Suburb Profile Report for Prospect Vale TAS (7250)

Prospect Vale House: Median price $360,000, Annual capital growth 1.78%, Number of sales 99, Weekly median advertised rent $348

Prospect Vale Unit: Median price $247,000, Annual capital growth 1.65%, Number of sales 63, Weekly median advertised rent $260

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

Prospect Vale has had a quite poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of 2.27% to date .

While Prospect Vale,7250 ranked number 134th in TAS for increase in median house value (annualised) increase, it is ranked 146th over the last 5 years.

Prospect Vale7250 is located in TAS which offers an average discount of -6.10% to property investors. Prospect Vale itself is showing figures that indicate -4.57% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in Prospect Vale the average time real estate has been on the market is 66.93 days.

Advertised rents are around the $347.5 mark per week – giving a return of 5.02% based on the median price in Suburb

Giving property investors a a poor capital gain of -7.66% for the last year, Prospect Vale, 7250 is the 1398th highest performer in Australia in this respect.

Across a shorter period, Prospect Vale, 7250 has seen a median price increase of 2.92% over the last quarter.

Our latest figures would indicate that property sellers in Prospect Vale are currently offering property investors an average price cut of -3.88% below the asking price at the moment.

Often selling an investment property can take time, and in Prospect Vale the average time real estate has been on the market is 108.3 days.

The TAS suburb of Prospect Vale, 7250 is in the Meander Valley (M) local government area.

Information supplied by:


November 2018

M
O

W
E
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
$360,000 $247,000
0.00% 2.92%
2.27% -7.66%
1.78% 1.65%
$348 $260
99 63
5.02% 5.47%
66.93 108.3

Source: CoreLogic

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