Located in Tasmania within the George Town local government area, George Town is a compact suburb (postcode 7253). It is home to about 4,536 residents, with a settled, mature resident base and a median age of 45. Households earn a median income of $47K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.7% 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 labourers, technicians & trades, machinery operators & drivers. Employment in the area leans toward manufacturing and healthcare. The top ancestries reported are English, Australian, Scottish.
The median house price in George Town is $430,000, having jumped by 11.7% over the past year. Units have a median price of $465,000 (+16.3% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 5.7%. The median monthly mortgage repayment is $913.
George Town is served by 3 schools, including 1 primary, 2 combined. The average ICSEA score is 905, which is below the national average of 1,000. Public transport access includes 5 bus stops.
From an investment perspective, George Town shows a gross rental yield of approximately 5.7%, rated as high yield. Property prices sit below the state median ($430K/$750K), which can point to relative value. The price-to-income ratio of 9.2x is considered moderate. House prices have moved +11.7% year-on-year. Population growth of +0.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.