores and grow­ing cafe cul­ture, while be­ing just 30 min­utes to Ho­bart city.

“The home­own­ers were de­lighted with the re­sult, and the pur­chasers, a young New South Wales cou­ple, were

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