Suburb Profile Report for West Launceston TAS (7250)

West Launceston House: Median price $306,000, Annual capital growth 1.96%, Number of sales 98, Weekly median advertised rent $320

West Launceston Unit: Median price $240,500, Annual capital growth 3.80%, Number of sales 20, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in West Launceston, 7250 have given investors a capital gain of 5.88%. This compares badly with the 8.18% for TAS as a whole.

If we look at median property appreciation over just the last three months, West Launceston has given property investors a paper return of 2.00%. This puts Suburb as 84 on a list of fastest fasting appreciating suburbs in TAS

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 -4.99% is being offered, which puts this TAS suburb at 2221th most discounted overall in Australia.

At number 740 in a list of fastest selling suburbs, West Launceston is in the TOP 20% of suburbs in Australia with an average of days on market 49.25 for properties listed there.

West Launceston, 7250’s gross rental yield is 5.44%

Over the last year, property investments in West Launceston, 7250 have given investors a capital gain of 18.25%. This compares favourably with the 5.89% for TAS as a whole.

West Launceston,7250 has offered an average of 18.25% return per annum in house price rises to property investors over the last three years.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.05% offered to property buyers. Sellers in West Launceston itself are offering an average vendor discount of -3.52% to real estate investors.

Using the current median advertised rental of $250 and the average annual increase in value of a median property of 3.80%, investors should hope to achieve an overall return of 5.41%

Metrics i HOUSE UNIT
$306,000 $240,500
2.00% 11.73%
5.88% 18.25%
1.96% 3.80%
$320 $250
98 20
5.44% 5.41%
49.25 73.84

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
Find a mortgage broker in West Launceston TAS
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
Chart Table
Recent sales & rentals