Kings Meadows is an average performer in TAS when comparing median price capital growth over the last year. Kings Meadows gave property investors a average capital gain figure when compared to the rest of the state, with 5.67%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Kings Meadows has increased when compared to the 5 year average annual rate.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.70% offered to property buyers. Sellers in Kings Meadows itself are offering an average vendor discount of -3.94% to real estate investors.
At number 105 in a list of fastest selling suburbs, Kings Meadows is in the TOP 10% of suburbs in Australia with an average of days on market 40.3 for properties listed there.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 5.58%, without taking into account capital value appreciation, which has been averaging out at 3.63%.
Kings Meadows has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -22.22% to date .
While Kings Meadows,7249 ranked number 58th in TAS for increase in median house value (annualised) increase, it is ranked 43th over the last 5 years.
Using the current median advertised rental of $272.5 and the average annual increase in value of a median property of 6.02%, investors should hope to achieve an overall return of 5.06%
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Kings Meadows lies 4km south of the Launceston CBD, and combines affordability, amenities and proximity to the centre of Launceston. Access to the city centre is via the Midland Highway and the quieter Talbot Road, and regular buses service the suburb.
The median house price is lower than northern neighbour South Launceston, and Norwood. It’s well-served for amenities: Kings Meadows is home to the largest shopping centre in Launceston, the Meadow Mews shopping centre, which features a Coles as well as various speciality stores.
The Kings Meadows high school is situated within the suburb, and there is a primary school in nearby Norwood. It’s a family suburb, with an even mix of white-collar and blue-collar workers. The weekly family income is above the Tasmanian average, however, and there is a healthy rental market (around one-third of properties are rented).
Like the rest of Tasmania, capital growth has slowed in recent times. However, older properties may present renovation opportunities, while homes on larger blocks could be subdivided and developed.