This type of tunic is similar to the high belted tunic popular during the mid-twenties.
The difference being only in the fabric used. Most appear to be knitted, some knitted and felted, others appear to be a soft brushed woven fabric.
It hangs rather like a long loose fitting cardigan where the high-belt tunic owes more to tailoring and use of suiting cloth.
Interestingly the belt is usually simply looped,as was the fashion; never knotted or tied in a bow.