Located in Tasmania within the Launceston local government area, Summerhill is a compact suburb (postcode 7250). It is home to about 3,139 residents, with a settled mid-life population and a median age of 38. Households earn a median income of $69K per year, with an average household size of 2.4 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 community & personal service, technicians & trades, clerical & administrative. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Irish.
The median house price in Summerhill is $551,000, having fallen by 4.2% over the past year. Units have a median price of $428,000 (-18.6% YoY). The current median weekly rent is $567. This gives a gross rental yield of approximately 5.4%. The median monthly mortgage repayment is $1,300.
Summerhill is served by 1 school, including 1 primary. The average ICSEA score is 969, which is around the national average of 1,000. Public transport access includes 1 tram stop, 15 bus stops.
Looking at the investment signals, Summerhill shows a gross rental yield of approximately 5.4%, rated as high yield. Property prices are near the state median ($551K/$750K). The price-to-income ratio of 8.0x is considered moderate. House prices have moved -4.2% 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.