Suburb Profile Report for West Launceston TAS (7250)

West Launceston House: Median price $296,000, Annual capital growth 2.28%, Number of sales 66, Weekly median advertised rent $300

West Launceston Unit: Median price $215,250, Annual capital growth 2.70%, Number of sales 22, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

West Launceston is in the bottom 30% in TAS when comparing median price capital growth over the last year. West Launceston gave property investors a disappointing capital gain figure when compared to the rest of the state, with -2.95%.

Comparing West Launceston,7250 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

West Launceston7250 is located in TAS which offers an average discount of -7.18% to property investors. West Launceston itself is showing figures that indicate -6.26% is the average achievable by property buyers investing in the suburb.

In the last year 66 properties changed hands in West Launceston, which puts it as the 29th most active market in TAS when comparing the number of sales per suburb.

West Launceston is 82th on a list of best yielding suburbs for rents in TAS with a 5.27% return

Property investors who have had real estate in West Launceston, 7250 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 -14.20%

Taking the average capital gain, or increase in median house value, West Launceston,7250 has racked up an average of -14.20% over the period. This ranks it number 1493th in the whole country for real estate investors looking at median house price increases.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in West Launceston, 7250. Typically our figures indicate that -6.56% is being offered, which puts this TAS suburb at 348th most discounted overall in Australia.

Residents and property investors in West Launceston have been waiting around 63 days to sell a property.

With the median price for a house in West Launceston being $215250 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 6.04%

HOUSE UNIT
$296,000 $215,250
0.34% 5.83%
-2.95% -14.20%
2.28% 2.70%
$300 $250
66 22
5.27% 6.04%
81.41 63

Source: CoreLogic

DSR Score for property investment : Very good (H), Above average (U)
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Demographics
Total population 4029
Median household income ($/weekly) 1123
Median age of persons 39
Median housing loan repayment ($/monthly) 1328
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 501 12.4
    25-34 years 529 13.1
    35-44 years 611 15.2
    45-54 years 602 14.9
    55-64 years 505 12.5
    Others 1282 31.8
    Age Group
    Census Count Percent(%)
    Registered Married 1380 46.2
    Not Married 1294 43.3
    Defacto Relationship 314 10.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3418 87.9
    Greece 26 0.7
    Papua New Guinea 40 1.0
    United Kingdom 170 4.4
    Other 71 1.8
    Others 164 4.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 34 0.9
    Christianity 2358 63.4
    Islam 17 0.5
    Other Religious Groups 17 0.5
    No Religion 1280 34.4
    Others 12 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 190 12.8
    $600-$799 155 10.4
    $1,000-$1,249 137 9.2
    $1,500-$1,999 204 13.7
    $2,000-$2,499 138 9.3
    Others 665 44.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1234 38.7
    Not in the labour force 969 30.4
    Employed, worked part-time 782 24.5
    Employed, away from work 102 3.2
    Unemployed, looking for work 101 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 242 11.4
    Professionals 576 27.1
    Technicians & trades workers 278 13.1
    Community & personal service workers 259 12.2
    Clerical & administrative workers 277 13.0
    Others 491 23.1
    Occupation
    Census Count Percent(%)
    Pre-school 33 3.3
    Infants/Primary 364 36.6
    Secondary 241 24.2
    Technical or Further Educational Institution 118 11.9
    University or other Tertiary Institutions 217 21.8
    Others 21 2.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3371 89.3
    Flat, unit or apartment 317 8.4
    Semi-detached, row or terrace house, townhouse 73 1.9
    Improvised home, tent, sleepers out 11 0.3
    House or flat attached to a shop, office 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 627 39.0
    Fully owned 544 33.8
    Rented 430 26.7
    Other tenure type 7 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals