Property value increases in Legana have tracked close to the TAS average of 9.78% over the last 12 months.
Across a shorter period, Legana, 7277 has seen a median price increase of 3.23% over the last quarter.
Our latest figures would indicate that property sellers in Legana are currently offering property investors an average price cut of -4.58% below the asking price at the moment.
In the last year 75 properties changed hands in Legana, which puts it as the 32th most active market in TAS when comparing the number of sales per suburb.
Legana, 7277 ranked 17th in TAS when comparing growth in median property values or capital gain over the last 12 months. Legana is one of 606 in our list for TAS
Legana,7277 has offered an average of 12.90% return per annum in house price rises to property investors over the last three years.
Situated 170.98km from the CBD, Legana is one of West Tamar (M) localities in the postcode 7277.
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Growth slows in wine hub
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.