JUNE’S CASH SPLASH
More than 120 Tassie homes have been sold for more than $1m in 2020.
Despite COVID-19, despite doomsday warnings from finance experts and despite the regular old Apple Isle winter which can dull the level of transactions — the market has keep on ticking along.
According to realestate.com.au, last month there were 15 residential sales for $1m or more throughout the state, plus a bunch of farms, land holdings and commercial operations.
But let’s stick to houses and units.
In June, four of these top end sales had prices revealed on the website between $1.075m and $1.31m, with the rest undisclosed at this point.
In May there were 17 million-dollar sales, plus 16 more in April, 24 in March, February was particularly busy with 33 and in January agents sold 16 homes at this level.
Knight Frank sales consultant Abi Freeman sold five homes for $1m or more in June.
She sees her job as not just “selling houses” but also providing the reassurance that people are making the right decisions on their property journey.
During the early stages of the COVID-19 outbreak and beyond, this was vital.
Ms Freeman said part of her approach was to use FaceTime to walk people one-on-one through properties.
“It is all always important to have a connection with people,” she said.
A number of Ms Freeman’s top end sales were sight unseen to interstate buyers. She said with FaceTime they often felt like they had actually visited the property they were interested in.
“Tasmanians that have sold well recently have now switched from sellers to buyers, they are still active in our market,” Ms Freeman said.
“A few buyers think they can find bargains but we are far from that stage at the moment.
“The lifestyle and the quality of homes available in
Hobart are still fantastic value for the price.”
Before Tassie’s most recent property market boom from 2015 to 2018, it was not common for the market to record more than 100 $1m sales in a calendar year.
According to Real Estate Institute of Tasmania data, the first time was in 2010 (104 sales at that level) then a drought of a few years before it happened again.
The state jumped over the 100 mark again in 2015 (109 sales) and never looked back. By 2017 it reached 168, followed by a record-setting 181 in 2018. Last year dipped backwards a little with a still healthy 175 transactions.
With 121 sales in the books already this year, it is fair to wonder where the market will finish up by year’s end. Will it slow through the rest of the year or go the other way and set a new benchmark?
If and when Tasmania’s borders are reopened, what will the impact be — not just on the top end but the middle and most affordable ends of the market, too?
Will spring bring its typical bustling business to the marketplace plus some extra oomph? Time will tell.
To see which Tassie homes sold for more than $1m in June, visit themercury.com.au/real-estate