Tasmanian housing is becoming more affordable

First home buyers might be interested to find that housing in many parts of Tasmania is becoming more affordable.

The June Property Report carried out by the Real Estate Institute of Tasmania (REIT) and released on August 1 shows that there has been a drop in housing sales across the state.

Real Estate Institute of Tasmania president Adrian Kelly said: "The median house price for Tasmania decreased by 3.3 per cent to sit at $290,000 for the quarter, representing a 4.9 per cent decrease for the entire year."

Hobart is one of the few places in the state to see increase in house prices of 4.8 per cent, he said.

The report's results showed which suburbs risen in price and where the suburbs that represent the best value for money are, he said.

According to the report, Acton Park, Sandy Bay, Tolmans Hill, Tranmere and Taroona were the highest priced suburbs, whereas Smithton, Ravenswood, New Norfolk, George Town and Queenstown made the list as the most economical suburbs to live in. It was encouraging to see that first home buyers accounted for 15 per cent of the house sales, he said.