City of LauncestonEconomic profile
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City of Launceston

Rental listings

At June 2017, the City of Launceston had a median house rental of $300, $10 lower than the median house rental for Tasmania.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2013-2017, Automated Valuation System

Rental listings
City of Launceston20172013Change
Housing value (at June)City of LauncestonTasmaniaCity of Launceston relative to TasmaniaCity of LauncestonTasmaniaCity of Launceston relative to Tasmania2013 to 2017
House--------------
First Quartile$270$260+3.8%$240$230+4.3%+$30
Median$300$310-3.2%$270$275-1.8%+$30
Third Quartile$350$380-7.9%$320$330-3.0%+$30
Median Rental Yield6.0%5.6%--6.0%5.7%----
Unit--------------
First Quartile$195$210-7.1%$180$190-5.3%+$15
Median$245$265-7.5%$220$235-6.4%+$25
Third Quartile$320$330-3.0%$270$285-5.3%+$50
Median Rental Yield6.2%5.6%--5.9%5.8%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Tasmania: $330 Median, Tasmania: $265 First Quartile, Tasmania: $210 Third Quartile, Tasmania: $380 Median, Tasmania: $310 First Quartile, Tasmania: $260 Third Quartile, City of Launceston: $320 Median, City of Launceston: $245 First Quartile, City of Launceston: $195 Third Quartile, City of Launceston: $350 Median, City of Launceston: $300 First Quartile, City of Launceston: $270
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2017
Change in rental listings, 2013 to 2017 Third Quartile, Tasmania: $45 Median, Tasmania: $30 First Quartile, Tasmania: $20 Third Quartile, Tasmania: $50 Median, Tasmania: $35 First Quartile, Tasmania: $30 Third Quartile, City of Launceston: $50 Median, City of Launceston: $25 First Quartile, City of Launceston: $15 Third Quartile, City of Launceston: $30 Median, City of Launceston: $30 First Quartile, City of Launceston: $30
Source: Hometrack 2011-2016, Automated Valuation System

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