Invermay (postcode 7248) is a smaller suburb in Tasmania within the Launceston local government area. The area has roughly 3,498 residents and a blend of families and working-age professionals, with a median age of 33. Households earn a median income of $59K 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 -0.3% 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 professionals, community & personal service, technicians & trades. Employment in the area leans toward healthcare and accommodation & food. The top ancestries reported are English, Australian, Irish.
Invermay has a median house price of $480,000, which has declined by 5.5% year-on-year. Units have a median price of $450,000 (+8.4% YoY). The current median weekly rent is $520. This gives a gross rental yield of approximately 5.6%. The median monthly mortgage repayment is $1,092.
Invermay is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 970, which is around the national average of 1,000. Public transport access includes 10 bus stops.
On the investment side, The gross rental yield works out to roughly 5.6%, which reads as high yield. Property prices sit below the state median ($480K/$750K), which can point to relative value. The price-to-income ratio of 8.2x is considered moderate. House prices have moved -5.5% year-on-year. Population growth of -0.3% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.