Suburb Profile Report for West Launceston TAS (7250)

West Launceston House: Median price $475,000, Annual capital growth 4.98%, Number of sales 77, Weekly median advertised rent $400

West Launceston Unit: Median price $315,000, Annual capital growth 2.70%, Number of sales 10, Weekly median advertised rent $305

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

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Investment property in West Launceston has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 19.05%

If we look at median property appreciation over just the last three months, West Launceston has given property investors a paper return of 2.15%. This puts Suburb as 120 on a list of fastest fasting appreciating suburbs in TAS

West Launceston7250 is located in TAS which offers an average discount of -4.46% to property investors. West Launceston itself is showing figures that indicate -4.34% is the average achievable by property buyers investing in the suburb.

Property investors should expect to get $400 weekly from the median priced house in this suburb.

If you compare the increase in value of investment property in West Launceston, 7250 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 11.50%.

A 36.96% growth in median value for property investors in West Launceston,7250 puts this suburb at number 3rd in terms of best performing suburbs in TAS

Advertised rents are around the $305 mark per week – giving a return of 5.03% based on the median price in Suburb

Metrics i HOUSE UNIT
$475,000 $315,000
2.15% 14.55%
19.05% 11.50%
4.98% 2.70%
$400 $305
77 10
4.38% 5.03%
25.0169491525424 N/A

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Very 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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