TAS has seen average median house prices change by 4.21% which means that Kings Meadows, 7249 has done well for property investors by showing a capital gain of 5.38% over the last year
Kings Meadows,7249 was ranked 2911 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -7.58% to buyers in Kings Meadows at the moment, which is less than average for the rest of TAS.
A $300 per week rent on the median house gives suburb investors a gross yield of circa 6.37%, without taking into account capital value appreciation, which has been averaging out at 1.86%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Kings Meadows has increased when compared to the 5 year average annual rate.
Vendor discounting in Kings Meadows is giving property investors an average Vendor Discount of around -7.26%. This puts suburb at number 6th in TAS when ranking the most discounted suburbs.
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
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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.
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.