Tasmania’s Property Market by the Numbers: Understanding the Opportunities Across the State

Tasmania’s property market continues to evolve, driven by population growth, housing demand, and ongoing residential development. Whether you’re a homeowner, investor, landlord, or prospective buyer, understanding the scale and makeup of the market can provide valuable insight into where opportunities exist.

Based on current housing and construction trends, Tasmania is estimated to have approximately 275,000 residential dwellings, with thousands of additional homes expected to be delivered over the coming years.

Maddi Clark of Roberts Launceston

Who Owns Tasmania’s Homes?

Tasmania remains a predominantly owner-occupied state, but the rental sector plays an increasingly important role in the housing market.

Estimated dwelling ownership across Tasmania:

• Owner-occupied homes: approximately 185,000 (67%)
• Rental properties: approximately 80,000 (29%)
• Other, vacant or unclassified dwellings: approximately 10,000 (4%)

This means that roughly one in every three residential properties in Tasmania is an investment property or rental home, highlighting the significant role that investors play in supplying housing across the state.

For property investors, these figures demonstrate the depth of Tasmania’s rental market and the ongoing need for quality property management and tenant services.

A Market of Opportunity

With around 80,000 rental properties statewide, Tasmania offers substantial opportunities for current and prospective investors.

The rental market spans everything from family homes and units in Hobart and Launceston through to regional investment properties and holiday accommodation along the East Coast.

Importantly, Tasmania’s housing needs continue to grow. National housing targets identify the need for approximately 26,000 additional homes in Tasmania by 2029, reinforcing the importance of continued investment and housing supply.

Taylese Butterworth of Roberts Glenorchy

Greater Hobart: Tasmania’s Largest Property Market

Greater Hobart remains the state’s largest residential and rental market.

Estimated dwelling stock:

• 115,000–120,000 residential dwellings
• 35,000–38,000 rental properties
• Approximately 40% of Tasmania’s total rental market

Strong employment, education, healthcare, and lifestyle factors continue to support demand for both owner-occupied and investment properties throughout Greater Hobart.

Greater Launceston: A Growing Northern Market

The Greater Launceston region is Tasmania’s second-largest residential market and continues to attract investors seeking affordability and long-term growth potential.

Estimated dwelling stock:

• 50,000–55,000 residential dwellings
• 14,000–16,000 rental properties

Within the City of Launceston municipality alone, there are estimated to be more than 10,000 rental properties, creating a diverse and active market for landlords and tenants alike.

The region’s combination of affordability, infrastructure investment, education facilities, and employment opportunities continues to underpin housing demand.

North West Coast: Strong Regional Demand

The North West Coast, including Devonport, Burnie, Ulverstone, and surrounding areas, remains a significant part of Tasmania’s property landscape.

Estimated dwelling stock:

• 55,000–60,000 residential dwellings
• 13,000–15,000 rental properties

The region offers a compelling mix of affordability, lifestyle, and economic activity, making it attractive for both owner-occupiers and investors.

Maddy Keep of Roberts Ulverstone

East Coast and North East Tasmania

Some of Tasmania’s most sought-after lifestyle destinations can be found along the East Coast and in the North East.

Estimated dwelling stock:

• 20,000–25,000 residential dwellings
• 4,000–5,000 rental properties

These areas have experienced increasing interest from interstate buyers, retirees, and lifestyle-focused investors. Holiday homes and short-stay accommodation also form an important part of the local housing market.

Southern Regional Tasmania

Beyond Greater Hobart, regions such as Sorell, Huon Valley, and the Central Highlands continue to experience steady housing demand.

Estimated dwelling stock:

• 25,000–30,000 residential dwellings
• 6,000–7,000 rental properties

Population growth, lifestyle appeal, and relative affordability continue to support long-term property market activity throughout these areas.

What This Means for Property Owners and Investors

The numbers tell a simple story: Tasmania’s property market is substantial, diverse, and continuing to grow.

With approximately:

• 275,000 residential dwellings statewide
• 80,000 rental properties
• Thousands of new homes expected in coming years
• Strong demand across metropolitan and regional markets

there are opportunities for homeowners, investors, and buyers across every corner of the state.

Whether you’re considering purchasing an investment property, reviewing your current portfolio, or exploring the value of your home, understanding local market dynamics is key to making informed decisions.

Alyshia Ruckert of Roberts Shearwater

Looking Ahead

Tasmania’s property market has shown remarkable resilience over recent years, supported by population growth, lifestyle migration, and ongoing housing demand. As new housing is delivered and regional communities continue to attract buyers and tenants, the state’s residential market remains well positioned for future growth.

For property owners and investors, the opportunities extend well beyond the major cities. From Hobart and Launceston to the North West Coast and East Coast communities, Tasmania continues to offer a range of options for those looking to live, invest, or build wealth through property.