Suburb Profile Report for Queenstown TAS (7467)

Queenstown House: Median price $72,750, Annual capital growth -0.34%, Number of sales 91, Weekly median advertised rent $150

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

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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Queenstown is in the bottom 20% in TAS when comparing median price capital growth over the last year. Queenstown gave property investors a dismal capital gain figure when compared to the rest of the state, with -3.00%.

Taking the average capital gain, or increase in median house value, Queenstown,7467 has racked up an average of -3.00% over the period. This ranks it number 3202th in the whole country for real estate investors looking at median house price increases.

LACK OF BUYER INTEREST may well be the reason that Queenstown is offering property investors an average of -5.65. This rate of discount on properties puts Suburb at number 1st in terms of most discounted suburbs in TAS

On average over the past year, suburb has had 7.58 sales per month, which equates to 91 per year.

Advertised rents are around the $150 mark per week – giving a return of 10.72% based on the median price in Suburb

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Queenstown is located 165km northwest of Hobart on Tasmania’s west coast, on the western slopes of Mount Oliver. It’s a relatively small community, with a population estimated at 5,119 in 2009. It’s got a rich mining history, having been the centre of the Mount Lyell mining district in the early twentieth century.

Its present industry still features mining, but is not reliant upon it – a number of mines still operate in the area, with exploration for further economic mineral deposits currently taking place. The town is also a popular tourism spot and is the terminus of the West Coast Wilderness Railway; additionally, it is home to a growing arts community, and hosted an arts and heritage festival in 2010.

Amenity-wise, the town is self-sufficient, with shops, cafes and restaurants centred around Orr Street and Sticht Street. The town also offers access to the Cradle Lake Mount St Clair National Park, the Franklin-Gordon Wild Rivers National Park, and Macquarie Harbour. Access is from the rest of the island is by car or daily bus to Hobart.

Investors may be interested in the scope for cash flow positive properties at very affordable prices. The median house price here is among the lowest in the country, while rental yields are approaching double digits.

Metrics i HOUSE UNIT
$72,750 N/A
-1.69% N/A
-3.00% N/A
-0.34% N/A
$150 N/A
91 N/A
10.72% N/A
87.62 N/A

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 1973
Median household income ($/weekly) 821
Median age of persons 39
Median housing loan repayment ($/monthly) 754
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 258 13.1
    25-34 years 210 10.6
    35-44 years 301 15.2
    45-54 years 268 13.6
    55-64 years 251 12.7
    Others 687 34.8
    Age Group
    Census Count Percent(%)
    Registered Married 595 42.9
    Not Married 589 42.5
    Defacto Relationship 203 14.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 1718 93.0
    Indonesia 19 1.0
    Papua New Guinea 18 1.0
    United Kingdom 36 1.9
    Other 18 1.0
    Others 39 2.1
    Country of Birth
    Census Count Percent(%)
    Christianity 1280 72.2
    No Religion 446 25.2
    Hinduism 24 1.4
    Buddhism 14 0.8
    Other Religious Groups 8 0.5
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 118 15.4
    $400-$599 106 13.8
    $600-$799 84 10.9
    $1,250-$1,499 63 8.2
    $1,500-$1,999 92 12.0
    Others 305 39.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 593 40.2
    Employed, worked full-time 529 35.9
    Employed, worked part-time 227 15.4
    Unemployed, looking for work 85 5.8
    Employed, away from work 41 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 79 9.9
    Professionals 81 10.2
    Technicians & trades workers 159 19.9
    Machinery operators & drivers 151 18.9
    Labourers 111 13.9
    Others 217 27.2
    Occupation
    Census Count Percent(%)
    Pre-school 21 6.2
    Infants/Primary 160 47.2
    Secondary 101 29.8
    Technical or Further Educational Institution 41 12.1
    University or other Tertiary Institutions 10 2.9
    Others 6 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1744 96.2
    Flat, unit or apartment 47 2.6
    House or flat attached to a shop, office 21 1.2
    Semi-detached, row or terrace house, townhouse 0 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 403 49.4
    Rented 212 26.0
    Being purchased 192 23.5
    Other tenure type 9 1.1
    Tenure Type
Census 2011, ABS
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