TAS State Final Demand slipped 0.2% to $52.0bn in the year to June 2026
Tasmania's State Final Demand reached $52.0bn in the year to June 2026, contracting 0.2% year-on-year. SFD per capita fell 0.8% to $89,476. Both measures recorded the second-slowest growth of the eight states and territories, trailing national growth by 3.3pp. Tasmania's unemployment rate reached 5.1% in July 2026, up 1.2pp over the year and the second-highest of the six reporting states. Total employment contracted 0.6% to 284k, the slowest among reporting states, as unemployed persons jumped 32.6%. Against the other states, TAS ranks state final demand growth 2nd lowest of 8 states (2026-Jun) and unemployment rate 2nd highest of 6 reporting (2026-Jul).
Cash rate and bond yields, exchange rates and commodities, and equities and superannuation are national series with no state breakdown — see the Australia page.
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The Tasmania economy this week
5 key pointsTAS posts highest inflation of 4.5% while state final demand slips 0.2%
Tasmania faces a diverging economic backdrop where demand has softened while living costs escalate. State Final Demand dipped 0.2% over the year to June 2026, the second-slowest of the eight states and territories, alongside a 0.6% contraction in employment. Yet headline inflation ran at 4.5% to July 2026, the fastest in the nation, driven by an 8.9% surge in housing costs. Housing finance commitments expanded 28.3%, leading all jurisdictions even as new-build lending share lagged at 14.9%.
1
State Final Demand contracted 0.2% over the year to June 2026, trailing Australia's 3.1% gain by 3.3pp as the second-slowest of the eight states and territories.
2
Consumer Price Index inflation reached 4.5% in July 2026, running 1.0pp faster than the national 3.5% rate as the fastest of the eight states and territories.
3
Housing finance commitments rose 28.3% over the year to June 2026, outpacing the national 6.6% growth by 21.7pp as the fastest of the eight states and territories.
4
Total employment contracted 0.6% over the year to July 2026, trailing national job growth of 1.3% by 1.9pp as the slowest of the six reporting states.
5
Tasmania's population expanded 0.6% over the year to March 2026, growing 0.8pp slower than Australia's 1.4% rate as the slowest of the eight states and territories.
What X is saying about the Tasmania economy
3 recent postsThe Tasmanian Government’s Expression of Interest (EOI) process will open this month to identify providers interested in developing and operating new aged care and assisted living facilities on government-owned greenfield sites in each region of the State.
Six new AI data centre projects for Tasmania, but who from is being kept secret
Preparations are being finalised for the launch of Spirit of Tasmania’s new vessels, with Tourism Tasmania working with industry to build demand ahead of the first sailing.
Posts about the Tasmania economy from the last 14 days, collected 19 Sep 2026. Each post was matched to its own X status ID before publication. Views are the authors' own.
Economy
GDP & Economic Output
State Final Demand
$52.0bn
-0.2%
Australia $2,753.8bn (+3.1%)
TAS as at 2026-Jun
State Final Demand per Capita
$89,476
-0.8%
Australia $98,629 (+1.6%)
TAS as at 2026-Jun
TAS State Final Demand slipped 0.2% to $52.0bn in the year to June 2026
Tasmania's State Final Demand reached $52.0bn in the year to June 2026, contracting 0.2% year-on-year. SFD per capita fell 0.8% to $89,476. Both measures recorded the second-slowest growth of the eight states and territories, trailing national growth by 3.3pp.
State Final Demand in Tasmania totalled $12.9bn in the June 2026 Quarter, reaching $52.0bn over the rolling year. Annual demand contracted 0.2%, trailing the 10-year average growth of 2.8% by 3.0pp. Quarterly demand fell 3.2% year-on-year, decelerating sharply from earlier expansion and dropping 6.0pp below its decade average.
State Final Demand per capita stood at $89,476 annually in June 2026. Per capita demand contracted 0.8% over the year, 2.4pp slower than Australia's 1.6% expansion and 9.3% below the national average of $98,629. Headline demand contracted 0.2% while per capita output fell 0.8%, demonstrating that modest population growth did not offset the underlying pullback in economic activity.
Tasmania's 0.2% contraction in State Final Demand was the second-slowest of the eight states and territories, ahead only of the Northern Territory's -1.9% and well behind South Australia's 3.7% gain. Nationally, Australia expanded 3.1%, leaving Tasmania growing 3.3pp slower than the national benchmark. State per capita demand growth also ranked as the second-slowest of the eight states and territories.
TAS against the other states
7
State Final Demand growth — 2nd lowest of 8 states
at -0.2% (2026-Jun)
small base
7
State Final Demand per Capita growth — 2nd lowest of 8 states
at -0.8% (2026-Jun)
small base
States are compared on State Final Demand. GDP by state is not published - national GDP is on the Australia page.
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Population & Migration
Population
580,691
+0.6%
Australia 27,921,150 (+1.4%)
TAS as at 2026-Mar
Net Overseas Migration
3,247
-2.9%
Australia 292,137 (-5.6%)
TAS as at 2026-Mar
Net Interstate Migration
-98
+1,148 people
TAS as at 2026-Mar
TAS population grew 0.6% to 580,691 in the year to March 2026
Tasmania's population reached 580,691 in March 2026, growing 0.6% over the year. This was the slowest of the eight states and territories, lagging Australia's 1.4% rate. Overseas migration added 3,247 people, while interstate migration recorded a net loss of 98.
Tasmania's population reached 580,691 persons as at March 2026, having expanded by 0.6% over the preceding twelve months. This annual growth rate represents a deceleration from earlier post-pandemic migration inflows and reflects the slowest pace of expansion in several years, tempering overall demand growth across local consumer sectors.
Population growth was underpinned primarily by overseas migration, which added 3,247 persons over the year to March 2026, though this inflow declined 2.9% annually and fell 10.3pp below its 10-year average growth of 7.4%. Natural increase contributed 217 persons, up 59.6% year-on-year. In contrast, net interstate migration remained negative, with a net loss of 98 residents to other states.
Tasmania's 0.6% population growth was the slowest of the eight states and territories, trailing Western Australia's 2.1% and South Australia's 1.0%, and running 0.8pp below Australia's 1.4% national rate. Net interstate outflows of 0.2 per 1,000 residents placed Tasmania mid-pack among the eight states and territories, well above the Northern Territory's loss of 5.9 per 1,000.
TAS against the other states
8
Population growth — Lowest of 8 states
at 0.6% (2026-Mar)
small base
4
Net Interstate Migration per 1,000 People — 4th of 8 states
at -0.2 per 1,000 (2026-Mar)
small base
Net interstate migration is ranked per 1,000 residents so it is not simply a ranking of state size. Australia-wide it nets to zero.
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Property
Development Activity
Dwelling Approvals (rolling year)
2,809
+21.4%
Australia 206,298 (+8.8%)
TAS as at 2026-Jul
Dwelling Approvals per 1,000 People
4.8 per 1,000
+20.0%
Australia 7.4 per 1,000 (+7.2%)
TAS as at 2026-Jul
TAS dwelling approvals rose 21.4% to 2,809 in the year to July 2026
Tasmania approved 2,809 dwellings in the year to July 2026, up 21.4% year-on-year. Per capita approvals reached 4.8 per 1,000 residents, the second-lowest of the eight states and territories. Completions fell 13.3% to 2.3k in March 2026.
A total of 2,809 dwellings were approved in Tasmania in the rolling year to July 2026, representing an increase of 21.4% over the prior year. Approvals generated 4.8 dwellings per 1,000 persons, up 20.0% annually. This trajectory reflects a sustained rebound in pipeline approvals from previous cyclical troughs, supported by planned government housing and aged-care development initiatives.
Pipeline conversion displays widening divergence across construction phases. While rolling-year dwelling approvals expanded 21.4% to 2.8k, commencements rose just 1.3% to 2.4k in the year to March 2026. Completions contracted 13.3% to 2.3k over the same period, 11.7pp below the 10-year average growth of -1.6%, highlighting supply bottlenecks in translating permits into finished stock.
Tasmania's 21.4% approval growth sat mid-pack among the eight states and territories, behind the ACT's 39.4% but outperforming Victoria's -0.6% decline. On a per capita basis, Tasmania's 4.8 approvals per 1,000 residents was the second-lowest of the eight states and territories, trailing the national 7.4 rate by 2.6pp. Total commercial approvals grew 39.5%, led by retail and offices.
TAS against the other states
4
Dwelling Approvals (rolling year) growth — 4th of 8 states
at 21.4% (2026-Jul)
small base
7
Dwelling Approvals per 1,000 People — 2nd lowest of 8 states
at 4.8 per 1,000 (2026-Jul)
small base
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Housing Market
Capital City House Price
$750k
+4.9%
Australia $1.09m (+5.5%)
TAS as at 2026-Jun
Regional House Price
$625k
+13.6%
Australia $745k (+8.9%)
TAS as at 2026-Jun
TAS regional house prices climbed 13.6% to $625,000 in June 2026
Hobart house prices reached $750,000 in June 2026, up 4.9% annually, while regional prices surged 13.6% to $625,000, the third-fastest of seven reporting states and territories. Capital affordability stood at 7.57x income versus 6.31x regionally.
The median house price in the Tasmanian capital city reached $750,000 in June 2026, up 4.9% over the year. This capital city appreciation sat below the 10-year average annual pace of 7.5%. Across regional Tasmania, house prices showed stronger momentum, climbing 13.6% over the year to reach $625,000, surpassing the regional decade average growth rate of 9.5% by 4.1pp. Attached dwellings in the capital reached $600,000, up 7.9%.
Capital city houses were priced at 7.57x annual household income in June 2026, below the 10-year average multiple of 8.22x and placing Hobart in the seriously unaffordable bracket. Regional housing stood at 6.31x income, remaining moderately unaffordable and sitting 8.6% above its decade average of 5.81x. Attached capital city dwellings offered greater accessibility at a 6.06x income multiple.
Annual capital house sales volumes fell 5.5% while regional sales dipped 2.9%. In price growth, Hobart's 4.9% increase sat mid-pack among the eight states and territories, trailing Australia's 5.5% pace by 0.6pp. Regional Tasmania's 13.6% gain was the third-fastest of the seven reporting states and territories, behind Western Australia's 20.9% and well ahead of the national 8.9% regional rate.
TAS against the other states
5
Capital City House Price growth — 5th of 8 states
at 4.9% (2026-Jun)
small base
3
Regional House Price growth — 3rd highest of 7 reporting
at 13.6% (2026-Jun)
small base
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Housing Finance
Housing Finance Commitments
$1.5bn
+28.3%
Australia $99.0bn (+6.6%)
TAS as at 2026-Jun
New-Build Share of Lending
14.9%
+4.9pp
Australia 18.2% (+2.1pp)
TAS as at 2026-Jun
TAS housing finance commitments surged 28.3% to $1.5bn in June 2026
Tasmanian housing finance commitments rose 28.3% to $1.5bn in June 2026, the fastest of the eight states and territories. Investor lending surged 87.1% to $599m. New-build lending captured a 14.9% share, the second-lowest among jurisdictions.
Housing finance commitments in Tasmania totalled $1.5bn in June 2026, expanding 28.3% compared to a year ago. Commitments stand 19.5pp above the 10-year average growth rate of 8.8%. Lending volumes have recovered sharply from previous troughs, with total quarterly commitments of $1,501.2m outpacing the broader national mortgage upturn.
The expansion was heavily led by investors. Investor lending surged 87.1% over the year to $599m, exceeding its 10-year average growth rate of 13.9% by 73.2pp. Owner-occupier commitments grew at a more measured 6.1% to $902m, taking the larger share of total lending. Investor participation in newly built dwellings saw commitments reach $93m, up 170.4% against its historical average.
Lending for existing dwellings reached $1.3bn, rising 47.4% above its long-term average. By contrast, new builds captured 14.9% of dwelling purchase lending, below the average since 2019 of 15.6%. This new-build share was the second-lowest of the eight states and territories, trailing South Australia's 24.8% and sitting 3.3pp below Australia's 18.2% share. Total Tasmanian lending growth was the fastest of the eight states and territories.
TAS against the other states
1
Housing Finance Commitments growth — Highest of 8 states
at 28.3% (2026-Jun)
small base
7
New-Build Share of Lending — 2nd lowest of 8 states
at 14.9% (2026-Jun)
small base
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Rental Market
Median Rent (rolling year)
$513/wk
+9.6%
Australia $625/wk (+5.6%) · 2026-Mar
TAS as at 2026-Jun
Median Rent Growth
9.5%
+5.0pp
Australia 5.6% (-1.8pp) · 2026-Mar
TAS as at 2026-Jun
Rent as a Share of Earnings
26.9%
+1.6pp
Australia 29.4% (+0.5pp) · 2026-Mar
TAS as at 2026-Jun
TAS rolling median rent rose 9.6% to $513 per week in June 2026
Tasmanian rolling median rents reached $513/wk in June 2026, up 9.6% year-on-year. In March 2026, annual rent growth of 7.7% was the highest of the five reporting states, while rent consumed 26.2% of earnings, the lowest among reporting jurisdictions.
The median rent in Tasmania reached $535 per week in the June 2026 Quarter, representing $513 per week on a rolling-year basis. Rolling-year median rents expanded 9.6% compared to the prior year, marking strong growth across the rental market. Rental increases have maintained steady momentum over recent quarters as low vacancy conditions persist statewide.
Hobart median rents reached $579 per week in June 2026, sitting 16.2% above the rest of the state at $490 per week. This capital premium was narrower than the historical average premium of 28.45%, as regional rents surged 10.5% over the year. On a rolling-year basis, regional rents reached $474 per week, up 39.1% above their long-term average level of $340.77.
At the common March 2026 quarter, Tasmanian rent growth of 7.7% was the highest of the five reporting states, exceeding Queensland's 7.0% and South Australia's 6.0%. Rents absorbed 26.2% of full-time earnings, the lowest of the five reporting states, compared to New South Wales at 33.0%. Victoria's latest data is from September 2025; the national series carries Victoria forward.
TAS against the other states
1
Median Rent Growth — Highest of 5 reporting
at 7.7% (2026-Mar)
small base
1
Rent as a Share of Earnings — Lowest of 5 reporting
at 26.2% (2026-Mar)
small base
Not in this comparison: VIC (latest 2025-Sep), NT (no data), ACT (no data). Rent series are published on different schedules by each state. Every rank here is taken at one common quarter; states without a value at that quarter are listed with their own latest period instead.
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Jobs & wages
Employment
Unemployment Rate
5.1%
+1.2pp
Australia 4.5% (+0.2pp)
TAS as at 2026-Jul
Total Employment
284k
-0.6%
Australia 14.81m (+1.3%)
TAS as at 2026-Jul
TAS unemployment rose to 5.1% in July 2026 as total employment fell 0.6%
Tasmania's unemployment rate reached 5.1% in July 2026, up 1.2pp over the year and the second-highest of the six reporting states. Total employment contracted 0.6% to 284k, the slowest among reporting states, as unemployed persons jumped 32.6%.
The unemployment rate in Tasmania stood at 5.1% as at July 2026. This represents an increase of 1.2pp over the year, indicating a softening labour market turning up from earlier lows. The Tasmanian jobless rate is 0.6pp above the Australian national average of 4.5%, with the state's 12-month increase running 1.0pp larger than the national rise of 0.2pp.
Total employment reached 284k persons in July 2026, contracting 0.6% over the year compared to a 10-year average growth rate of 1.9%. The composition reveals that full-time employment rose 0.8% to 181.22k, meaning headline job losses stemmed from a sharp reduction in part-time roles. Meanwhile, the number of unemployed persons surged 32.6%, 32.2pp above the decade average rate of 0.4%.
Across the states, Tasmania's 5.1% unemployment rate was the second-highest of the six reporting states, matching Victoria at 5.1% and trailing South Australia's 4.1%. In annual job creation, Tasmania's 0.6% contraction was the slowest of the six reporting states, lagging behind Queensland's 1.9% expansion and the national 1.3% growth mark by 1.9pp.
TAS against the other states
5
Unemployment Rate — 2nd highest of 6 reporting
at 5.1% (2026-Jul)
small base
6
Total Employment growth — Lowest of 6 reporting
at -0.6% (2026-Jul)
small base
Not in this comparison: NT (latest 2026-Mar), ACT (latest 2026-Mar).
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Job Advertisements
Job Advertisements
9,981
+0.8%
Australia 627,215 (-1.7%)
TAS as at 2026-Jul
TAS job ads rose 0.8% to 9,981 in July 2026, beating the national trend
Tasmanian job advertisements totalled 9,981 in July 2026, up 0.8% annually and the third-fastest of the eight states and territories, outpacing Australia's 1.7% contraction. Industrial ads expanded 13.8%, while professional ads grew 4.8%.
Job advertisements in Tasmania totalled 9,981 in July 2026, representing an annual increase of 0.8%. While total job ads grew modestly, this pace sits 7.2pp below the 10-year average growth rate of 8.0%. Advertising volumes have stabilised above historical averages, with hiring intent holding positive even as broader employment levels experienced a slight contraction.
Occupational categories highlight distinct shifts across industries. Industrial and trades advertising was the primary growth driver, rising 13.8% over the year to 1.9k ads, exceeding its 10-year average growth of 8.3% by 5.5pp. In contrast, professional job ads grew at a more moderate 4.8% to 3.2k ads, falling 7.0pp below its decade average rate of 11.8%, reflecting softer white-collar recruitment.
Across the country, Tasmania's 0.8% increase in job advertising was the third-fastest of the eight states and territories, outperforming the national contraction of 1.7% by 2.5pp. South Australia led the nation with 3.3% growth, while the Northern Territory recorded a 7.7% decline. Resilient industrial advertising indicates steady blue-collar demand linked to statewide construction activity.
TAS against the other states
3
Job Advertisements growth — 3rd highest of 8 states
at 0.8% (2026-Jul)
small base
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Wages & Earnings
Wage Price Index
165.0
+2.9%
Australia 161.2 (+3.2%)
TAS as at 2026-Jun
Full-Time Weekly Earnings
$1,904
+3.0%
Australia $2,157 (+3.5%)
TAS as at 2026-May
TAS wage growth slowed to 2.9% in the year to June 2026
Tasmanian wages grew 2.9% over the year to June 2026, the second-slowest of the eight states and territories and behind Australia's 3.2%. Full-time earnings averaged $1,904 weekly, 11.7% below the national average, resulting in real wage contractions.
Wages grew 2.9% over the year to the June 2026 Quarter, as measured by the Wage Price Index. This pace marks a moderation in wage momentum, slowing below recent quarters. The index reached 165.0, reflecting a 16.2% increase above its long-term average level of 142.0, though the rate of expansion trailed the broader national trajectory.
Average weekly full-time earnings in Tasmania reached $1,904 in May 2026, representing $98,641 per year for full-time workers. This reflected nominal earnings growth of 3.0% annually. However, with headline inflation running at 4.5% to July 2026, living costs outpaced nominal pay increases, resulting in negative real wage growth and declining household purchasing power over the year.
Tasmania's 2.9% WPI growth was the second-slowest of the eight states and territories, outpacing only the Northern Territory's 2.8% and trailing South Australia's 3.6%. The state's growth lagged the national rate of 3.2% by 0.3pp. Tasmanian full-time weekly earnings of $1,904 sat 11.7% below the Australian average of $2,156, growing 0.5pp slower than the national 3.5% earnings pace.
TAS against the other states
7
Wage Price Index growth — 2nd lowest of 8 states
at 2.9% (2026-Jun)
small base
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Households
Household Consumption
Household Consumption
$6.9bn
+2.1%
TAS as at 2026-Jun
Household Consumption per Capita
$11,846
+1.5%
TAS as at 2026-Jun
TAS per capita consumption rose 1.5% to $11,846 in June 2026
Tasmanian household consumption reached $6.9bn in June 2026, up 2.1% annually. Per capita consumption grew 1.5% to $11,846, the fastest of the eight states and territories. Essential utility spending jumped 37.7%, whereas transport fell 4.6%.
Household consumption expenditure in Tasmania totalled $6.9bn in the June 2026 Quarter, expanding 2.1% over the year. On a per person basis, consumption reached $11,846, up 1.5% from the prior year. This quarterly National Accounts measure captures comprehensive household spending across goods and services throughout the state economy.
Spending across core living requirements showed sharp divergences. Power expenditure surged 37.7% over the year, running 36.1pp above its 10-year average growth of 1.6%. Food consumption rose 3.0% to $749m. In contrast, discretionary and mobility categories softened: transport spending fell 4.6% against typical 2.8% growth, alcohol consumption declined 2.1%, and cafes and restaurants grew 1.6% against a 3.8% historical average.
On annual per capita consumption growth, Tasmania's 1.5% increase was the fastest of the eight states and territories, ahead of the Northern Territory's 1.1% and Victoria's 0.0%. While total household consumption grew 2.1%, high power costs accounted for an outsized portion of nominal gains, curbing real volume growth in discretionary leisure categories.
TAS against the other states
1
Household Consumption per Capita growth — Highest of 8 states
at 1.5% (2026-Jun)
small base
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Household Spending
Household Spending
$5.2bn
+8.0%
Australia $244.5bn (+6.2%)
TAS as at 2026-Jul
Household Spending per Capita
$8,909
+7.5%
Australia $8,757 (+4.9%)
TAS as at 2026-Jul
TAS household spending rose 8.0% to $5.2bn in July 2026
Tasmanian household spending reached $5.2bn in July 2026, up 8.0% year-on-year. Per capita spending grew 7.5% to $8,909, the second-fastest of the eight states and territories and 1.7% above national levels. Transport spending jumped 15.1%.
Household spending in Tasmania totalled $5.2bn in July 2026, rising 8.0% compared to a year ago and outpacing the national 6.2% increase by 1.8pp. On an annualised basis, spending reached $8,909 per person, expanding 7.5% over the year. This monthly indicator shows firm dollar spending across local businesses despite broader household income constraints.
Spending patterns show elevated outlays across unavoidable transport and essential categories. Transport spending grew 15.1% year-on-year, running 8.0pp above its 10-year average of 7.1%, while food spending rose 6.5% to $808m. Miscellaneous spending advanced 9.7% and recreation grew 7.9%. Conversely, alcohol and tobacco contracted 3.0% to $235m, 3.0pp below its decade average.
Tasmania's per capita spending growth of 7.5% was the second-fastest of the eight states and territories, trailing only the Northern Territory (+8.9%) and exceeding Australia's 4.9% rate. Per person expenditure of $8,909 sat 1.7% above the Australian average of $8,757. This nominal resilience occurred alongside 4.5% CPI inflation, with price rises heavily elevating cash outlays.
TAS against the other states
2
Household Spending per Capita growth — 2nd highest of 8 states
at 7.5% (2026-Jul)
small base
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Inflation & Cost of Living
Consumer Price Index
103.6
+4.5%
Australia 103.1 (+3.5%)
TAS as at 2026-Jul
Housing CPI
106.4
+8.9%
Australia 104.7 (+5.0%)
TAS as at 2026-Jul
TAS headline CPI reached 4.5% in July 2026, the fastest in Australia
Tasmanian headline inflation reached 4.5% in July 2026, running 1.0pp above Australia and ranking as the fastest of the eight states and territories. Housing CPI surged 8.9%, leading all jurisdictions and eroding real household purchasing power.
Inflation in Tasmania was 4.5% in the year to July 2026, based on the Consumer Price Index index level of 103.62. This rate remains well above the Reserve Bank of Australia's 2-3% target band and exceeds the national inflation pace of 3.5% by 1.0pp. Price growth has accelerated over recent months, establishing Tasmania with the fastest inflation rate in the nation.
Shelter costs represent the dominant driver of price pressures across the state. Housing CPI surged 8.9% over the year to July 2026, with the index standing at 106.43, running 25.1% above its long-term average. Food and essential transport costs also experienced persistent upward pressure, while non-essential categories recorded slower gains, though all major expenditure groups contributed to the statewide price level.
Tasmania's 4.5% headline CPI was the fastest of the eight states and territories, outstripping South Australia's 4.4% and the ACT's 3.2%. Housing inflation of 8.9% was also the fastest of the eight states and territories, exceeding Australia's 5.0% rate by 3.9pp. With wage growth at 2.9%, Tasmanian workers experienced declining real purchasing power as consumer inflation outpaced nominal pay.
TAS against the other states
8
Consumer Price Index growth — Highest of 8 states
at 4.5% (2026-Jul)
small base
8
Housing CPI growth — Highest of 8 states
at 8.9% (2026-Jul)
small base
CPI is ranked lowest to highest. A low reading is not automatically a good outcome - it is stated as a position, not a verdict.
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