Suburb Profile Report for West Launceston TAS (7250)

West Launceston House: Median price $300,000, Annual capital growth 2.22%, Number of sales 90, Weekly median advertised rent $320

West Launceston Unit: Median price $215,250, Annual capital growth 0.80%, 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

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%.

Metrics i HOUSE UNIT
$300,000 $215,250
0.00% N/A
-1.64% -9.75%
2.22% 0.80%
$320 $250
90 22
5.55% 6.04%
57.18 65.53

Source: CoreLogic

DSR Score for property investment : 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