Could the Apple Isle be the apple of your investing eye?

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The time is right to buy in Tasmania if the results from a recent survey are anything to go off.

Released last week, the results from the most recent CoreLogic RP Data Nine Rewards Consumer sentiment survey, show that the majority of Tasmanian respondents believe both that it is a good time to buy real estate and that property prices in the state will grow over the next 12 months.

According to the survey results, 90% of Tasmanian respondents believe it is a good time to buy property and 60% believe prices will grow over the coming year.

Those numbers are higher than the overall results of the survey, with only 60% of the entire respondents believing it is a good time to buy and only 45% believing prices will grow over the next 12 months.

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Rob Zubin, principal and managing director of Tasmanian based My Property Hunter, said he believes the survey respondents have the correct outlook on the state’s market.

“In terms of price growth  I’d generally agree with them, there are some types of properties, the rural, lifestyle ones that might be unlikely to see growth, but in Hobart especially there are really good prospects,” Zubin said.

“Anywhere within a 10-minute radius of Hobart is attractive, it’s seeing great turnover and people are gravitating to it and over the next 12-18 months I think there will be some great growth.”

Zubin said he wasn’t surprised such a high proportion of Tasmanians believed the time was right to buy given the activity being seen around the state.

“I definitely think it’s a good time to buy and it seems like everybody feels that way,” he said.

“Were seeing greater turnover than we usually would and open houses are seeing huge numbers of people come through them.”

It’s not just Tasmanians who are looking to buy in the Apple Isle either according to Zubin, with buyers from mainland Australia heading south.

“We’re definitely seeing more and more people come down here, both owner-occupiers and investors.

“We’re getting a lot of people who just want a more relaxed lifestyle and then there’s a growing number of people who are priced out of Sydney and Melbourne.

“They’re looking here and realizing while there may not be the same level of growth, there’s definitely better value for money and they’re willing to make that trade off.” 

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