Derwent Park (postcode 7009) is a small locality in Tasmania within the Glenorchy local government area. It is home to about 872 residents, with a mix of families and early-career residents and a median age of 35. Households earn a median income of $62K per year, with an average household size of 2.6 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.5% year-on-year at the LGA level. TAS employment has moved -0.3% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. TAS also had 19 Commonwealth-backed major projects under construction, 0 underway, and 16 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are community & personal service, labourers, technicians & trades. Employment in the area leans toward accommodation & food and healthcare. The top ancestries reported are Australian, English, Irish.
Median house prices in Derwent Park stand at $540,000, having dropped significantly by 10% over the last twelve months. Units have a median price of $438,000 (-1.6% YoY). The current median weekly rent is $585. This gives a gross rental yield of approximately 5.6%. The median monthly mortgage repayment is $1,083.
Derwent Park is served by 2 schools, including 2 primary. The average ICSEA score is 902, which is below the national average of 1,000. Public transport access includes 12 bus stops.
Looking at the investment signals, Derwent Park shows a gross rental yield of approximately 5.6%, rated as high yield. Property prices are near the state median ($540K/$750K). The price-to-income ratio of 8.7x is considered moderate. House prices have moved -10.0% year-on-year. Population growth of -0.5% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.