Real Estate Valuation Services Hobart

House Prices Hobart - How to Value My Property

Engaging a licensed property valuation service will greatly assist in setting your property or house price in Hobart or regional Tasmania. Property valuations will fluctuate both across Hobart and throughout Tasmania so a property valuation service provider will be best placed to set your house price to that of the market, in turn providing a competitive price range to sell your property quickly.   

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What my determine property and house prices in Hobart or Tasmania.   

External Factors

  • Bank Lending Rates – Normally higher interest rates mean money is more expensive to borrow, which in turn takes a lot of house buyers out of the market. This in turn can put downward pressure on property valuations.  The opposite are low interest rates. In this scenario more people are able to afford to borrow which in turn can drive property and house prices up in Hobart and Tasmania.
  • Housing Development  –  Over development of property without the equal number of buyers in the market can cause a downward effect on property values. This can tend to be more in geographical target locations than statewide.
  • Interstate Migration – Negative or low population growth due to people moving interstate will cause property valuations to drop due to less demand of buyers looking to purchase real estate. An influx of people, due to economic trends or lifestyle changes can increase the demand for property which in turn can see property and house prices in Hobart and throughout Tasmania rise.   

Property Factors

  • House, Unit, Townhouse – A property valuation will take into account the land size plus the number of bathrooms and bedrooms a house or unit will have. Other factors to determine your house value can be the age and style of your home. 
  • Property Location– The location of your property in Hobart or Tasmania will determine your house price. Your location to public transport and services like schools and hospitals may also have a bearing on your property value. 
  • Position – Having real estate in a sought after location with city or water views can increase the value of your house or piece of real estate. Consult your property valuer for more with regards to this   

The above points are for consideration when setting your property valuation for Hobart or Tasmania. For additional tips go to our property valuation page or try our complimentary valuation tool

 

 

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