Hobart Market Report
Hobart is a bustling city with a vibrant arts and cultural scene. The short-term rental market in Hobart has grown in recent years, as the city has become a popular destination for both domestic and international travellers.
Hobart City Profile
Despite its small size, Hobart is a bustling city with a vibrant arts and cultural scene. The short-term rental market in Hobart has grown in recent years, as the city has become a popular destination for both domestic and international travellers.
Our Capital Markets reports aim to provide a transparent view of the short-term rental market in Hobart on a month-to-month basis. We take in large sets of data and translate it into actionable insights for hosts, free of charge.
This report offers insight into the market conditions for September 2024, based on how the local Hobart market performed in August 2024.
August 2024 Summary
Nightly Rates increased in August 2024 by 7.67% to $251.95, and hosts saw lower occupancy rates at 52.92% across 1,006 listings.
Hosts averaged $966.93 per week, yielding 1.77x the annualised average of $547.00 for long-term rentals in Hobart.
| Metric | August 2024 | July 2024 | Difference | Change |
|---|---|---|---|---|
Market Revenue | $4,167,595.05 | $4,715,164.67 | -$547,569.61 | -11.61% |
Monthly Revenue | $4,144.68 | $4,680.25 | -$535.57 | -11.44% |
Nightly Rate | $251.95 | $234.00 | $17.95 | +7.67% |
Occupancy Rate | 52.92% | 64.33% | -11.41% | -17.74% |
Weekly Revenue | $966.93 | $1,092.38 | -$125.45 | -11.48% |
Yearly Revenue | $50,430.90 | $56,940.79 | -$6,509.89 | -11.43% |
Listings & Hosts
| Metric | August 2024 | July 2024 | Difference | Change |
|---|---|---|---|---|
Entire Homes | 876 | 880 | -4 | -0.44% |
Hosts | 583 | 592 | -9 | -1.47% |
Hotel Rooms | 12 | 18 | -7 | -36.84% |
Listings | 1,006 | 1,007 | -2 | -0.19% |
Private Rooms | 113 | 103 | 10 | +9.35% |
Shared Rooms | 5 | 6 | -1 | -16.67% |