Suburb Profile Report for Launceston TAS (7250)

Launceston House: Median price $463,500, Annual capital growth 4.30%, Number of sales 54, Weekly median advertised rent $400

Launceston Unit: Median price $353,000, Annual capital growth 3.39%, Number of sales 42, Weekly median advertised rent $320

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Investment property in Launceston has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -17.23%

Launceston,7250 has offered an average of -17.23% return per annum in house price rises to property investors over the last three years.

Our latest figures would indicate that property sellers in Launceston are currently offering property investors an average price cut of -6.40% below the asking price at the moment.

With the median price for a house in Launceston being $463500 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 4.49%

TAS has seen average median house prices change by 5.99% which means that Launceston, 7250 has done well for property investors by showing a capital gain of -14.32% over the last year

Over the longer term, Launceston has seen property prices show investors a 2.32% return over the last 3 years. This is worse than over the last 12 months

Property buyers and investors in Launceston 7250 should be seeing an average reduction in asking price of around -6.74% . This means that Launceston is holding prices well when compared to other suburbs in TAS.

With the median price for a house in Launceston being $353000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.71%

Metrics i HOUSE UNIT
$463,500 $353,000
-0.32% -0.56%
-17.23% -14.32%
4.30% 3.39%
$400 $320
54 42
4.49% 4.71%
61.7666666666667 51.7916666666667

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 2897
Median household income ($/weekly) 1007
Median age of persons 36
Median housing loan repayment ($/monthly) 1603
Average household size 2
  • Census Count Percent(%)
    20-24 years 383 13.2
    25-34 years 472 16.3
    35-44 years 365 12.6
    45-54 years 432 14.9
    55-64 years 368 12.7
    Others 877 30.3
    Age Group
    Census Count Percent(%)
    Not Married 1138 52.9
    Registered Married 744 34.6
    Defacto Relationship 268 12.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 2225 80.8
    Indonesia 37 1.3
    Papua New Guinea 36 1.3
    United Kingdom 151 5.5
    Other 89 3.2
    Others 215 7.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 42 1.6
    Christianity 1463 56.6
    Hinduism 29 1.1
    Other Religious Groups 35 1.4
    No Religion 991 38.4
    Others 24 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 140 12.0
    $600-$799 124 10.7
    $800-$999 117 10.1
    $1,250-$1,499 106 9.1
    $1,500-$1,999 120 10.3
    Others 555 47.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 955 39.3
    Not in the labour force 750 30.9
    Employed, worked part-time 506 20.8
    Unemployed, looking for work 121 5.0
    Employed, away from work 97 4.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 197 12.7
    Professionals 500 32.1
    Technicians & trades workers 184 11.8
    Community & personal service workers 185 11.9
    Clerical & administrative workers 191 12.3
    Others 300 19.3
    Occupation
    Census Count Percent(%)
    Infants/Primary 140 21.1
    Secondary 119 17.9
    Technical or Further Educational Institution 94 14.1
    University or other Tertiary Institutions 278 41.8
    Other type of educational institution 19 2.9
    Others 15 2.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1416 56.0
    Semi-detached, row or terrace house, townhouse 573 22.6
    Flat, unit or apartment 444 17.5
    House or flat attached to a shop, office 91 3.6
    Caravan, cabin, houseboat 6 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 637 51.4
    Fully owned 335 27.0
    Being purchased 264 21.3
    Other tenure type 3 0.2
    Tenure Type
Census 2011, ABS
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