TAS has seen average median house prices change by 6.16% which means that West Launceston, 7250 has done well for property investors by showing a capital gain of -1.64% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Launceston has increased when compared to the 5 year average annual rate.
Property investors looking for a bargain in West Launceston should be aiming for at least -5.86% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 7.50 sales per month, which equates to 90 per year.
Advertised rents are around the $320 mark per week – giving a return of 5.55% based on the median price in Suburb
Property value increases in West Launceston have tracked lower than the TAS average of 3.47% over the last 12 months.
West Launceston7250 is located in TAS which offers an average discount of -5.10% to property investors. West Launceston itself is showing figures that indicate -4.86% is the average achievable by property buyers investing in the suburb.
A $250 per week rent on the median house gives suburb investors a gross yield of circa 6.04%, without taking into account capital value appreciation, which has been averaging out at 0.80%.