Greater Hobart house sales are showing no signs of slowing down, with the first stage of homes in a new residential community in Kingston selling out 12 months ahead of schedule.

Traders In Purple Development Director Jennifer Cooper said the demand for new houses from a diverse group of buyer profiles was a huge vote of confidence in the Greater Hobart property market and broader Tasmanian economy.

“Put simply we’ve been overwhelmed by the levels of interest and the rate of sales, but in a good way,” Ms Cooper said.

“Since we started construction earlier this year, the level of enquiry has been extremely strong. We have had to bring forward each subsequent stage to cater for the levels of demand.

“We’ve even had multiple buyers purchase two properties – one for themselves, and one for a loved one such as an older parent, or one to rent out.

“The properties have appealed to a very diverse buyer cross-section, ranging from local downsizers moving from Kingston and its surrounding suburbs who have been attracted by the ‘downsize, not downgrade’ value proposition we offer.

“We’ve also seen many first home buyers take the opportunity to enter the market with a premium new home close to town, which in the context of the broader Tasmanian market is now a viable option.

“Other major buyer groups for the first stage have included what we call ‘hybrid investors’ from interstate, or those who purchase the home to initially rent-out, with the plan to move to Tasmania and move in themselves later down the track.”

The $300 million Kings Quarter master planned precinct is a partnership between the Kingborough Council and developers Traders In Purple. Future stages to be released in the lifestyle destination include apartments, retail and commercial elements.

For more information on Kings Quarter and its future stages, visit www.kingsquarter.com.au

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