Suburb Profile Report for Prospect TAS (7250)

Prospect House: Median price $276,500, Annual capital growth 2.11%, Number of sales 29, Weekly median advertised rent $300

Prospect Unit: Median price $230,000, Annual capital growth 3.73%, Number of sales 16, Weekly median advertised rent $245

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Prospect have tracked close to the TAS average of 3.72% over the last 12 months.

The five-year average increase in median property values for Prospect,7250 has given property investors a potential capital gain of -4.66% across each of those five years.

State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.15% offered to property buyers. Sellers in Prospect itself are offering an average vendor discount of -7.59% to real estate investors.

With the median price for a house in Prospect being $276500 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 5.64%

With a capital gain of -2.95% for the last 12 months, Prospect, 7250 has performed for property investments than its average annual 3.73% property growth over the last 5 years.

Across a shorter period, Prospect, 7250 has seen a median price increase of -11.54% over the last quarter.

Our latest figures would indicate that property sellers in Prospect are currently offering property investors an average price cut of -3.13% below the asking price at the moment.

In the last year 16 properties changed hands in Prospect, which puts it as the 32th most active market in TAS when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $2940 per annum or $245 every week.

HOUSE UNIT
$276,500 $230,000
4.73% -11.54%
4.34% -2.95%
2.11% 3.73%
$300 $245
29 16
5.64% 5.54%
63.69 34

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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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
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