Glenorchy Property Market Update 2nd Half 2025
Glenorchy is a vibrant suburb located just north of Hobart, between the River Derwent and Mt Wellington. Glenorchy offers a blend of natural beauty and urban conveniences, being very well connected to Hobart CBD. Combined with its rich history and amenities including schools and shopping centres, Glenorchy is an ideal location for families.
Property Trends
In Q2 2025, Glenorchy recorded a median house price of $585,000 and a median unit price of $449,500. This represents an annual (Q2 2024 – Q2 2025) increase of 4.5% for houses and a softening of -2.1% for units. Comparing Q2 2024 and Q2 2025, total sales increased by 28.1% (to 178 sales) for houses, but softened by -30.9% (to 38 sales) for units. The increase in house prices is reflective of high demand, which created a buffer against higher interest rates; as well as due to cash rate cuts. This is a unique opportunity for owners to capitalise on their investment. The unit market is now slightly more affordable, thus an ideal stock type for first home buyers.
Project Development
Glenorchy will see approx. $391.6M of new projects commencing from 2025. The Nyrstar Electrolysis Plant is a major commercial project commencing in 2025. This project will help secure the future of zinc refining in Tasmania, leading to the creation of more jobs in the Glenorchy region. With 58 dwellings coming onto the market, this will help with demand, however it is not enough. Thus, the undersupply experience in the Glenorchy market will continue, which will further push prices up.
Rental Market & Growth
House rental yields in Glenorchy (7010) were 4.7% as of June 2025, slightly lower than Glenorchy LGA (4.9%) and higher than Hobart Metro (3.5%). Further, median house rental price increased by 7.7% in the past 12 months to Q2 2025, at $560 per week. During this time, the number of houses rented decreased by -25.6% (to 212 houses). There is an undersupplied house rental market in Glenorchy, which benefits investors.
Vacancy Rates & Property Investment
Glenorchy (7010) recorded a vacancy rate of 0.4% in June 2025, above the Glenorchy LGA average (0.3%) but below Hobart Metro’s 0.6%. Vacancy rates have fallen in the past 12 months, indicating a tighter rental market. Further, a 0.4% vacancy rate is well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, indicating quicker occupancy of rental properties in the Glenorchy (7010) market. This creates a conducive environment for investors, especially with a more affordable units median sale price in the past 12 months to Q2 2025.
