Launceston (postcode 7250) is a smaller suburb in Tasmania within the Launceston local government area. It is home to about 3,110 residents, with a settled mid-life population and a median age of 41. Households earn a median income of $75K per year, with an average household size of 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, managers. Employment in the area leans toward healthcare and accommodation & food. The top ancestries reported are English, Australian, Irish.
The median house price in Launceston is $775,000, having dropped significantly by 11.9% over the past year. Units have a median price of $503,000 (-6.1% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 3.8%. The median monthly mortgage repayment is $1,530.
Launceston is served by 5 schools, including 3 primary, 1 secondary, 1 combined. The average ICSEA score is 1054, which is above the national average of 1,000. Public transport access includes 37 bus stops. Healthcare facilities include 1 public and 2 private hospitals.
From an investment perspective, Launceston shows a gross rental yield of approximately 3.8%, rated as moderate yield. Property prices are near the state median ($775K/$750K). The price-to-income ratio of 10.4x is considered stretched. House prices have moved -11.9% 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.