TAS State Final Demand fell 0.2% over the year to June 2026
State Final Demand slipped in the June quarter and fell over the year, with per-capita demand also down. Both annual growth rates ranked second-slowest among the eight states and territories, while the per-capita level remained above its 10-year average. The unemployment rate edged down in September but remained above the national rate. Employment and labour force levels fell over the year, with full-time employment at a five-year low. Employment growth was the slowest among six reporting states and contrasted with national growth. 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-Sep).
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 pointsTasmania’s regional house prices rose 13.6%, third-fastest among reporters
Tasmania’s economy presents a mixed picture: State Final Demand fell 0.2% over the year to June 2026, against Australia’s 3.1% growth, while population growth was the slowest of the eight states and territories at 0.6%. Housing finance commitments grew 28.3%, the fastest of the eight, and regional house prices rose 13.6%, third-fastest among seven reporting states and territories. Yet employment fell 3.0% as Australia grew 1.2%, and September inflation reached 5.3%, the fastest of the eight states and territories.
1
State Final Demand fell 0.2% over the year to June 2026, growing 3.3pp slower than Australia’s 3.1%.
2
Population grew 0.6% over the year to March 2026, the slowest of the eight states and territories.
3
Housing finance commitments grew 28.3% over the year to June 2026, the fastest of the eight states and territories.
4
Employment fell 3.0% over the year to September 2026, the slowest of the six reporting states; Australia grew 1.2%.
5
Inflation was 5.3% over the year to September 2026, the fastest of the eight states and territories, against Australia’s 4.3%.
What X is saying about the Tasmania economy
6 recent postsASIC turns its gaze on the bankers behind Firmus' failed float
Australia's corporate watchdog is now asking questions of the Wall Street banks that tried to sell the Firmus IPO. ASIC chair Sarah Court confirmed on Thursday that the regulator is making "targeted inquiries" of the
Hobart rents are up 9.8% in a year, with houses at $637 a week (SQM Research, week to 20 Oct). 🏠
Buyers are pickier now, so do the right things to get the best price. My new book, 100 Ways to Get the Best Price for Your Home: https://t.co/wKen6GD22K
https://t.co/R59P0AMWYH
The Tasmanian Government is taking action to remove one of the biggest barriers to faster, more affordable housing, with a Bill to deliver a nation-leading Modular Housing Finance Guarantee tabled in the House of Assembly.
https://t.co/LvHCLGtdOk
Housing minister Kerry Vincent says there are 284 dwellings currently under construction under Homes Tasmania and 965 dwellings in pre approval construction stage. He says payment on debt is a long term situation for Homes Tas @7tasnews #politas
The Tasmanian Government is getting on with the job of delivering on our plan to increase housing and homelessness services across the State, with the introduction of the Tasmanian Homes and Housing Bill 2026 to Parliament.
https://t.co/mb3gNxpveK
"Failed Hobart stadium bidder WeBuild set to be reimbursed millions,"
•That is despite tender documents stating unsuccessful bidders could be reimbursed up to A$250,000.
https://t.co/4PoUDJdUIi
Posts about the Tasmania economy from the last 14 days, collected 29 Oct 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 fell 0.2% over the year to June 2026
State Final Demand slipped in the June quarter and fell over the year, with per-capita demand also down. Both annual growth rates ranked second-slowest among the eight states and territories, while the per-capita level remained above its 10-year average.
State Final Demand totalled $52.0bn in the June quarter, with $52.0bn over the rolling year. Annual growth fell 0.2%, below the 10-year average growth of 2.8%; it was 3.8% a year earlier and 2.1% a quarter earlier. The rolling-year figure fell 0.8% in the June quarter, following two quarterly rises.
Annual State Final Demand per capita was $89,476, down 0.8% over the year, compared with a 0.6% increase in population. The per-capita level was 7.9% above its 10-year average of $82,944, but annual per-capita growth was 2.4pp slower than Australia’s 1.6%. Quarterly per-capita demand fell 1.1% in the June quarter.
TAS recorded the second-slowest State Final Demand growth among the eight states and territories: -0.2%, against Australia’s 3.1%, a 3.3pp gap. South Australia grew 3.7%, while the Northern Territory fell 1.9%. Per-capita growth also ranked second-slowest, at -0.8% versus Australia’s 1.6%. State comparisons use State Final Demand; state GDP is not published.
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%, slowest among the eight states and territories
Population reached 580.7k in March 2026, growing more slowly than its decade average and the national rate. Overseas migration’s annual total fell, though it rose in the latest quarter. Natural increase was far below its decade-average level despite a sharp annual growth rate.
Tasmania’s population reached 580.7k in March 2026, increasing 0.6% over the year. Growth was below the 10-year average of 1.2%, although the annual rate edged up from 0.4% a year earlier and 0.5% a quarter earlier. The latest quarter added 0.3% to the population.
Overseas migration was 3.2k in March 2026, 9.3% above its 10-year average of 3.0k; its rolling-year total rose 6.5% in the quarter but fell 2.9% over the year. Natural increase was 217, below its 10-year average of 818, though annual growth was 59.6%. Interstate migration recorded a net loss of 98, below its average of 601.
Population growth was 0.6%, 0.8pp below Australia’s 1.4%, and the slowest of the eight states and territories. Western Australia led at 2.1%, with South Australia next slowest at 1.0%. Tasmania’s interstate migration rate was mid-pack among the eight states and territories, at -0.17 per 1,000 people; Australia-wide, interstate migration nets to zero.
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)
2,823
+16.6%
Australia 208,219 (+7.5%)
TAS as at 2026-Sep
Dwelling Approvals per 1,000 People
4.9 per 1,000
+16.7%
Australia 7.5 per 1,000 (+7.1%)
TAS as at 2026-Sep
TAS dwelling approvals grew 21.8%, second-fastest among eight
Dwelling approvals rose strongly over the year to August 2026, but approvals per person remained second-lowest among the eight states and territories and below their decade average. Commencements were also below their decade-average level, while completions remained lower year-on-year despite a latest-quarter rise.
There were 2.9k dwelling approvals in Tasmania in the year to August 2026, 4.4% below the 10-year average of 3.0k. Approvals per 1,000 people stood at 4.9, below the average of 5.3. Annual approvals growth rose to 21.8%, and the rolling-year total increased 6.3% in the latest quarter.
The pipeline shows different directions: commencements totalled 2.5k in the year to June 2026, 12.8% below their 10-year average of 2.9k; completions were 2.3k, 15.7% below the average of 2.8k. Completions rose 2.5% in the June quarter after eight quarterly falls, but remained down 5.9% over the year. House approvals were 2.4k and attached approvals 423.
Approvals grew 21.8%, the second-fastest of the eight states and territories, against Australia’s 9.5%. Yet approvals per 1,000 people were 4.9, 2.6 below Australia’s 7.5 and the second-lowest among the eight. Commercial approvals value was 450.43 in August: office grew 42.5% over the year, retail 33.1%, and industrial value fell 26.7%.
TAS against the other states
5
Dwelling Approvals (rolling year) growth — 5th of 8 states
at 16.6% (2026-Sep)
small base
7
Dwelling Approvals per 1,000 People — 2nd lowest of 8 states
at 4.9 per 1,000 (2026-Sep)
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 rose 13.6%, third-fastest among reporters
Capital house prices were nearly unchanged in the June quarter, while regional house prices rose. Regional annual price growth was 13.6%, faster than Australia’s 8.9%. Sales volumes declined over the year across both house markets, with a sharp latest-quarter fall in rolling-year totals.
The median house price in Tasmania’s capital city was $750,000 in the June quarter of 2026, up 4.9% over the year versus average annual growth of 7.5% over the past decade. It was unchanged in the quarter. Regional houses reached $625,000, up 13.6% over the year and 0.8% in the quarter; regional growth accelerated from 12.7% a quarter earlier.
Capital city houses were priced at 7.57 times annual income, 7.9% below the 10-year average of 8.22 times; this sits in the seriously unaffordable range. Attached dwellings were at 6.06 times income, 5.8% below their 6.43 average, indicating improved affordability relative to houses. Regional houses were at 6.31 times income, above their 5.81 average, and more affordable than capital houses.
Capital house prices grew 4.9%, 0.6pp slower than Australia’s 5.5%, placing Tasmania mid-pack among the eight states and territories. Regional prices grew 13.6%, 4.7pp faster than Australia’s 8.9%, the third-fastest among seven reporting states and territories. Capital house sales were 3.2k over the year, down 5.5% and below the 10-year average of 3.4k; the rolling-year total fell 11.8% in the June quarter.
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 grew 28.3%, fastest among eight states and territories
Housing finance commitments reached $1.5bn in June 2026 and grew faster than the national rate. Investor lending and new-build commitments expanded sharply. New builds’ share of purchase lending rose over the year but remained below its since-2019 average and the national share.
Housing finance commitments totalled $1.5bn in June 2026, up 28.3% over the year and 59.0% above the 10-year average of $944m. The quarterly total rose 17.3%, above the usual June-quarter increase of 12.2%. This was the highest level in five years; the annual growth rate was 28.3%, against 18.8% a year earlier.
Owner-occupier lending was $902m, 60.1% of total lending, versus 72.6% a year earlier. Investor lending was $599m, or 39.9%, versus 27.4% a year earlier; its share was 12.9pp above its 10-year average of 27.0%. Owner-occupier lending grew 6.1%, below its 6.5% average growth, while investor lending grew 87.1%, above its 13.9% average.
New-build lending totalled $224m, while lending for existing dwellings was $1.3bn. New builds captured 14.9% of purchase lending, below the since-2019 average of 15.6% and Australia’s 18.2%. New-build lending grew 91.9% over the year against 21.2% for existing dwellings; investor new-build lending rose 198.7%. Tasmania’s total lending growth was the fastest among the eight states and territories, 21.7pp faster than Australia’s 6.6%.
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 $633/wk (+5.5%)
TAS as at 2026-Jun
Median Rent Growth
9.5%
+5.0pp
Australia 5.5% (-0.3pp)
TAS as at 2026-Jun
Rent as a Share of Earnings
26.9%
+1.6pp
Australia 29.4% (+0.6pp)
TAS as at 2026-Jun
TAS rolling-year rents rose 9.6%, 4.3pp faster than Australia
The rolling-year median rent reached $513 a week in June 2026, with growth accelerating from a year earlier and outpacing Australia. Regional rents rose faster than capital rents over the year. Rent growth ranked highest among five reporting states, while the rent share of full-time earnings was below the national figure.
The median rent in Tasmania reached $535 per week in the June quarter of 2026 ($513 on a rolling-year basis). The rolling-year median rose 9.6%, up from 4.5% a year earlier and 7.8% a quarter earlier. The rolling-year total rose 3.4% in the quarter, the largest rise in at least five years.
Capital city rents were $579 a week against $490 in regional areas; the supplied capital-city rent premium was 16.20%. Regional rolling-year rents rose 11.5% over the year, compared with 8.0% for capital-city rents. A house-and-unit bedroom split is not available for Tasmania. Rent growth in new tenancies was 9.5%, while CPI rents rose 2.9%, indicating the market-rent measure was running hotter than the stock measure.
Tasmania’s 9.5% median rent growth was the highest of the five reporting states and 4.2pp above Australia’s 5.3%. Victoria’s latest published figures are for the September 2025 quarter; the national series carries Victoria forward until DFFH publishes. Rent was 26.9% of full-time earnings, 2.4pp below Australia’s 29.3%, though Tasmania’s share rose 1.6pp over the year. Regional house prices rose 13.6% over the year to June 2026.
TAS against the other states
1
Median Rent Growth — Highest of 5 reporting
at 9.5% (2026-Jun)
small base
2
Rent as a Share of Earnings — 2nd lowest of 5 reporting
at 26.9% (2026-Jun)
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
5.0%
+0.5pp
Australia 4.7% (+0.3pp)
TAS as at 2026-Sep
Total Employment
279k
-3.0%
Australia 14.78m (+1.2%)
TAS as at 2026-Sep
TAS employment fell 3.0%, slowest among reporting states
The unemployment rate edged down in September but remained above the national rate. Employment and labour force levels fell over the year, with full-time employment at a five-year low. Employment growth was the slowest among six reporting states and contrasted with national growth.
Tasmania’s unemployment rate was 4.97% in September 2026, below its 10-year average of 5.17%. It fell 0.01pp in the month and rose 0.01pp over three months. The rate was 0.40pp below its five-year high of 5.37% in May 2026, after standing at a five-year low of 3.32% in August 2025.
Total employment was 278.5k, down 3.0% over the year, a loss of 8,587 people; this compares with average growth of 1.5%. Full-time employment fell 4.4%, a loss of 7,909, and reached a five-year low of 172.9k. The data supplied do not give part-time employment growth. The labour force fell 2.5% over the year, against its 1.3% average growth.
Unemployment was 0.2pp above Australia’s 4.7% and the second-highest among six reporting states. Employment fell 3.0%, 4.2pp slower than Australia’s 1.2%, and was the slowest among the six reporting states. Western Australia led employment growth at 3.7%, while South Australia was next slowest at 0.5%.
TAS against the other states
5
Unemployment Rate — 2nd highest of 6 reporting
at 5.0% (2026-Sep)
small base
6
Total Employment growth — Lowest of 6 reporting
at -3.0% (2026-Sep)
small base
Not in this comparison: NT (latest 2026-Mar), ACT (latest 2026-Mar).
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Job Advertisements
Job Advertisements
9,972
+0.6%
Australia 632,452 (+0.3%)
TAS as at 2026-Sep
TAS job ads grew 0.6%, third-fastest among eight states and territories
Job advertisements reached 10.0k in September 2026, 20.4% above their decade-average level but 25.2% below the five-year peak. Annual growth was modest, and professional ads fell in the latest quarter. Tasmania’s annual growth ranked third among the eight states and territories.
Job advertisements in Tasmania totalled 10.0k in September 2026, 20.4% above the 10-year average of 8.3k. They were 25.2% below the five-year high of 13.3k in March 2024. Ads rose 0.6% over the year, after falling 12.8% a year earlier; the latest quarter added 0.5%.
Professional ads were 3.2k, 24.3% above their 10-year average of 2.6k, though they fell 0.8% in the quarter and rose 2.0% over the year. Industrial ads were 1.9k, 24.8% above average, with annual growth of 9.4%. Sales ads were 594, 34.7% above average and grew 4.8% over the year. Sales ads had the largest level gap above their average among these categories.
Tasmanian job advertisements grew 0.6% over the year to September 2026, 0.3pp faster than Australia’s 0.3%. This was the third-fastest growth among the eight states and territories. Western Australia led at 6.8%, while the Northern Territory recorded -6.9%.
TAS against the other states
3
Job Advertisements growth — 3rd highest of 8 states
at 0.6% (2026-Sep)
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 wages grew 2.9%, second-slowest among eight states and territories
Wage growth was in line with its decade average but below Australia’s rate. Full-time weekly earnings grew more slowly than the national figure and remained below it in level terms. With inflation above wage growth over the same year, real wages fell 1.3 percentage points.
Wages grew 2.9% over the year to June 2026, as measured by the Wage Price Index, in line with the 10-year average of 2.9%. The annual rate was unchanged from a year earlier and from the preceding quarter; the latest quarter’s wage index increase was 0.5%.
Average full-time weekly earnings were $1,904 in May 2026, or $98,641 per year. Over the year to June 2026, WPI wages grew 2.9% while inflation was 4.2%, so real wages fell 1.3 percentage points.
Tasmania’s WPI growth of 2.9% was 0.3pp slower than Australia’s 3.2% and the second-slowest of the eight states and territories. Full-time weekly earnings were $1,904, 11.7% below Australia’s $2,156; their annual growth of 3.0% was 0.5pp slower than the national 3.5%.
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 grew 1.5%, fastest among eight
Household consumption reached $6.9bn in the June quarter of 2026, growing 2.1% over the year. Per-capita consumption rose 1.5%, the fastest growth among the eight states and territories, and reached a five-year high. Power and utilities growth stood out; transport and alcohol spending fell over the year.
Household consumption expenditure totalled $6.9bn in the June quarter of 2026, up 2.1% over the year against average growth of 1.9%. Per-capita consumption was $11,846, up 1.5%; its level was 4.6% above the 10-year average of $11,328. It rose 0.3% in the quarter and reached a five-year high.
Among essentials, food grew 3.0% over the year versus its 2.5% average, health grew 4.3% versus 3.0%, and transport fell 4.6% against average growth of 2.8%. Rent and dwellings rose 0.6%, below its 1.6% average. Power and utilities rose 37.7%, far above its 1.6% average. Discretionary recreation grew 2.6% and cafes and restaurants 1.6%; alcohol and tobacco fell 2.1%.
Per-capita consumption growth was 1.5%, the fastest of the eight states and territories; the next-fastest was the Northern Territory at 1.1%, and Victoria recorded 0.0%. There is no meaningful national comparator for this National Accounts measure. The latest quarter saw rises in food, rent and dwellings, power, health and recreation, while transport and alcohol and tobacco declined over the year.
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
+7.6%
Australia $246.9bn (+6.7%)
TAS as at 2026-Sep
Household Spending per Capita
$8,993
+7.2%
Australia $8,841 (+5.9%)
TAS as at 2026-Sep
TAS spending grew 7.6%, with transport up 19.3% over the year
Household spending reached $5.2bn in the three months to September 2026, up 7.6% over the year versus average growth of 5.5%. Transport growth accelerated to 19.3% over the year, while miscellaneous spending fell 0.4% over the latest three months despite annual growth of 5.9%. TAS per-capita spending growth was the third-fastest of the eight states and territories.
Household spending in Tasmania totalled $5.2bn in the three months to September 2026, up 7.6% compared with a year ago. This exceeded average growth of 5.5%. Spending per person was $3,001 in September 2026 and $35,656 annually; annual per-capita growth was 7.2%, with the three-month total of $8,993 sitting 27.1% above its 10-year average of $7,076.
Essential spending was mixed: food grew 4.5% over the year, below its 5.4% average, while health rose 3.1%, below its 5.9% average. Transport rose 19.3%, well above its 7.6% average and the strongest category growth standout. Recreation grew 8.1%, above its 4.6% average; hotels and restaurants rose 6.6%, below the 7.1% average, and clothing increased 4.8%, above its 3.8% average. Across categories, spending rose broadly in the latest three months, though miscellaneous spending fell 0.4% even as it remained 5.9% higher over the year.
Tasmania's household spending growth of 7.6% exceeded Australia's 6.7% by 0.9 percentage points. Per-capita spending was $8,993 over the three months to September 2026, compared with Australia's $8,841, and annual growth of 7.2% was 1.3 percentage points faster than the national 5.9%; this was the third-fastest growth of the eight states and territories, behind the Northern Territory at 10.7%, while the Australian Capital Territory was slowest at 4.1%.
TAS against the other states
3
Household Spending per Capita growth — 3rd highest of 8 states
at 7.2% (2026-Sep)
small base
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Inflation & Cost of Living
Consumer Price Index
105.3
+5.3%
Australia 104.3 (+4.3%)
TAS as at 2026-Sep
Housing CPI
106.9
+6.9%
Australia 105.2 (+5.2%)
TAS as at 2026-Sep
TAS inflation reached 5.3%, fastest among the eight states and territories
Inflation was 5.3% in the year to September 2026, above both the decade average and the RBA target band. The annual rate rose from the previous month, alongside a 1.1% monthly increase. Transport and insurance costs were well above their historical growth rates, while clothing inflation was unchanged over the year.
Inflation in Tasmania was 5.3% in the year to September 2026, above the 10-year average of 3.4% and the RBA’s 2–3% target band. The annual rate rose from 4.8% in August to 5.3% in September. Prices rose 1.1% in September and 2.9% over the three months. The annual rate remains below its five-year peak of 8.6% in September 2022.
Transport inflation was 10.3%, against its 3.9% decade average, while insurance and financial services rose 9.3% versus 3.2%. Housing inflation was 6.9%, above its 4.3% average; recreation and culture rose 5.4% versus 2.7%. Food inflation was 3.5%, above 3.0%, and education was 3.8%, above 3.6%. Health rose 3.3%, below its 3.6% average, while clothing inflation was unchanged against average growth of 0.8%.
Tasmania’s inflation rate of 5.3% was 1.0pp above Australia’s 4.3%, the fastest of the eight states and territories. Housing inflation was 6.9%, 1.7pp above Australia’s 5.2%, and third-fastest among the eight. Over the year to June 2026, WPI wages grew 2.9% while inflation was 4.2%, so real wages fell 1.3 percentage points.
TAS against the other states
8
Consumer Price Index growth — Highest of 8 states
at 5.3% (2026-Sep)
small base
6
Housing CPI growth — 3rd highest of 8 states
at 6.9% (2026-Sep)
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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