Tassie bucks slowing housing market
Tasmania was the only Australian state to experience an increase in property investment intentions in the December quarter, a Wizard Home Loans survey suggests. The results go against the national trend which has seen property investment slowing following two rate rises late last year. Wizard says the Tasmanian market is still so strong it intends to open another five branches there to meet demand. Wizard consumer advocate Lisa Montgomery said while price rises had been dramatic in other states, the increase had been slower and steadier in Tasmania. As a result, Tasmanian prices look like bargains to interstaters. The number of people intending to invest in Tasmania increased to 14,000 in December from 11,000 in September. The national figure was 748,000 in December, down from 851,000 in September.