Suburb Profile Report for Legana TAS (7277)

Legana House: Median price $495,000, Annual capital growth 4.53%, Number of sales 63, Weekly median advertised rent $440

Legana Unit: Median price $370,000, Annual capital growth 3.13%, Number of sales 25, Weekly median advertised rent $390

  • 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.

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Legana is in the bottom 20% in TAS when comparing median price capital growth over the last year. Legana gave property investors a dismal capital gain figure when compared to the rest of the state, with 7.61%.

Comparing Legana,7277 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Vendor discounting in Legana is giving property investors an average Vendor Discount of around -3.70%. This puts suburb at number 38th in TAS when ranking the most discounted suburbs.

Advertised rents are around the $440 mark per week – giving a return of 4.62% based on the median price in Suburb

At number 878th in the list of Australian suburbs ordered by increase in median house value over the last year, Legana, 7277 is in the BOTTOM 50% with a property value increase of 6.02% recorded in median house prices.

Legana,7277 has offered an average of 6.02% return per annum in house price rises to property investors over the last three years.

Residents and property investors in Legana have been waiting around 42.125 days to sell a property.

Information supplied by:


December 2018

M
O

W
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Growth slows in wine hub

Postcode: 7277

Median unit price: $303,000

Three-year growth: 8.8%

Rental yield: 5.3%

Just approximately 10 minutes from Launceston, the suburb of Legana is close to the Tamar Valley wineries.

Aside from being along the wine route, Legana is also a short distance from Riverside, putting families in proximity to Riverside Primary School and Riverside High School. The suburb is also home to a shopping centre, supermarkets, cafes, a pub and restaurants. Social activities are centred on sports – the community precinct is home to the Legana Cricket Club and a bicycle dirt jump park.

Following a strong run over the 2013-2018 period, however, Legana’s unit market may be easing up, with value increases going from double-digit to single-digit growth. Nonetheless, Launceston has gotten some shine lately with some spillover from Hobart – coupled with the affordability of Legana apartments and its strong rental returns, we could see things pick up again.

Metrics i HOUSE UNIT
$495,000 $370,000
7.03% 5.56%
7.61% 6.02%
4.53% 3.13%
$440 $390
63 25
4.62% 5.48%
42.421052631579 42.125

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 : Good (H), Good (U)
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Demographics
Total population 3678
Median household income ($/weekly) 1271
Median age of persons 40
Median housing loan repayment ($/monthly) 1528
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 589 16.0
    35-44 years 549 14.9
    45-54 years 508 13.8
    55-64 years 424 11.5
    65-74 years 335 9.1
    Others 1273 34.6
    Age Group
    Census Count Percent(%)
    Registered Married 1553 60.6
    Not Married 807 31.5
    Defacto Relationship 203 7.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3100 85.9
    New Zealand 53 1.5
    Papua New Guinea 38 1.1
    United Kingdom 239 6.6
    Other 57 1.6
    Others 123 3.4
    Country of Birth
    Census Count Percent(%)
    Christianity 2413 71.8
    No Religion 907 27.0
    Hinduism 20 0.6
    Other Religious Groups 12 0.4
    Buddhism 11 0.3
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 113 10.0
    $800-$999 116 10.2
    $1,250-$1,499 127 11.2
    $1,500-$1,999 169 14.9
    $2,000-$2,499 113 10.0
    Others 496 43.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1029 38.1
    Not in the labour force 907 33.6
    Employed, worked part-time 591 21.9
    Employed, away from work 102 3.8
    Unemployed, looking for work 73 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 222 12.9
    Professionals 304 17.7
    Technicians & trades workers 316 18.4
    Clerical & administrative workers 281 16.4
    Sales 186 10.8
    Others 409 23.8
    Occupation
    Census Count Percent(%)
    Pre-school 41 4.5
    Infants/Primary 420 45.7
    Secondary 260 28.3
    Technical or Further Educational Institution 89 9.7
    University or other Tertiary Institutions 94 10.2
    Others 16 1.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3290 95.7
    Flat, unit or apartment 115 3.3
    Improvised home, tent, sleepers out 16 0.5
    Caravan, cabin, houseboat 9 0.3
    Semi-detached, row or terrace house, townhouse 8 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 577 46.6
    Fully owned 496 40.1
    Rented 161 13.0
    Other tenure type 4 0.3
    Tenure Type
Census 2011, ABS
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