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Real Estate Launceston | Market Trends

By Rae & Partners — July 11, 2019

Whether you’re a seasoned local purchasing your next home, or looking to move from interstate, when searching for real estate in Launceston, it’s essential to ensure you’re making an informed decision to avoid legal mishaps. To help prepare you for your next move, we have compiled some key facts about Launceston’s real estate market and a brief snapshot of the main suburbs contributing to its growth.

Launceston Real Estate Trends

Over the past six months, the ups and downs of Australia’s real estate market have created uncertainty for buyers across the country. However, when it comes to the real estate market in Launceston, it’s a slightly different story. Launceston’s real estate market has grown steadily and doesn’t appear to be slowing down.

With more people discovering the charm and potential of real estate in Launceston, there has been significant growth in demand throughout the Greater Launceston Area. According to the Real Estate Institute of Tasmania, one of the reasons for demand is the increasing affordability of real estate in Launceston compared to the south of Tasmania.

Real Estate Launceston Suburb Profiles

Suburbs within the metropolitan area, such East Launceston, Trevallyn and South Launceston have become increasingly desirable for those seeking to purchase real estate.

East Launceston

  • One of the most highly sought after suburbs in Launceston, occupied predominantly by established couples and families, older couples and young families
  • Median house price $524,000
  • Median rental price $375 per week
  • Easy access to Launceston Church Grammar School and Scotch Oakburn collage and East Launceston Primary School
  • Short walk to the city
  • Occupied by older couples with family, established families and young couples with a growing family
  • Situated on the western side of the Tamar River, with picturesque outlook over Launceston
  • Median house price of $361,750
  • Median rental price of $340 per week
  • Close to Cataract Gorge Reserve

Trevallyn

  • Occupied by older couples with family, established families and young couples with a growing family
  • Situated on the western side of the Tamar River, with picturesque outlook over Launceston
  • Median house price of $361,750
  • Median rental price of $340 per week
  • Close to Cataract Gorge Reserve

South Launceston

  • Favoured by independent youth, maturing adults establishing independence, and elderly singles
  • Median house price of $335,000
  • Median rental price of $340 per week
  • Known for reliable public primary and secondary schools

Real Estate Launceston Predictions

With Launceston real estate prices having increased by 2.95% over the last year, property analysts predict that the Launceston real estate market will continue to boom over the coming year. Many who are looking to invest in property are purchasing real estate in Launceston now anticipating positive returns.

Change can be daunting. When buying and selling real estate in Launceston, it’s important to be in possession of the facts and surround yourself with experienced advisors. At Rae & Partners, our conveyancers and property lawyers are ready for change and can help take the uncertainty out of your real estate transaction.

Contact us to discuss property law and conveyancing.