Strong yield and affordable homes
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.