Suburb Profile Report for Rocherlea TAS (7248)

Rocherlea House: Median price $159,500, Annual capital growth 2.93%, Number of sales 17, Weekly median advertised rent $255

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

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

  • House Report
  • Expert Report

Rocherlea, 7248 ranked 140th in TAS when comparing growth in median property values or capital gain over the last 12 months. Rocherlea is one of 606 in our list for TAS

While Rocherlea,7248 ranked number 166th in TAS for increase in median house value (annualised) increase, it is ranked 102th over the last 5 years.

Sellers are offering property buyers an average discount of -5.37% to buyers in Rocherlea at the moment, which is less than average for the rest of TAS.

Residents and property investors in Rocherlea have been waiting around 38.5 days to sell a property.

Advertised rents are around the $250 mark per week – giving a return of 8.47% based on the median price in Suburb

Information supplied by:


February 2019

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A 10-minute drive up from Launceston brings you to the suburb of Rocherlea. It is bordered by the suburbs of Mayfield and Newnham, and is only a few minutes from the University of Tasmania’s Inveresk campus by carFull summary

Strong yield and affordable homes

Postcode: 7248

Median house price: $155,000

Three-year growth: 5.1%

Rental yield: 7.5%

A 10-minute drive up from Launceston brings you to the suburb of Rocherlea. It is bordered by the suburbs of Mayfield and Newnham, and is only a few minutes from the University of Tasmania’s Inveresk campus by car.

Other nearby educational institutions include the Australian Maritime College and the TasTAFE campus in Newnham – thus, Rocherlea can be a great option for students and working professionals.

Rocherlea has been experiencing consistent growth in recent years, with growth reaching nearly 30% in the five-year period from November 2013-2018. Nonetheless, the median price for houses remains very low at just a little over $150,000. The market also offers remarkable rental returns of 7.5% on average – providing both growth potential and cash flow. The average rent is affordable at $225 per week – favourable for tenants on a budget.

Close
Metrics i HOUSE UNIT
$159,500 N/A
3.89% N/A
7.77% N/A
2.93% N/A
$255 N/A
17 N/A
8.31% N/A
36.357143 N/A

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

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 1088
Median household income ($/weekly) 552
Median age of persons 28
Median housing loan repayment ($/monthly) 867
Average household size 2.5
  • Census Count Percent(%)
    0-4 years 137 12.6
    5-14 years 179 16.4
    25-34 years 134 12.3
    35-44 years 123 11.3
    45-54 years 166 15.2
    Others 350 32.1
    Age Group
    Census Count Percent(%)
    Not Married 424 61.0
    Registered Married 191 27.5
    Defacto Relationship 80 11.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 945 96.2
    Greece 3 0.3
    Papua New Guinea 6 0.6
    United Kingdom 13 1.3
    Other 6 0.6
    Others 9 0.9
    Country of Birth
    Census Count Percent(%)
    Christianity 584 64.1
    No Religion 323 35.5
    Other Religious Groups 4 0.4
    Buddhism 0 0.0
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $200-$299 31 9.0
    $300-$399 74 21.6
    $400-$599 66 19.2
    $600-$799 56 16.3
    $1,000-$1,249 32 9.3
    Others 84 24.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 371 53.1
    Employed, worked full-time 122 17.5
    Employed, worked part-time 101 14.4
    Unemployed, looking for work 92 13.2
    Employed, away from work 13 1.9
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 30 12.7
    Community & personal service workers 38 16.0
    Sales 27 11.4
    Machinery operators & drivers 39 16.5
    Labourers 60 25.3
    Others 43 18.1
    Occupation
    Census Count Percent(%)
    Infants/Primary 97 42.9
    Secondary 78 34.5
    Technical or Further Educational Institution 28 12.4
    University or other Tertiary Institutions 13 5.8
    Pre-school 10 4.4
    Others 0 0.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 914 90.0
    Semi-detached, row or terrace house, townhouse 52 5.1
    Flat, unit or apartment 50 4.9
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 268 70.5
    Being purchased 68 17.9
    Fully owned 44 11.6
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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