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%