Romaine (postcode 7320) is a small locality in Tasmania within the Burnie local government area. With a population of 1,850, the suburb has an established demographic with a median age of 40. Households earn a median income of $75K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.2% 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 technicians & trades, professionals, clerical & administrative. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are Australian, English, Irish.
The median house price in Romaine is $433,000, having risen solidly by 9.5% over the past year. Units have a median price of $293,000 (-22.2% YoY). The median weekly rent is $280 (Census 2021). This gives a gross rental yield of approximately 3.4%. The median monthly mortgage repayment is $1,300.
Romaine is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 879, which is well below the national average of 1,000. Public transport access includes 15 bus stops.
From an investment perspective, The gross rental yield works out to roughly 3.4%, which reads as moderate yield. Property prices sit below the state median ($433K/$750K), which can point to relative value. The price-to-income ratio of 5.7x is considered affordable. House prices have moved +9.5% year-on-year. Population growth of +0.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.