Suburb Profile Report for West Launceston TAS (7250)

West Launceston House: Median price $350,000, Annual capital growth 3.22%, Number of sales 88, Weekly median advertised rent $330

West Launceston Unit: Median price $260,000, Annual capital growth 5.88%, Number of sales 28, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

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 16.67%

Comparing West Launceston,7250 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.59% offered to property buyers. Sellers in West Launceston itself are offering an average vendor discount of -4.06% to real estate investors.

At number 184 in a list of fastest selling suburbs, West Launceston is in the TOP 10% of suburbs in Australia with an average of days on market 34.95 for properties listed there.

Situated 157.89km from the CBD, West Launceston is one of Launceston localities in the postcode 7250.

West Launceston is in the TOP 20% in TAS when comparing median price capital growth over the last year. West Launceston gave property investors a very good capital gain figure when compared to the rest of the state, with 19.27%.

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.

Vendor discounting in West Launceston is giving property investors an average Vendor Discount of around -4.42%. This puts suburb at number 24th in TAS when ranking the most discounted suburbs.

West Launceston is 42th on a list of best yielding suburbs for rents in TAS with a 5.00% return

Metrics i HOUSE UNIT
$350,000 $260,000
4.48% 3.17%
16.67% 19.27%
3.22% 5.88%
$330 $250
88 28
4.90% 5.00%
34.95 59.52

Source: CoreLogic

DSR Score for property investment : Good (H), Good (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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