It is believed that as travellers rode up and descended the tumultuous terrain of what is now the Heritage Highway, this particular house would seem to sink into the ground until it was completely out of sight, before suddenly reappearing shortly afterwards.


                Built from 1839 to 1840, the home was originally constructed to provide an overnight stop on the coach route between Hobart and Launceston.
            

                It continued to serve this purpose until the Tasmanian Main Line Railway Company introduced a track between the same two locations in 1876. Since then, the building has housed various occupants, and in August last year, a Victorian couple with a passion for restoration that had spanned decades purchased the property sight unseen.
            

                Dominic and Marie Romeo have been dedicated to restoring Australian heritage homes for more than 30 years and have breathed new life into 14 properties ranging from modest cottages to some of the country's grandest manors.
            

                Ms Romeo said that she and her husband were driven by a strong sense of empathy and believed that it wasn't just the beauty of these homes that was worthy of recognition, but the stories hidden within them.
            

                "We're not on earth for a very long time, we're just passing through, and the house you're living in now could have been someone's beloved home a century ago, so if these buildings cease to exist one day, so will a large chunk of Australia's history," she said.
            

                "It is hard work, and sometimes I get about halfway through and start to wonder why I'm putting myself through an experience like this again, but it's more than worth it in the end, in fact, the process actually becomes quite addictive."
            

                That same procedure and objective inspired the duo, who have branded themselves as The Constant Renovators, to bring their wealth of knowledge and experience to Tasmania.
            

                After having crossed the Bass Strait many times, the couple had always dreamed of restoring one of the Apple Isle's many historic establishments, and when the perfect opportunity finally presented itself, they snapped it up.
            

                Heritage home restoration can be a tedious and tiresome experience. Depending on the size of the house and the number of people involved in the works, the process can span months or years.
            

                Mr Romeo said that the average amount of time it takes him and his wife, along with the team of tradesmen, to complete a full restoration is about four years.
            

                However, he expected the restoration of the Disappearing House would only take another six months to complete.
            

                The reputation that the property had for being haunted didn't deter the couple, nor did it give off any form of negative vibe, in fact, Mr Romeo said it had done the exact opposite.
            

                "Most of the houses we go into are quite rundown and feel a bit sad, so a lot of the time we kind of sense that the house is happy we've arrived," he said.
            

                "Maybe they know we're there to save them because in the end, that's the reason we jump from house to house."
            

                With their expertise having been forged through years of trial and error, there wouldn't be too many Australian's with better restoration advice than the Romeo's.
            

                Their advice was to be patient and absorb the atmosphere of the property.
            

                The couple were coordinating the work on the home from Victoria, due to COVID-19 restrictions, but were eager to finally get back to Tasmania. Mr Romeo hoped that this wouldn't be the last restoration the couple undertook in the state.
            

                "There's more out there," he said.
            
By Luke Miller

Serial renovators turn sights to Tassie's iconic Disappearing House

In its quarterly report, the institute noted there was a record $4.46 billion in real estate sales in Tasmania over 12 months until September.
            

                Sales in 2021 were up by 15.8 per cent on the previous year and values were up by 18.7 per cent.
            

                The median price for a Tasmanian home in September was $520,000 at an increase of 7.4 per cent over 12 months. According to the institute, increasing property prices have resulted in reduced investment levels.
            

                Mainland buyer numbers increased to 1653 from 1051 last year, but only represented 18.1 per cent of sales.
            

                Sales to investors were up by 36.5 per cent compared to last year, but represented 19 per cent of all sales.


                In Launceston, a three-bedroom home cost on average $420 a week to rent and a two-bedroom home cost $335.
            

                Real Estate Institute of Tasmania president Michael Walsh said strong buyer demand and a severe lack of supply was being experienced by each Australian capital city.
            

                "Low interest rates, improving economic conditions and an opening up of the borders will continue to see demand for property in this state grow," he said.
            

                "We clearly need to find avenues to release the pressure that has been placed on the rental and sales markets by seeking the government's help to look for ways to expediently create more rental properties and building more established homes for sale."
            
By Matt Maloney

Real estate sales record for Tasmania in 2021

The bank has released a list of regional areas where it's still cheaper to buy, including Orange and Dubbo in NSW, Warrnambool in Victoria and Launceston in Tasmania.


                In Orange, you can save $294 a month by buying. The median rent there clocks in at $2,044 but mortgage payments are $1,750.
            

                In Victoria's Warrnambool it is $194 cheaper to buy than rent, with a monthly median rental of $1,881 and monthly median mortgage repayment of $1,687.
            

                In Launceston, high rents of $2,157 meant that it was cheaper to service a mortgage, calculated at $2105, but only just, with $52 separating the two.
            

                In calculating where a mortgage beats out renting, the bank assumed a homebuyer would borrow 80 per cent of the property's price at a rate of 2.69 per cent per annum - meaning homebuyers would need to stump up 20 per cent of the property's cost upfront.
            

                They used median rental and house price data sourced from CoreLogic to then calculate the difference between the two payments, focusing on major population centres outside of capital cities.
            

                Where NAB says it makes more sense to buy than rent
            


                "House prices are rising but there's still plenty of opportunities for Australians to buy their dream home rather than rent it. The simple reason for this is the record low rates on offer, with many mortgage rates still coming with a 2 in front of them," Mr Kerr said.
            

                A similar study was recently conducted by CoreLogic in July, although that survey assumed a lower 2.4 per cent mortgage rate.


                Housing sentiment
            

                The number of Australians who believe that it is a good time to buy a home has fallen in the second quarter of 2021, according to NAB.
            

                Just 29 per cent agreed that now is a good time to buy, down from 40 per cent in Q1.
            

                Sentiment took the biggest dive in Queensland (down 21 points to 23 per cent) and the ACT (down 20 points to 24 per cent).
            

                Those surveyed who said they intend to buy a home in the next 12 months fell to 13 per cent, down from 15 per cent in Q1.
            
By Jack Needham - This article first appeared on ACM

Major bank reveals where it's cheaper to buy than rent

Spreyton, Upper Burnie, Trevallyn and East Launceston (houses) and Legana and Invermay (units) all figured in the top 10 suburbs forecast for imminent strong growth in property prices.
            

                The latest quarterly Well Home Loans Green Shoots Report also listed Southern areas Carlton, Montrose, Geilston Bay and Acton Park (all for houses) among the top 10 suburbs "showing telltale signs that strong price growth is just around the corner".
            

                The ratings were based on the number of properties on the market decreasing, days on market decreasing and asking prices increasing, all over the past three months.
            

                The value of Australia's residential property market stood at $8 trillion at the start of 2021. The way things are going, CoreLogic's Asia Pacific Head of Research Tim Lawless says we could see that value swell to $9 trillion before the year is ou...
            

                Well Home Loans chief executive Scott Spencer said the report, based on data from property research consultancy Suburbtrends, showed "a nice diversity of promising housing markets around Tasmania".
            

                "So, for many Tasmanians, there might be a nearby housing market where prices look set to accelerate in the not-too-distant future.


                He said the report contained valuable data for anyone thinking about buying a property, from investors to first home buyers.
            

                "The Well Home Loans Green Shoots Report doesn't just look in the rear view mirror, like a lot of reports," Mr Spencer said.
            

                "This one analyses key leading indicators, so buyers can understand which markets are likely to show strong price growth in the medium term.
            

                "Inventory levels is a really important leading indicator because it tells you whether the balance between supply and demand is trending in favour of vendors or buyers."
            

                "When days on market are trending down, it tells you buyers are being forced to fight harder for properties, which puts upwards pressure on prices.
            

                "All of this translates into asking prices.
            

                "When vendors feel the market turning in their favour, they start increasing their asking prices."
            

                In order, the report's top 10 were:
            

Carlton

Spreyton

Montrose

Legana

Upper Burnie

Geilston Bay

Trevallyn

East Launceston

Invermay

Acton Park



                Devonport-based Halliwell Property Agents principal Alan Halliwell said he was not surprised Spreyton was rated so highly.
            

                "We've got a fair bit happening out here and the land is flat, so it's easy to build on, and there's a bit available," Mr Halliwell said.
            

                "It doesn't surprise me Spreyton is earmarked for that sort of growth."
            

                He said Spreyton had historically been a semi-industrial area.
            

                "It's quite an interesting area," Mr Halliwell said.
            

                "It's got orchards and farming stuff, the racecourse obviously, a golf course and a school, a supermarket and a bottle shop and it's also got light industrial complexes and housing.
            

                " ... it's much more well serviced than it used to be.
            

                "A lot of unlocking of land has gone on and there's more to come.
            

                "The Devonport Country Club's been built; that's not just for golf and bowling members, it's for anybody ...
            

                "That's coming along very well."
            

                 The Devonport Country Club. Picture: Simon Sturzaker.
            

                Mr Halliwell said the North-West generally was having an "injection of positivity" in the real estate market.
            

                "The only issue we have is there are not a lot of properties on the market, but a glut of buyers," he said.

                He said prices had been driven up by 20-30 per cent and he did not expect them to ever fall back to the levels of several years ago.
            

                However, he was not expecting further enormous price growth, saying prices were probably close to peaking and there was "only a certain amount of earning capacity in the area".
            
By Sean Ford - this article first appeared in The Advocate

North-West, Launceston, Hobart's top house price growth tips

Latrobe, Launceston and Clarence are leading the home building frenzy in their regions with $1 billion of new housing approved statewide in 11 months.

Tasmania's home building frenzy, with no end in sight

Located within walking distance of cosmopolitan Beaumont Street and the Newcastle Interchange, this spacious Torrens Title home offers a lifestyle of convenience.

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 Property prices have fallen across Australia with houses declining 2.3 per cent and other dwellings 2.4 per cent, according to the latest research from the Real Estate Institute of Australia. REIA Real Estate Market Facts for the December quarter 2018 saw the weighted average median prices fall the most since December 2011 for houses. REIA President Adrian Kelly said the […]

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