John McGrath: Tas best property buys for 2026

Battery Point is one of McGrath’s top picks for 2026. Picture: Supplied

A surprising D-word has landed one of Tasmania’s most prestigious neighbourhood on a Top Suburb of 2026 list.

Delightful, distinguished, divine, dazzling … Not this time, instead try “discount”.

In his annual McGrath Report, real estate guru John McGrath had Battery Point at the top of his suburbs to watch list.

The fact that this enviable, aspirational area is “now trading at a discount” was his No.1 reason.

“Despite its heritage charm and waterfront lifestyle, this prestigious suburb is now trading at a discount, with the median house price falling to $1.38m amid a rising number of homes coming onto the market,” Mr McGrath said.

“Opportunity abounds in this iconic locality.”

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Battery Point.

In August 2023, Battery Point was the only Tasmanian suburb with a $2m median house price.

And earlier this year, the suburb was relatively awash with listings, with an unusually high two-dozen homes to choose between.

Currently, there are just seven Battery Point houses for sale.

They range in price from a single-bedroom 1840s whaler’s cottage in South St for $795,000-plus up to Mona St’s Victorian Gothic masterpiece, Vernon, which has launched at $5.5m-plus.

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John McGrath.

Mr McGrath’s report also put the spotlight on more affordable areas, such as Midway Point.

He cited the $47m Hobart Airport Interchange and the $187m causeway duplication as reasons for optimism in this suburb’s neighbourhood.

“Midway Point is becoming one of Hobart’s most connected suburbs,” he said.

“What’s more, a relatively affordable $615,000 median dwelling price means Midway Point offers strong growth prospects as infrastructure catches up with demand.”

Concept design of the Sorell and Midway Point causeways. Picture: Department of State Growth

Up north, it was West Launceston that caught his eye.

He said it was a suburb where people would find exceptional value for those seeking period homes, hillside views and direct access to Cataract Gorge.

“The suburb has a similar character to East Launceston, yet its $630,000 median home price is $270,000 cheaper than its more high-profile neighbour,” he said.

“Only 2km from the CBD, West Launceston is becoming increasingly popular among buyers wanting a premium lifestyle without the premium price tag.”

No.31 Quarry Rd, West Launceston set the suburb’s benchmark when Bushby Creese sold it for $1.99m.

No.31 Quarry Rd, West Launceston.

In Devonport’s Miandetta, Mr McGrath said it was the suburb’s proximity to the $50m Stony Rise Village that stands out, plus it is just 3km from the CBD and waterfront.

Regional area, Acton, is emerging as one to watch with home prices up by 94 per cent in five years and rental yields of 5.4 per cent, Mr McGrath said.

“The clincher? A median house price of just $385,000,” he said.

The full report is available at mcgrath.com.au/mcgrath-report

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