Suburb Profile Report for South Launceston TAS (7249)

South Launceston House: Median price $275,000, Annual capital growth 2.22%, Number of sales 130, Weekly median advertised rent $300

South Launceston Unit: Median price $258,500, Annual capital growth 3.68%, Number of sales 21, Weekly median advertised rent $260

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

Source: CoreLogic

  • House Report
  • Unit Report

South Launceston has had a quite poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of 1.85% to date .

Over the longer term, South Launceston has seen property prices show investors a 13.40% return over the last 3 years. This is worse than over the last 12 months

LACK OF BUYER INTEREST may well be the reason that South Launceston is offering property investors an average of -6.05. This rate of discount on properties puts Suburb at number 93th in terms of most discounted suburbs in TAS

At number 1181 in a list of fastest selling suburbs, South Launceston is in the TOP 40% of suburbs in Australia with an average of days on market 59.45 for properties listed there.

With the median price for a house in South Launceston being $275000 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 5.67%

Property investors who have had real estate in South Launceston, 7249 should be unhappy with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -11.32%

When looking at the potential capital gains offered to property investors over the last 3 years, South Launceston comes in at number 5th in TAS.

Sellers are offering property buyers an average discount of -10.76% to buyers in South Launceston at the moment, which is less than average for the rest of TAS.

Using the current median advertised rental of $260 and the average annual increase in value of a median property of 3.68%, investors should hope to achieve an overall return of 5.23%

Metrics i HOUSE UNIT
$275,000 $258,500
2.19% 8.05%
1.85% -11.32%
2.22% 3.68%
$300 $260
130 21
5.67% 5.23%
59.45 109.78

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 4447
Median household income ($/weekly) 957
Median age of persons 35
Median housing loan repayment ($/monthly) 1300
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 453 10.2
    25-34 years 791 17.8
    35-44 years 604 13.6
    45-54 years 476 10.7
    55-64 years 435 9.8
    Others 1687 37.9
    Age Group
    Census Count Percent(%)
    Not Married 1681 50.9
    Registered Married 1126 34.1
    Defacto Relationship 493 14.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3737 87.1
    Indonesia 37 0.9
    Papua New Guinea 53 1.2
    United Kingdom 151 3.5
    Other 113 2.6
    Others 201 4.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 47 1.1
    Christianity 2486 60.7
    Hinduism 22 0.5
    Islam 23 0.6
    No Religion 1495 36.5
    Others 21 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 248 14.0
    $600-$799 208 11.8
    $800-$999 179 10.1
    $1,000-$1,249 182 10.3
    $1,500-$1,999 219 12.4
    Others 731 41.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1350 37.2
    Not in the labour force 1268 34.9
    Employed, worked part-time 729 20.1
    Employed, away from work 145 4.0
    Unemployed, looking for work 137 3.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 238 10.7
    Professionals 523 23.5
    Technicians & trades workers 330 14.8
    Community & personal service workers 288 12.9
    Clerical & administrative workers 281 12.6
    Others 564 25.4
    Occupation
    Census Count Percent(%)
    Infants/Primary 310 33.0
    Secondary 187 19.9
    Technical or Further Educational Institution 126 13.4
    University or other Tertiary Institutions 263 28.0
    Other type of educational institution 27 2.9
    Others 25 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3268 80.8
    Flat, unit or apartment 490 12.1
    Semi-detached, row or terrace house, townhouse 252 6.2
    Caravan, cabin, houseboat 24 0.6
    House or flat attached to a shop, office 11 0.3
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 792 42.4
    Being purchased 625 33.4
    Fully owned 421 22.5
    Other tenure type 32 1.7
    Tenure Type
Census 2011, ABS
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