Suburb Profile Report for West Launceston TAS (7250)

West Launceston House: Median price $317,000, Annual capital growth 2.15%, Number of sales 102, Weekly median advertised rent $328

West Launceston Unit: Median price $256,000, Annual capital growth 4.95%, Number of sales 24, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in West Launceston, 7250 have given investors a capital gain of 5.67%. This compares badly with the 9.40% for TAS as a whole.

Taking the average capital gain, or increase in median house value, West Launceston,7250 has racked up an average of 5.67% over the period. This ranks it number 2658th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in West Launceston 7250 should be seeing an average reduction in asking price of around -4.29% . This means that West Launceston is holding prices well when compared to other suburbs in TAS.

On average over the past year, suburb has had 8.50 sales per month, which equates to 102 per year.

Advertised rents are around the $327.5 mark per week – giving a return of 5.37% based on the median price in Suburb

Property investors who have had real estate in West Launceston, 7250 should be pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 20.47%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Launceston has increased when compared to the 5 year average annual rate.

West Launceston7250 is located in TAS which offers an average discount of -4.81% to property investors. West Launceston itself is showing figures that indicate -4.34% is the average achievable by property buyers investing in the suburb.

West Launceston is 39th on a list of best yielding suburbs for rents in TAS with a 5.08% return

Metrics i HOUSE UNIT
$317,000 $256,000
3.93% 0.99%
5.67% 20.47%
2.15% 4.95%
$328 $250
102 24
5.37% 5.08%
45.87 70.35

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 4029
Median household income ($/weekly) 1123
Median age of persons 39
Median housing loan repayment ($/monthly) 1328
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 501 12.4
    25-34 years 529 13.1
    35-44 years 611 15.2
    45-54 years 602 14.9
    55-64 years 505 12.5
    Others 1282 31.8
    Age Group
    Census Count Percent(%)
    Registered Married 1380 46.2
    Not Married 1294 43.3
    Defacto Relationship 314 10.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3418 87.9
    Greece 26 0.7
    Papua New Guinea 40 1.0
    United Kingdom 170 4.4
    Other 71 1.8
    Others 164 4.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 34 0.9
    Christianity 2358 63.4
    Islam 17 0.5
    Other Religious Groups 17 0.5
    No Religion 1280 34.4
    Others 12 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 190 12.8
    $600-$799 155 10.4
    $1,000-$1,249 137 9.2
    $1,500-$1,999 204 13.7
    $2,000-$2,499 138 9.3
    Others 665 44.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1234 38.7
    Not in the labour force 969 30.4
    Employed, worked part-time 782 24.5
    Employed, away from work 102 3.2
    Unemployed, looking for work 101 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 242 11.4
    Professionals 576 27.1
    Technicians & trades workers 278 13.1
    Community & personal service workers 259 12.2
    Clerical & administrative workers 277 13.0
    Others 491 23.1
    Occupation
    Census Count Percent(%)
    Pre-school 33 3.3
    Infants/Primary 364 36.6
    Secondary 241 24.2
    Technical or Further Educational Institution 118 11.9
    University or other Tertiary Institutions 217 21.8
    Others 21 2.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3371 89.3
    Flat, unit or apartment 317 8.4
    Semi-detached, row or terrace house, townhouse 73 1.9
    Improvised home, tent, sleepers out 11 0.3
    House or flat attached to a shop, office 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 627 39.0
    Fully owned 544 33.8
    Rented 430 26.7
    Other tenure type 7 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals