Demand is rising across the state with homebuyers and investors targeting specific suburbs.

New PropTrack data shows skyrocketing interest in Tasmania’s northern suburbs, headlined by Burnie suburb Acton, alongside East Devonport and Ravenswood.

In these areas, the number of key inquiries per house listing has shot up throughout the past year.

Acton’s inquiries were up by an eye-popping 123 per cent, while East Devonport grew by 84 per cent and Launceston suburb Ravenswood climbed 81 per cent higher.

Buyers hunting for units are on the uptick in the south of the state, where North Hobart and Sorell’s markets experience a 68 per cent increase, followed by New Town (57 per cent), and Glenorchy (51 per cent).

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Key inquiries is a measure used to gauge the level of buyer demand in an area combining high-intent actions such as emailing an inquiry, calling the agent or downloading documents.

For houses, the suburbs with the highest total number of key inquiries per listing were historic Evandale with 37, just ahead of Battery Point, Glenorchy and Taroona – each with 36. A stitch behind again was Kingston Beach with 35.

Hobart city units created the most buzz with 28 inquiries, ahead of New Town, Bellerive, Battery Point, and Sandy Bay, ranging from 25 to 27 apiece.

REA Group senior economist Eleanor Creagh said a rise in inquiries was a sign buyer demand and competition was increasing, potentially leading to higher prices.

When more buyers are competing for each property, this heightened competition typically places upward pressure on prices, Ms Creagh said.

“While not a guarantee, sustained increases in inquiries per listing often foreshadow increased competition and potentially price growth in those markets,” she said.

South Property Group principal Nick Cowley said demand is increasing all over Hobart and Tasmania.

He said his agency saw “a huge uplift in August”.

“Demand has been unprecedented, with several open homes reminiscent of peak Covid trading periods,” he said.

“A lot of properties are not making it to a Saturday open home.

“We had a property in New Town sold in just three days with five offers and 17 groups attending a midweek lunchtime open house.

“Another property, in Claremont, attracted a dozen groups, five offers, and it was sold in four days.

“In Howrah, we had 37 groups come to a Saturday inspection, and that property was sold within a week and with six competing offers.

“Each of these homes was sold in excess of the listing price.”

The demand hasn’t only been limited to the $600,000 range, Mr Cowley said.

“It continues into the $1m-plus market with properties like No.64 Rosehill Crs in Lenah Valley selling in less than a week. It attracted 27 groups to inspect it and five written offers,” he said.

Mr Cowley said the shift in the market was clear.

“Consistent feedback from active buyers is that interest rates are heading in the right direction, and they are looking to purchase in the market now before potential sale prices increase over the next 12 months,” he said.

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Sellers pulled the trigger early and decided to deal with a local buyer to secure a top-of-the-range price for their renovated East Geelong home.

The three-bedroom Californian bungalow at 26 Grey St sold for $930,000 two days out from last Saturday’s scheduled auction.

Buxton East Geelong agent Tony Moorfoot said the sellers made the smart call when it emerged that several potential buyers were unlikely to reach the level as the eventual purchasers to produce a strong result under the hammer.

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“I had a couple of parties that were just probably not quite at the right level. We had one at the right level and the owners were happy to take an offer prior to auction.

“We could have gone to auction but you just don’t know the outcome,” he said.

“At the end of the day they’ve sold their property at a price they were happy with.”

The inner east location was a big driver behind the transaction, Mr Moorfoot said.

Grey St runs between Garden St and St Albans Rd, with equal distance to local parkland in either direction and potential walking or riding distance to Garden St shops and South Geelong train station.

The location is also less than five-minutes from the CBD, the waterfront, the hospital precinct or GMHBA Stadium.

“It’s such a good location. It was a super-neat and tidy home, so nothing to do but move in and be ready to rock and roll,” Mr Moorfoot said.

The three-bedroom house makes maximum use of its 337sq m block, packing a modern extension behind the original 1930s era timber cottage.

“They updated, put a new bathroom and extra bedroom on it when they extended,” Mr Moorfoot said.

“There was such a nice kitchen and living space, which was very modern and fresh.

“It was just one of those things, realising that a carport at the back and it was just ready to move in with a good location, and a good house.”

The house sold previously in 2014 for $525,000, with the owners adding the carport and extension, adding a living room and main bedroom suite, in 2017.

The extension meant the house offered two bathrooms and extensive decking in the backyard to suit the enjoyment of an inner city lifestyle.

The high-end kitchen has stone benchtops and splashback, dual Siemens 600mm pyrolytic and combi ovens, an induction cooktop, Asko dishwasher, and a walk-in pantry.

The property had been offered with $870,000 to $930,000 price expectations.

East Geelong’s median house price of $788,000 is just 2 per cent higher than the same time last year.

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Elon Musk could become the world’s first trillionaire under a new pay package proposed by electric car company Tesla but if it happens the tech genius’ frugal real estate dealings will be the key.

The tech mogul has an estimated net worth of $436.3 billion, according to Forbes.

The SpaceX founder’s fortune makes him the wealthiest person in the world — and one that is almost double that of the second-richest man, Oracle founder and Chief Technology Officer Larry Ellison.

Unlike his fellow “super billionaires,” however, Musk claims to live a very low-key lifestyle, eschewing the luxury trappings that many of the world’s richest people indulge in as a result of their extraordinary fortunes, Realtor reports.

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For years, he has claimed that he resides in a rented property worth around $US50,000 ($A76,000) that he leases from his space technology company SpaceX and which is located just a stone’s throw from its headquarters in Brownsville, Texas.

The businessman announced on X that he had moved into the rental property in 2021.

“My primary home is literally a ~$50K house in Boca Chica/Starbase that I rent from SpaceX. It’s kinda awesome though,” he said.

The only other property the Tesla founder owned was an “events house” in the San Francisco Bay area.

However, in the years since, it has been revealed that Musk does in fact own at least two other homes — one of which is in Austin, Texas, where Tesla is headquartered.

News of his ownership of that dwelling emerged after it was revealed that he had become embroiled in a bitter legal spat with his neighbours in the leafy community of West Lake Hills over an enormous 16-foot chain-link fence that he had erected around his $US6 million ($A9.1 million) dwelling.

Musk’s fellow residents also voiced complaints about the constant presence of security guards in and around the property, as well as the increase in traffic thanks to the many guests who appeared to be visiting the home at all hours of the day.

The billionaire businessman managed to claim victory on at least one of those points in July after the West Lake Hills City Council voted to allow him to keep the fencing and gates erected at the property, provided that he adjusts their design in order to meet local regulations, according to local news outlet KUT News.

It is currently unclear whether Musk is using the Austin abode as his primary residence.

However news of his neighbourly feud came not long after the New York Times claimed that the businessman had actually purchased three mansions in the Austin area — for a total of $US35 million ($A58 million) — that he planned to use to house all of his children, as well as several of the women he shares them with.

Musk is currently confirmed to have fathered at least 13 children since 2002.

However, conservative influencer Ashley St. Clair claimed in February that she had welcomed a baby boy with the Tesla founder, who has yet to acknowledge paternity.

He did, however, deny the Times’ report that he was building a compound for his kids.

In addition to his Austin residence, Musk also recently added another property back into his portfolio: a Los Angeles home that was once owned by Hollywood legend Gene Wilder.

The tech tycoon originally bought the property in 2013 for $US6.75 million ($A10.2 million).

However, he made a move to offload the property in 2020, when he announced plans to sell “almost all his physical possessions,” including Wilder’s former home.

Still, the Tesla founder made clear his enduring connection to the property.

He posted on X that, while he planned to “own no house,” any person or persons who took ownership of the Wilder property would be barred from demolishing it or making any major changes to its design.

“Gene Wilder’s old house … cannot be [torn] down or lose any [of] its soul,” he stipulated.

Months later, Musk had found the perfect person to take control of the dwelling — Wilder’s own nephew, Jordan Walker-Pearlman.

Walker-Pearlman and his wife, Elizabeth Hunter, purchased the home from the businessman for $US7 million ($A10.3 million) that same year.

At the time, Musk was hailed for his generosity after it was reported that he had not only sold the home to the couple for under its estimated market value, but had also loaned them a hefty $US6.7 million ($A9.9 million) to help them with its purchase.

However, the sweet scenario quickly turned sour four years later, when Walker-Pearlman and Hunter fell behind on their loan payments, leading to Musk filing a notice of default.

That original default notice, which was dated July 29, 2024, stated that the property “may be sold without court action” if the owners had fallen behind in their payments.

Though a public auction of the property was scheduled to be held on December 3 2024, records filed the following month revealed that the home had been bought back by the same LLC through which Musk originally purchased it.

It’s not currently known what Musk plans to do with the property — having seemingly purchased it the first time around more as a trophy home than an actual residence.

Parts of this story first appeared in Realtor and was republished with permission.

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The homeownership rate among Black Americans fell to 43.9% in the second quarter of 2024, the lowest level since late 2021, according to Redfin.

That was down from 45.3% a year earlier and marked the steepest annual decline since the third quarter of 2021.

By comparison, the Hispanic homeownership rate rose slightly to 48.8% from 48.5%. The rate for non-Hispanic white households dipped to 74% from 74.4%, and the Asian/Native Hawaiian/Pacific Islander rate slipped to 62.1% from 62.8%, the report said.

“Rising unemployment is one likely reason the homeownership rate for Black families has dropped recently,” said Redfin Chief Economist Daryl Fairweather. “The recent wave of federal layoffs hit Black households badly because government jobs have historically been an avenue of upward mobility for Black workers. DEI programs have also been dismantled in workplaces across the private and public sectors, which may have resulted in fewer Black employees being hired or promoted.”

The unemployment rate among Black Americans stood at 7.2% in July — up from 6.3% a year earlier and the highest since October 2021.

Rates for other groups remained relatively steady — with Hispanic/Latino unemployment falling to 5% from 5.3%, white unemployment inching down to 3.7% from 3.8%, and Asian unemployment rising to 3.9% from 3.7%.

Black women have faced some of the sharpest increases in joblessness. Their unemployment rate climbed to 6.3% in July from 5.5% a year earlier. For Black men, the rate was higher overall but rose less dramatically to 7% from 6.6%, Redfin said.

A 2024 analysis by the National Association of Realtors found that single women accounted for 33% of Black homebuyers — compared with 12% for single men.

High housing costs and elevated borrowing rates have posed barriers to homeownership in recent years.

The average 30-year fixed mortgage rate has recently fallen below 6.5%, down from a peak above 7% at the start of the year.

“Behind the decline in Black homeownership are families who aren’t building stability and wealth through housing,” Fairweather said. “For Black households who feel locked out of the American dream, the good news is that affordability is improving as mortgage rates come down, home prices are growing at less than half the pace they were a year ago, and buyers have been gaining negotiating power.”

Who needs bricks when you have bottles? Or concrete when you have hemp? In a world increasingly driven by sustainability, innovation, and sheer audacity, a revolution in residential architecture is taking shape. 

Forget your standard timber frames and concrete slabs — these new home designs go beyond the pale.

From discarded everyday items to ancient, earth-friendly methods, these astonishing dwellings challenge everything you thought you knew about shelter.

Get ready to explore some of the most surprising and repurposed material homes on the planet.

LEGO House, Surrey, UK

Though now demolished, James May’s life-sized LEGO house, constructed in 2009 for the BBC series “James May’s Toy Stories,” remains an iconic feat of imagination.

With the help of 3.2 million plastic bricks and 2,000 volunteers, the “Top Gear” presenter fulfilled a childhood dream by building a fully functioning home — complete with a LEGO bed and LEGO tables and chairs.

“From a design perspective, it’s not the most practical choice—LEGO blocks don’t offer much in the way of insulation or comfort,” commented director at Ace Property Agency, Rebecca Cardamone. 

“But while it may not be the most functional long-term living solution, it beautifully captures the playful spirit of design and reminds us that architecture can be both imaginative and inspiring. It also reminds us of the happiness colour can bring.”

Phoenix Earthship, New Mexico, USA

Originally championed by architect Michael Reynolds in the 1970s, Earthships are self-sufficient homes often constructed using old tires packed with earth. These “tire-bricks” provide incredible thermal mass, regulating indoor temperatures naturally.

Beyond tires, Earthships often incorporate other reclaimed materials like glass bottles and cans, coupled with sophisticated systems for rainwater harvesting, solar power, and even internal sewage treatment.

These homes aren’t just built from bizarre materials; they’re entire ecosystems designed for off-grid living.

“This amazing example of an Earthship shows how a house can supply its own power, water and food, while being built from what most people throw away,” said group director at finance and property advisory consultancy business, Highfield Private, Steven Tropoulos.

“Rammed-earth tyres form the thick thermal-mass walls, glass bottles and aluminium cans create patterned infills, and passive-solar glazing, rooftop photovoltaics and rain-catchment cisterns let the building run entirely off-grid.”

Tubohotel, Tepoztlan, Mexico

Ingeniously repurposing large concrete stormwater pipes into compact sleeping pods, the Tubohotel is as creative as it is functional. 

Arranged in a pyramid formation, inspired by local Aztec architecture, each individual pod includes a bed and minimal ventilation with shared bathrooms nearby. 

“Repurposing infrastructure materials into innovative hospitality spaces is a playful reuse project that allows for affordable accommodation,” said Dr Mardiasmo.

“While posing challenges for comfort and hygiene, it does showcase how unconventional materials can be transformed into a memorable and culturally resonant experience.”

Boeing 727 Forest Home – Hillsboro, Oregon, USA

Imagine stepping out of your shower, walking past first-class passenger seats, and grabbing a snack from a food cart — and all within the body of a retired jetliner. That’s the day-to-day life of Bruce Campbell, a former electrical engineer who turned a decommissioned Boeing 727-200 into his unconventional home.

Parked on his ten-acre woodland block, the retiree’s unusual pad doubles as an educational venue that invites visitors to rethink how we dispose of obsolete aircraft. 

“The owner spent about US$220,000 turning the fuselage into a fully-functional, partly solar-powered dwelling,” commented Mr Tropoulos. 

“Original passenger seats, lockers and food trolleys mingle with a shower in the old lavatory and the home’s running costs sit at roughly a mere US$370 per month.”

Hemp houses, Butterwick, NSW, Australia 

It wasn’t that long ago that if you mentioned your house was made of hemp, you’d get some strange looks. But today, hempcrete is quickly becoming a celebrated building material.

Made from renewable resources (hemp) and absorbing carbon dioxide during its curing process, each hemp wall takes on the triple role of the exterior wall, insulation and the interior Gyprock.

“The use of hemp masonry is such a smart move,”  said Ms Cardamone.

“It offers amazing thermal performance and breathability, and the fact that it’s compostable just adds to its appeal. It’s a material that’s both efficient and environmentally responsible.”

And this eco village in Butterwick, NSW, is the effect example.

“The first eco village of its kind in the area, the village features four hemp houses, which are part of a broader initiative to create a sustainable community with a focus on off-grid living and locally sourced materials,” said Ms Cardamone.

La Casa de las Botellas, Puerto Iguazu, Argentina

Known as the Bottle House, this family-built home in the subtropical province of Misiones, Argentina, is the result of waste being repurposed into architecture.

Its walls are made from roughly 1,200 plastic bottles, its roof is tiled with 1,300 recycled Tetra-Pak cartons, and even its doors and windows are framed with more than 140 discarded CD cases. 

“Inside bottle-stuffed armchairs and a bed made from 200 bottles continue the theme,” said Mr Tropoulos.

“The creator’s primary goal was to raise environmental awareness and demonstrate a creative use for materials that would otherwise contaminate our natural habitat and it proves that you can raise an entire house, and its furniture, out of the rubbish bin.” 

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