Launceston
The largest city, chief port, and capital of Tasmania, Australia
Launceston has plenty to offer for those in the beautiful northern portion of the island.
Launceston’s commercial property market’s history reflects its transformation into a multifaceted regional hub with accessibility and economic diversity for commercial property. In particular, investors can find opportunities within industrial facilities and retail properties.
In Launceston, the median property price for a house is currently $800,000 with annual capital growth of 8.84%. There were 50 house sales in the past 12 months. On average, houses spend 32 days on market.
If you’re thinking about buying an investment property in Launceston, consider that rental yields for houses are currently 3.67% with an average median rent of $470 weekly. Houses have seen 3.23% growth in the past quarter, and 8.84% growth in the past 12 months.
The size of Launceston is approximately 4.5 square kilometres. It has 13 parks covering nearly 16.4% of total area. The population of Launceston in 2011 was 2,897 people. By 2016 the population was 2,929 showing a population growth of 1.1% in the area during that time. The predominant age group in Launceston is 20-29 years.
Households in Launceston are primarily childless couples and are likely to be repaying $1000 – $1399 per month on mortgage repayments. In general, people in Launceston work in a professional occupation. In 2011, 47% of the homes in Launceston were owner-occupied compared with 48.2% in 2016.