Cotality's latest Home Value Index, with results to 30 September, shows national home values fell 1.1% in September. That's the sixth monthly fall in a row, and values are now 5.2% below their March peak. Hobart eased too, but by much less than most capitals. Here's what the numbers say and what they mean if you're buying.
Values down 0.5% in September, up 7.0% over the year, with a median of $741,496. One of the steadiest capitals in a falling national market.
| Hobart | Month | Quarter | Year | Median value | Gross yield |
|---|---|---|---|---|---|
| All dwellings | -0.5% | -1.2% | +7.0% | $741,496 | 4.4% |
| Houses | -0.4% | -1.2% | +7.0% | $790,406 | 4.3% |
| Units | -0.7% | -1.2% | +6.7% | $591,795 | 4.8% |
Values are still 2.0% below Hobart's March 2022 peak, but up 90.2% over the past ten years.
Every capital except Darwin went backwards in September. Of the capitals that fell, Hobart had the smallest drop.
The bigger markets are leading this downturn. Cotality says 97% of capital city suburbs fell in value over the three months to September. Hobart hasn't escaped it, but it's moving far more slowly.
Hobart's gross rental yield is 4.4%, level with Canberra and second only to Darwin among the capitals. Units return more (4.8%) than houses (4.3%).
One thing to watch: Hobart now has the highest rental vacancy rate of any capital, at 3.0%, compared with 2.0% nationally. Tenants have more choice than they did a year ago. If you're investing, price the rent realistically and make sure the property presents well. A well-chosen property still leases quickly, but an average one now takes longer.
Regional Tasmania was close to flat in September (-0.1%) and is up 11.6% over the year, with a median of $622,460. Over ten years it has grown 118.8%, one of the strongest long-term results of any region in the country.
Across the capitals, homes are taking a median of 39 days to sell, up from 23 a year ago. Total listings are 23.1% higher, even though fewer new listings are coming on. In plain terms, buyers have more choice and more time.
That shows up in negotiations. When a property has been on the market a while, there's room to negotiate on price, ask for a longer finance or building inspection period, or agree a settlement date that suits you.
It doesn't mean you should wait for the bottom. Nobody picks it, and good properties in good streets still sell quickly. What it does mean is that you have time to do your homework properly and don't have to overpay to secure the right one.
| Your situation | What I'd focus on now |
|---|---|
| Buying a home in Hobart | Use the extra time. Inspect more, compare more, and negotiate on the 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 has held up better than Sydney and Melbourne. Get local eyes on the street, the condition and the price before you commit. |
This is the kind of market where buyers get good outcomes. There's less competition, more choice and more room to negotiate. The fundamentals still decide whether a property is a good buy: the street, the land, the price you pay and the rent it earns. Get those right and the monthly headlines matter a lot less.
Source: Cotality Home Value Index, October 2026 (results as at 30 September 2026).
This article is for general information only and is not financial advice. Figures are from the Cotality Home Value Index (October 2026, results as at 30 September 2026). Please get independent advice before making any property or investment decision.
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