Suburb Profile Report for Legana TAS (7277)

Legana House: Median price $410,000, Annual capital growth 4.48%, Number of sales 73, Weekly median advertised rent $370

Legana Unit: Median price $290,000, Annual capital growth 0.96%, Number of sales 23, Weekly median advertised rent $318

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

Source: Monthly data update for Jul 2019 as supplied by CoreLogic. Data is reported to the period ending Apr 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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TAS has seen average median house prices change by 7.76% which means that Legana, 7277 has done well for property investors by showing a capital gain of 5.73% over the last year

While Legana,7277 ranked number 90th in TAS for increase in median house value (annualised) increase, it is ranked 81th over the last 5 years.

The most recent median price for Legana is $410000, with sellers offering an average of -5.57% off the asking price.

A $370 per week rent on the median house gives suburb investors a gross yield of circa 4.64%, without taking into account capital value appreciation, which has been averaging out at 4.48%.

Legana has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -7.87% to date .

A 1.72% growth in median value for property investors in Legana,7277 puts this suburb at number 41th in terms of best performing suburbs in TAS

Sellers are offering property buyers an average discount of -0.88% to buyers in Legana at the moment, which is less than average for the rest of TAS.

Often selling an investment property can take time, and in Legana the average time real estate has been on the market is 101.813 days.

The TAS suburb of Legana, 7277 is in the West Tamar (M) local government area.

Information supplied by:


December 2018

M
O

W
E

Growth slows in wine hub

Postcode: 7277

Median unit price: $303,000

Three-year growth: 8.8%

Rental yield: 5.3%

Just approximately 10 minutes from Launceston, the suburb of Legana is close to the Tamar Valley wineries.

Aside from being along the wine route, Legana is also a short distance from Riverside, putting families in proximity to Riverside Primary School and Riverside High School. The suburb is also home to a shopping centre, supermarkets, cafes, a pub and restaurants. Social activities are centred on sports – the community precinct is home to the Legana Cricket Club and a bicycle dirt jump park.

Following a strong run over the 2013-2018 period, however, Legana’s unit market may be easing up, with value increases going from double-digit to single-digit growth. Nonetheless, Launceston has gotten some shine lately with some spillover from Hobart – coupled with the affordability of Legana apartments and its strong rental returns, we could see things pick up again.

Metrics i HOUSE UNIT
$410,000 $290,000
1.22% 0.00%
5.73% -7.87%
4.48% 0.96%
$370 $318
73 23
4.64% 5.88%
62.092594 101.8125

Source: Monthly data update for Jul 2019 as supplied by CoreLogic. Data is reported to the period ending Apr 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 3678
Median household income ($/weekly) 1271
Median age of persons 40
Median housing loan repayment ($/monthly) 1528
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 589 16.0
    35-44 years 549 14.9
    45-54 years 508 13.8
    55-64 years 424 11.5
    65-74 years 335 9.1
    Others 1273 34.6
    Age Group
    Census Count Percent(%)
    Registered Married 1553 60.6
    Not Married 807 31.5
    Defacto Relationship 203 7.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3100 85.9
    New Zealand 53 1.5
    Papua New Guinea 38 1.1
    United Kingdom 239 6.6
    Other 57 1.6
    Others 123 3.4
    Country of Birth
    Census Count Percent(%)
    Christianity 2413 71.8
    No Religion 907 27.0
    Hinduism 20 0.6
    Other Religious Groups 12 0.4
    Buddhism 11 0.3
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 113 10.0
    $800-$999 116 10.2
    $1,250-$1,499 127 11.2
    $1,500-$1,999 169 14.9
    $2,000-$2,499 113 10.0
    Others 496 43.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1029 38.1
    Not in the labour force 907 33.6
    Employed, worked part-time 591 21.9
    Employed, away from work 102 3.8
    Unemployed, looking for work 73 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 222 12.9
    Professionals 304 17.7
    Technicians & trades workers 316 18.4
    Clerical & administrative workers 281 16.4
    Sales 186 10.8
    Others 409 23.8
    Occupation
    Census Count Percent(%)
    Pre-school 41 4.5
    Infants/Primary 420 45.7
    Secondary 260 28.3
    Technical or Further Educational Institution 89 9.7
    University or other Tertiary Institutions 94 10.2
    Others 16 1.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3290 95.7
    Flat, unit or apartment 115 3.3
    Improvised home, tent, sleepers out 16 0.5
    Caravan, cabin, houseboat 9 0.3
    Semi-detached, row or terrace house, townhouse 8 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 577 46.6
    Fully owned 496 40.1
    Rented 161 13.0
    Other tenure type 4 0.3
    Tenure Type
Census 2011, ABS
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