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AREA REPORTS

Prospect

Prospect - SUBURB PROFILE REPORT
POSTAL CODE: TAS, 7250

house
unit

Based on its average 5-year and quarterly capital gains PROSPECT, 7250 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that PROSPECT, 7250 obtained a 7.23% growth over a ten-year period. It ranks 1316th on our list of suburbs that property investors should look into.

PROSPECT, 7250 in TAS belongs to the local government area of Launceston (C).

PROSPECT, 7250 has a capital gain of 39.95% for the past year, which is higher than average compared to its 89.82% growth within a five-year period.

With the median home price in PROSPECT sitting at $522,000, and the average rent at $450, property owners could potentially earn a 4.48% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in PROSPECT are low, as opposed to average gains per annum over the past five years.

A 39.95% increase in median property prices in PROSPECT, 7250 has allowed this suburb to join the ranks of best performing suburbs in TAS, settling at number 20th.

Data report can be found below

Prospect
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $522,000 $438,500
GROWTH REPORT
Median Quarterly 10.48% 3.79%
Median 12 month 39.95% N/A
Median 3 years 54.44% 29.35%
Median 5 years 89.82% 63.31%
10 years average annual 7.23% 2.45%
Weekly media advert. rent $450 $345
Time on Market 15.2 days 15.0 days
Gross Rental Yield Percent 4.48% 4.09%
demographics (median values)*
Total Population
48050
Weekly Household Income
1142
Household Size
2.30
Age
41
Monthly Loan Repayment
1300
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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