Cotality's latest Home Value Index, with results to 31 October, shows national home values fell 1.2% in October. That's the seventh monthly fall in a row, and values are now 6.7% below their March peak. Hobart went the other way. It was one of only two capitals where values rose. Here's what the numbers say and what they mean if you're buying.
Values up 0.5% in October, up 5.5% over the year, with a median of $743,854. One of only two capitals to rise this month.
| Hobart | Month | Quarter | Year | Median value | Gross yield |
|---|---|---|---|---|---|
| All dwellings | +0.5% | -0.3% | +5.5% | $743,854 | 4.4% |
| Houses | +0.6% | -0.2% | +5.6% | $796,892 | 4.3% |
| Units | -0.2% | -1.0% | +4.9% | $583,908 | 4.9% |
Houses did the work this month, up 0.6%, while units slipped 0.2%. Hobart values are now 1.5% below their March 2022 peak, and up 87.5% over the past ten years.
Six of the eight capitals fell in October. Only Hobart (+0.5%) and Darwin (+0.6%) rose.
Cotality puts the weakness down to affordability, higher interest rates, low confidence, cost-of-living pressure and the Federal Budget changes. Hobart is feeling the same headwinds. It just never ran as hot as the mid-sized capitals did, so it has less to give back.
Cotality ranks the Greater Hobart regions by growth over the past 12 months. The more affordable outer areas led the way.
| Region | Median value | 12-month change |
|---|---|---|
| Brighton | $685,671 | +13.5% |
| Hobart North West | $655,688 | +10.0% |
| Sorell - Dodges Ferry | $682,138 | +7.5% |
| Hobart South and West | $892,259 | +6.9% |
| Hobart North East | $793,126 | +5.4% |
| Hobart Inner | $892,876 | -0.5% |
The gap is clear. The regions with medians under $700,000 grew the fastest, while inner Hobart, the most expensive area, went slightly backwards.
Hobart's gross rental yield is 4.4%, level with Canberra and second only to Darwin among the capitals. Units return more (4.9%) than houses (4.3%).
Rents are still rising. Cotality's figures show Hobart house rents up 9.0% over the year and unit rents up 6.2%. For house rents, only Darwin is growing faster.
Nationally, though, the rental market is loosening. The national vacancy rate rose to 2.3%, the highest since January 2022, and vacancies are higher than a year ago in every capital except Darwin. If you're investing, price the rent against real comparables and allow for a few extra weeks of vacancy.
Regional Tasmania eased 0.3% in October and is up 9.6% over the year, with a median of $616,155. Over ten years it has grown 115.6%, one of the strongest long-term results of any region in the country.
Burnie-Ulverstone (+12.8%, median $580,836) and Launceston (+11.9%, median $668,417) led regional Tasmania over the past 12 months.
Across the capitals, homes are taking a median of 39 days to sell, the longest since August 2020. Vendors are discounting by 4.7% on average, the most since May 2019. Listings are at their highest for this time of year since 2019, even though fewer new listings are coming on.
In plain terms, buyers have more choice, more time and more room to negotiate. That can mean a better price, a longer finance or building inspection period, or a settlement date that suits you.
Hobart is steadier than the bigger capitals, so don't expect the same discounts here on the best properties. Good homes in good streets are still selling. What has changed is that you can do your homework properly and don't have to rush.
| Your situation | What I'd focus on now |
|---|---|
| Buying a home in Hobart | Inspect more and compare more. Negotiate hardest on properties that have been listed for a few weeks. |
| Investing | Check the rent against real comparables, not the agent's estimate, and allow for a few extra weeks of vacancy in your numbers. |
| Buying from interstate | Hobart is up over the year while Sydney and Melbourne are down. Get local eyes on the street, the condition and the price before you commit. |
Hobart rising in a month when most of the country fell tells you this market moves at its own pace. Buyers still have the upper hand on choice and time, but the right property at the right price won't sit around for long. Focus on the fundamentals: the street, the land, the price you pay and the rent it earns.
Source: Cotality Home Value Index, November 2026 (results as at 31 October 2026).
This article is for general information only and is not financial advice. Figures are from the Cotality Home Value Index (November 2026, results as at 31 October 2026). Please get independent advice before making any property or investment decision.
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