Tasmania has a population of approximately half a million people, with the majority living in Hobart, Launceston, Devonport, Burnie and Ulverstone.
Historically, there has been very little immigration to the state. The older population demographic has had an impact on the property market. Unlike some mainland states where the market is either flat or slowly cooling, median prices for houses and units in Tasmania are moving upwards at a gradual and steady pace.
Tasmania has some of the highest agent commission rates in the country. There are more than 500 real estate agents across Tasmania where the average commission charged is 2.78%. Although price is important, markets differ greatly depending on where you are in Tasmania, so it's as important to find an agent with a good knowledge of local conditions as it is to find one with low commission rates.