Suburb Profile Report for Prospect Vale TAS (7250)

Prospect Vale House: Median price $350,000, Annual capital growth 1.76%, Number of sales 84, Weekly median advertised rent $350

Prospect Vale Unit: Median price $277,500, Annual capital growth 2.54%, Number of sales 57, Weekly median advertised rent $260

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

If you compare the increase in value of investment property in Prospect Vale, 7250 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this TAS suburb was 0.00%.

If we look at median property appreciation over just the last three months, Prospect Vale has given property investors a paper return of -2.78%. This puts Suburb as 184 on a list of fastest fasting appreciating suburbs in TAS

Prospect Vale, 7250 is offering TAS ‘s 41th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this TAS.

Often selling an investment property can take time, and in Prospect Vale the average time real estate has been on the market is 48.33 days.

Situated 156.83km from the CBD, Prospect Vale is one of Meander Valley (M) localities in the postcode 7250.

TAS has seen average median house prices change by 7.81% which means that Prospect Vale, 7250 has done well for property investors by showing a capital gain of 9.25% over the last year

If we look at median property appreciation over just the last three months, Prospect Vale has given property investors a paper return of 11.56%. This puts Suburb as 3 on a list of fastest fasting appreciating suburbs in TAS

Our latest figures would indicate that property sellers in Prospect Vale are currently offering property investors an average price cut of -3.23% below the asking price at the moment.

On average over the past year, suburb has had 4.75 sales per month, which equates to 57 per year.

Advertised rents are around the $260 mark per week – giving a return of 4.87% based on the median price in Suburb

Information supplied by:


November 2018

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The Greater Launceston suburb of Prospect Vale is benefitting from renewed investor interest in the Apple Isle. House values saw a boost of 5.1% in the 12 months to August 2018, bringing the median price past $350,000 and continuing a long-term trendFull summary

Housing supply slip could create competition

Postcode: 7250

Median house price: $357,500

Stock on market: -23.5%

12-month growth: 5.1%

The Greater Launceston suburb of Prospect Vale is benefitting from renewed investor interest in the Apple Isle. House values saw a boost of 5.1% in the 12 months to August 2018, bringing the median price past $350,000 and continuing a long-term trend.

The number of houses on the market also dropped considerably from 45 in August 2017 to just 25 a year later. The limited supply could strongly enhance demand, pushing house values further upward.

The suburb was originally a settlement for cattle, but it has since become commercialised. Prospect High School is located here, along with St Patrick’s College. The Prospect Vale Marketplace is a shopping hub that contains a Woolworths. An industrial park has also been established in this area. For sportspeople, St Patrick’s Old Collegians Football Club Oval serves as a facility.

Close
Metrics i HOUSE UNIT
$350,000 $277,500
-2.78% 11.56%
0.00% 9.25%
1.76% 2.54%
$350 $260
84 57
5.20% 4.87%
48.33 91.75

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 5020
Median household income ($/weekly) 942
Median age of persons 42
Median housing loan repayment ($/monthly) 1500
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 590 11.8
    25-34 years 499 9.9
    35-44 years 677 13.5
    45-54 years 693 13.8
    55-64 years 634 12.6
    Others 1927 38.4
    Age Group
    Census Count Percent(%)
    Registered Married 1933 51.1
    Not Married 1517 40.1
    Defacto Relationship 332 8.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 4372 89.8
    New Zealand 32 0.7
    Papua New Guinea 39 0.8
    United Kingdom 205 4.2
    Other 49 1.0
    Others 174 3.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 25 0.5
    Christianity 3595 76.8
    Hinduism 11 0.2
    Other Religious Groups 14 0.3
    No Religion 1030 22.0
    Others 6 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 197 10.7
    $400-$599 268 14.6
    $600-$799 227 12.4
    $1,500-$1,999 220 12.0
    $2,000-$2,499 182 9.9
    Others 739 40.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1609 39.8
    Employed, worked full-time 1421 35.1
    Employed, worked part-time 754 18.6
    Employed, away from work 148 3.7
    Unemployed, looking for work 113 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 292 12.6
    Professionals 348 15.0
    Technicians & trades workers 344 14.8
    Clerical & administrative workers 402 17.3
    Sales 290 12.5
    Others 650 27.9
    Occupation
    Census Count Percent(%)
    Pre-school 50 4.7
    Infants/Primary 401 38.0
    Secondary 324 30.7
    Technical or Further Educational Institution 124 11.7
    University or other Tertiary Institutions 122 11.6
    Others 35 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4154 87.9
    Semi-detached, row or terrace house, townhouse 319 6.8
    Flat, unit or apartment 252 5.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 777 39.2
    Being purchased 697 35.2
    Rented 496 25.1
    Other tenure type 10 0.5
    Tenure Type
Census 2011, ABS
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