Suburb Profile Report for Summerhill TAS (7250)

Summerhill House: Median price $279,000, Annual capital growth 2.78%, Number of sales 48, Weekly median advertised rent $300

Summerhill Unit: Median price $191,750, Annual capital growth -2.98%, Number of sales 10, Weekly median advertised rent $240

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Summerhill has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 4.49%

The five-year average increase in median property values for Summerhill,7250 has given property investors a potential capital gain of 7.31% across each of those five years.

Summerhill7250 is located in TAS which offers an average discount of -7.05% to property investors. Summerhill itself is showing figures that indicate -4.81% is the average achievable by property buyers investing in the suburb.

Advertised rents are around the $300 mark per week – giving a return of 5.59% based on the median price in Suburb

At number 994th in the list of Australian suburbs ordered by increase in median house value over the last year, Summerhill, 7250 is in the BOTTOM 50% with a property value increase of 1.72% recorded in median house prices.

Using the current median advertised rental of $240 and the average annual increase in value of a median property of -2.98%, investors should hope to achieve an overall return of 6.51%

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Summerhill is situated 3km to the south of the Launceston CBD. It’s a primarily residential suburb, but is located within each reach of two shopping centres, primary and secondary schooling, medical facilities, parks and public transport. Properties to the north-west of the suburb also overlook the Trevallyn recreational area and the South Esk River. Full summary
Summerhill is situated 3km to the south of the Launceston CBD. It’s primarily a residential suburb, but is located within each reach of two shopping centres, primary and secondary schooling, medical facilities, parks and public transport. Properties to the north-west of the suburb also overlook the Trevallyn recreational area and the South Esk River.
The suburb is dominated by families, with ABS figures reporting that more than half of its residents are aged between 20 and 60. Weekly family incomes are higher than the Tasmanian average, too, with SQM Research projections pegging salaries at $1,203pw. Twenty-seven per cent of properties are rented, with the remainder either paid off (40%) or under mortgage.
It’s an affordable suburb, with the median house price around $50,000 lower than northern neighbour West Launceston. Rents are comparable to West Launceston too. Herron Todd White’s Andrew Peck reckons that market conditions are contributing to high rental yields.
“With current housing stress, rents have been increasing and this suburb provides affordable family housing,” he says.
Peck adds that properties in the area are typically 1970s three-bedroom, one-bathroom, low set brick homes, and generally low maintenance. The fact that many houses are 1970s properties may also provide opportunities to add value via cosmetic renovation.
Close
HOUSE UNIT
$279,000 $191,750
3.33% -7.81%
4.49% 1.72%
2.78% -2.98%
$300 $240
48 10
5.59% 6.51%
60.04 N/A

Source: CoreLogic

DSR Score for property investment : Very good (H), Above average (U)
Find a mortgage broker in Summerhill TAS
Demographics
Total population 3160
Median household income ($/weekly) 956
Median age of persons 38
Median housing loan repayment ($/monthly) 1343
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 409 12.9
    25-34 years 413 13.1
    35-44 years 428 13.5
    45-54 years 432 13.7
    55-64 years 380 12.0
    Others 1098 34.7
    Age Group
    Census Count Percent(%)
    Registered Married 1094 47.0
    Not Married 971 41.7
    Defacto Relationship 264 11.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2788 92.2
    Papua New Guinea 27 0.9
    Philippines 16 0.5
    United Kingdom 91 3.0
    Other 17 0.6
    Others 85 2.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 14 0.5
    Christianity 2095 72.3
    Hinduism 7 0.2
    Other Religious Groups 8 0.3
    No Religion 772 26.6
    Others 3 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 158 14.1
    $600-$799 154 13.7
    $1,000-$1,249 118 10.5
    $1,250-$1,499 120 10.7
    $1,500-$1,999 152 13.5
    Others 420 37.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 904 37.2
    Not in the labour force 810 33.3
    Employed, worked part-time 529 21.8
    Employed, away from work 107 4.4
    Unemployed, looking for work 79 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 207 13.4
    Technicians & trades workers 285 18.5
    Community & personal service workers 194 12.6
    Clerical & administrative workers 225 14.6
    Sales 208 13.5
    Others 422 27.4
    Occupation
    Census Count Percent(%)
    Pre-school 17 2.5
    Infants/Primary 282 41.6
    Secondary 213 31.4
    Technical or Further Educational Institution 71 10.5
    University or other Tertiary Institutions 82 12.1
    Others 13 1.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2796 94.0
    Flat, unit or apartment 126 4.2
    Semi-detached, row or terrace house, townhouse 52 1.7
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 474 39.3
    Fully owned 388 32.1
    Rented 345 28.6
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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Recent sales & rentals