Property investors who have had real estate in Launceston, 7250 should be pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 13.24%
Launceston,7250 was ranked 561 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Launceston should be aiming for at least -7.16% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 6.50 sales per month, which equates to 78 per year.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 2.85%, investors should hope to achieve an overall return of 4.73%
Investment property in Launceston has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.94%
Comparing Launceston,7250 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in Launceston is giving property investors an average Vendor Discount of around -5.93%. This puts suburb at number 17th in TAS when ranking the most discounted suburbs.
Residents and property investors in Launceston have been waiting around 55.28 days to sell a property.