Suburb Profile Report for Invermay TAS (7248)

Invermay House: Median price $397,500, Annual capital growth 5.75%, Number of sales 89, Weekly median advertised rent $375

Invermay Unit: Median price $335,000, Annual capital growth 5.11%, Number of sales 11, Weekly median advertised rent $500

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

Source: Monthly data update for Jan 2022 as supplied by CoreLogic. Data is reported to the period ending Oct 2021. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Invermay, 7248 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 10.71%.

Over the longer term, Invermay has seen property prices show investors a 25.34% return over the last 3 years. This is worse than over the last 12 months

Property investors looking for a bargain in Invermay should be aiming for at least 0.00% off the asking price, which is the average vendor discount being achieved at the moment.

The TAS suburb of Invermay, 7248 is in the Launceston (C) local government area.

Invermay is an average performer in TAS when comparing median price capital growth over the last year. Invermay gave property investors a good capital gain figure when compared to the rest of the state, with 21.41%.

Comparing Invermay,7248 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

LACK OF BUYER INTEREST may well be the reason that Invermay is offering property investors an average of -2.31. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in TAS

In the last year 11 properties changed hands in Invermay, which puts it as the 55th most active market in TAS when comparing the number of sales per suburb.

Using the current median advertised rental of $500 and the average annual increase in value of a median property of 5.11%, investors should hope to achieve an overall return of 7.76%

Metrics i HOUSE UNIT
$397,500 $335,000
8.01% 8.02%
10.71% 21.41%
5.75% 5.11%
$375 $500
89 11
4.19% 3.82%
21.4545454545455 27.1379310344828

Source: Monthly data update for Jan 2022 as supplied by CoreLogic. Data is reported to the period ending Oct 2021. 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 3086
Median household income ($/weekly) 713
Median age of persons 34
Median housing loan repayment ($/monthly) 1300
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 353 11.4
    25-34 years 467 15.1
    35-44 years 412 13.3
    45-54 years 432 14.0
    55-64 years 346 11.2
    Others 1077 34.9
    Age Group
    Census Count Percent(%)
    Not Married 1388 58.7
    Registered Married 687 29.1
    Defacto Relationship 288 12.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 2428 84.8
    Malta 31 1.1
    Papua New Guinea 32 1.1
    United Kingdom 87 3.0
    Other 177 6.2
    Others 108 3.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 46 1.7
    Christianity 1612 59.1
    Hinduism 51 1.9
    Other Religious Groups 36 1.3
    No Religion 957 35.1
    Others 25 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 173 14.1
    $400-$599 169 13.8
    $600-$799 158 12.9
    $800-$999 128 10.4
    $1,000-$1,249 121 9.8
    Others 480 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 957 39.5
    Employed, worked full-time 722 29.8
    Employed, worked part-time 488 20.2
    Unemployed, looking for work 161 6.7
    Employed, away from work 93 3.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 220 16.9
    Technicians & trades workers 205 15.7
    Community & personal service workers 193 14.8
    Clerical & administrative workers 159 12.2
    Sales 160 12.3
    Others 366 28.1
    Occupation
    Census Count Percent(%)
    Pre-school 30 3.6
    Infants/Primary 204 24.6
    Secondary 139 16.8
    Technical or Further Educational Institution 152 18.3
    University or other Tertiary Institutions 286 34.5
    Others 18 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2406 83.2
    Semi-detached, row or terrace house, townhouse 298 10.3
    Flat, unit or apartment 171 5.9
    House or flat attached to a shop, office 15 0.5
    Improvised home, tent, sleepers out 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 657 49.6
    Being purchased 370 27.9
    Fully owned 291 22.0
    Other tenure type 6 0.5
    Tenure Type
Census 2011, ABS
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