Suburb Profile Report for Kings Meadows TAS (7249)

Kings Meadows House: Median price $245,000, Annual capital growth 1.89%, Number of sales 93, Weekly median advertised rent $308

Kings Meadows Unit: Median price $208,500, Annual capital growth 2.51%, Number of sales 15, Weekly median advertised rent $230

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

If you compare the increase in value of investment property in Kings Meadows, 7249 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this TAS suburb was 4.26%.

The five-year average increase in median property values for Kings Meadows,7249 has given property investors a potential capital gain of 0.00% across each of those five years.

Vendor discounting in Kings Meadows is giving property investors an average Vendor Discount of around -6.80%. This puts suburb at number 71th in TAS when ranking the most discounted suburbs.

Renters in Suburb are facing rents around $3696 per annum or $308 every week.

Over the last year, property investments in Kings Meadows, 7249 have given investors a capital gain of -6.08%. This compares very badly with the 3.60% for TAS as a whole.

Across a shorter period, Kings Meadows, 7249 has seen a median price increase of 3.60% over the last quarter.

Our latest figures would indicate that property sellers in Kings Meadows are currently offering property investors an average price cut of -7.32% below the asking price at the moment.

Residents and property investors in Kings Meadows have been waiting around 138.76 days to sell a property.

With the median price for a house in Kings Meadows being $208500 and the advertised rent reaching $230 the gross rental yield for property investors calculates out to be 5.74%

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Kings Meadows lies 4km south of the Launceston CBD, and combines affordability, amenities and proximity to the centre of Launceston. Access to the city centre is via the Midland Highway and the quieter Talbot Road, and regular buses service the suburb. Full summary

Kings Meadows lies 4km south of the Launceston CBD, and combines affordability, amenities and proximity to the centre of Launceston. Access to the city centre is via the Midland Highway and the quieter Talbot Road, and regular buses service the suburb.

The median house price is lower than northern neighbour South Launceston, and Norwood. It’s well-served for amenities: Kings Meadows is home to the largest shopping centre in Launceston, the Meadow Mews shopping centre, which features a Coles as well as various speciality stores.

The Kings Meadows high school is situated within the suburb, and there is a primary school in nearby Norwood. It’s a family suburb, with an even mix of white-collar and blue-collar workers. The weekly family income is above the Tasmanian average, however, and there is a healthy rental market (around one-third of properties are rented). 

Like the rest of Tasmania, capital growth has slowed in recent times. However, older properties may present renovation opportunities, while homes on larger blocks could be subdivided and developed.

 

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Metrics i HOUSE UNIT
$245,000 $208,500
-0.41% 3.60%
4.26% -6.08%
1.89% 2.51%
$308 $230
93 15
6.54% 5.74%
75.5 138.76

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 3371
Median household income ($/weekly) 791
Median age of persons 40
Median housing loan repayment ($/monthly) 1300
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 360 10.7
    25-34 years 455 13.5
    35-44 years 400 11.9
    45-54 years 410 12.2
    55-64 years 344 10.2
    Others 1402 41.6
    Age Group
    Census Count Percent(%)
    Not Married 1208 47.9
    Registered Married 1031 40.9
    Defacto Relationship 283 11.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 2908 89.2
    Japan 21 0.6
    Papua New Guinea 21 0.6
    United Kingdom 123 3.8
    Other 58 1.8
    Others 129 4.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 18 0.6
    Christianity 2192 71.2
    Hinduism 15 0.5
    Islam 16 0.5
    No Religion 823 26.7
    Others 14 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 185 14.0
    $400-$599 228 17.3
    $600-$799 173 13.1
    $1,000-$1,249 125 9.5
    $1,500-$1,999 134 10.2
    Others 472 35.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1162 42.9
    Employed, worked full-time 863 31.9
    Employed, worked part-time 487 18.0
    Employed, away from work 104 3.8
    Unemployed, looking for work 92 3.4
    Person Characteristics
  • Census Count Percent(%)
    Professionals 238 16.4
    Technicians & trades workers 238 16.4
    Community & personal service workers 187 12.9
    Clerical & administrative workers 212 14.6
    Sales 152 10.5
    Others 426 29.3
    Occupation
    Census Count Percent(%)
    Infants/Primary 239 35.4
    Secondary 207 30.7
    Technical or Further Educational Institution 114 16.9
    University or other Tertiary Institutions 73 10.8
    Other type of educational institution 24 3.6
    Others 18 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2948 93.0
    Flat, unit or apartment 127 4.0
    Semi-detached, row or terrace house, townhouse 95 3.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 476 34.8
    Rented 434 31.7
    Being purchased 429 31.4
    Other tenure type 28 2.0
    Tenure Type
Census 2011, ABS
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