Suburb Profile Report for Prospect TAS (7250)

Prospect House: Median price $264,000, Annual capital growth 2.03%, Number of sales 31, Weekly median advertised rent $300

Prospect Unit: Median price $235,000, Annual capital growth 4.98%, Number of sales 12, Weekly median advertised rent $235

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

Source: CoreLogic

  • House Report
  • Unit Report

Prospect, 7250 ranked 140th in TAS when comparing growth in median property values or capital gain over the last 12 months. Prospect is one of 606 in our list for TAS

Comparing Prospect,7250 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period

Vendor discounting in Prospect is giving property investors an average Vendor Discount of around -8.11%. This puts suburb at number 35th in TAS when ranking the most discounted suburbs.

In the last year 31 properties changed hands in Prospect, which puts it as the 86th most active market in TAS when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $3600 per annum or $300 every week.

With a capital gain of -16.07% for the last 12 months, Prospect, 7250 has performed for property investments than its average annual 4.98% property growth over the last 5 years.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Prospect has increased when compared to the 5 year average annual rate.

Property buyers and investors in Prospect 7250 should be seeing an average reduction in asking price of around -2.94% . This means that Prospect is holding prices well when compared to other suburbs in TAS.

Residents and property investors in Prospect have been waiting around 51.54 days to sell a property.

Situated 157.85km from the CBD, Prospect is one of Launceston localities in the postcode 7250.

HOUSE UNIT
$264,000 $235,000
-3.30% 9.30%
-4.00% -16.07%
2.03% 4.98%
$300 $235
31 12
5.91% 5.20%
84.96 51.54

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
Find a mortgage broker in Prospect TAS
Demographics
Total population 1438
Median household income ($/weekly) 871
Median age of persons 43
Median housing loan repayment ($/monthly) 1100
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 153 10.6
    25-34 years 147 10.2
    35-44 years 196 13.6
    45-54 years 175 12.2
    55-64 years 200 13.9
    Others 567 39.4
    Age Group
    Census Count Percent(%)
    Registered Married 483 44.4
    Not Married 464 42.6
    Defacto Relationship 142 13.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 1221 89.8
    New Zealand 13 1.0
    Papua New Guinea 8 0.6
    United Kingdom 49 3.6
    Other 36 2.6
    Others 32 2.4
    Country of Birth
    Census Count Percent(%)
    Christianity 999 74.8
    No Religion 324 24.3
    Buddhism 6 0.4
    Other Religious Groups 4 0.3
    Hinduism 3 0.2
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 63 12.0
    $400-$599 93 17.7
    $600-$799 56 10.6
    $800-$999 53 10.1
    $1,500-$1,999 56 10.6
    Others 205 39.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 462 40.4
    Employed, worked full-time 393 34.4
    Employed, worked part-time 220 19.2
    Unemployed, looking for work 35 3.1
    Employed, away from work 33 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 73 11.4
    Professionals 109 17.0
    Technicians & trades workers 107 16.6
    Community & personal service workers 75 11.7
    Clerical & administrative workers 97 15.1
    Others 182 28.3
    Occupation
    Census Count Percent(%)
    Pre-school 14 5.3
    Infants/Primary 98 37.0
    Secondary 81 30.6
    Technical or Further Educational Institution 40 15.1
    University or other Tertiary Institutions 29 10.9
    Others 3 1.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1219 91.5
    Semi-detached, row or terrace house, townhouse 106 8.0
    Flat, unit or apartment 7 0.5
    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 205 35.7
    Being purchased 188 32.8
    Rented 171 29.8
    Other tenure type 10 1.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals