Suburb Profile Report for West Launceston TAS (7250)

West Launceston House: Median price $300,000, Annual capital growth 2.21%, Number of sales 73, Weekly median advertised rent $320

West Launceston Unit: Median price $219,000, Annual capital growth 2.87%, Number of sales 24, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of -1.64% for the last 12 months, West Launceston, 7250 has performed for property investments than its average annual 2.21% property growth over the last 5 years.

West Launceston,7250 has offered an average of -1.64% return per annum in house price rises to property investors over the last three years.

State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.06% offered to property buyers. Sellers in West Launceston itself are offering an average vendor discount of -6.75% to real estate investors.

Residents and property investors in West Launceston have been waiting around 68.87 days to sell a property.

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 3.83% over the last 12 months.

The five-year average increase in median property values for West Launceston,7250 has given property investors a potential capital gain of -17.36% across each of those five years.

Property buyers and investors in West Launceston 7250 should be seeing an average reduction in asking price of around -5.79% . This means that West Launceston is holding prices well when compared to other suburbs in TAS.

With the median price for a house in West Launceston being $219000 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 5.94%

HOUSE UNIT
$300,000 $219,000
-0.99% 3.06%
-1.64% -13.28%
2.21% 2.87%
$320 $250
73 24
5.55% 5.94%
68.87 60.66

Source: CoreLogic

DSR Score for property investment : Balanced (U), Good (H)
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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