Launceston, North-East Tasmania
Launceston’s property market has become one of the most talked-about nationally in the last six months, after recording the highest growth in property values for regional areas in 2018.
Launceston’s affordability, supply and location have allowed it to overtake Hobart’s popularity for property investors, including those from the mainland. Numerous Launceston suburbs have recorded double-digit growth in the last 12 months, vacancies are low and yields are strong.
A key factor influencing Launceston’s economy is the Launceston City Deal, financially supported by all three levels of government. The deal has secured Launceston’s future as a “University Town”.
Under the plan, Launceston will be the recipient of serious spending on infrastructure for industries such as education, construction, the Defence Force, transport and forestry. Launceston General Hospital is being upgraded, new industrial estates are emerging and new residential estates are opening up.
Launceston is well connected through its airport and sea port as well as highways linking it to the rest of Tasmania.
This report covers the suburbs of East Launceston, Hadspen, Invermay, Kings Meadows, Launceston, Mowbray, Newnham, Newstead, Norwood, Prospect Vale, Riverside, Summerhill, Trevallyn, West Launceston and Youngtown.
Tasmania was Hotspot of the Week on 23 July 2019