Brighton Property Market Update 1st Half 2025
Brighton is a beautiful suburb located just north of Hobart and offers a unique blend of rural tranquillity and modern convenience. Known for its picturesque landscape and friendly community atmosphere, Brighton is an ideal family location.
Property Trends
In Q4 2024, Brighton recorded a median house price of $660,500, and a median unit price of $482,500. This is an annual (Q4 2023 – Q4 2024) price growth of 5.7% for houses and 0.5% for units. Comparing Q4 2023 – Q4 2024, sales increased by 37.8% for houses (to 51 sales in Q4 2024) and decreased by -36.4% for units (to 7 sales in Q4 2024). This suggests an undersupplied unit market and a highly demanded house market, which created a buffer against higher interest rates – hence price growth for both property types. This indicates an ideal time for owners to capitalise on their investments. For houses there is limited new stock planned, thus now is an ideal time for buyers to act.
Project Development
Brighton will see approx. $149.0M of new projects commencing in 2025. This will include 101 units/apartments, 26 dwellings and 8 lots. Whilst this will help with answering some of the current demand, there is still an undersupply of ready-to-sell houses in Brighton. This will stimulate further price increases, for all property types.
Rental Market & Growth
House rental yields in the postcode 7030 was 4.4% in December, above Hobart Metro (3.6%). This was paired with a 4.5% increase in median house rental price in the past 12 months to Q4 2024, at $460 per week. The number of houses rented increased by 1.2% in the past 12 months, to 83 rentals in Q4 2024, which suggests a highly demanded market. Similarly, median unit rent price rose by 5.1% to $450, with a stable number of units rented (24 units in Q4 2024). Overall, there is an attractive investment market in the Brighton area, even with a higher entry/sale price in the past 12 months to Q4 2024.
Vacancy Rates & Property Investment
The postcode 7030 recorded a vacancy rate of 0.7% in December 2024, slightly above Brighton LGA’s 0.4% and Hobart Metro’s 0.6% average. Vacancy rates in the postcode 7030 have fluctuated in the past 12 months, however, have seen an uptick in the past 3 months due to investors returning to market as cash rates stabilised. This is good news for renters, in what is normally an incredibly tight rental market. For investors, a 0.7% vacancy rate is still significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, suggesting quicker occupancy of rental homes in the area.
