Buyer Demand Up 37.1% In Greater Launceston… And We’re Not Even Discussing The #stalkers (is that you?)
‘Hobart has been running red hot for some time now and now it looks like Launceston is on the move.
Prices have increased by 18.9% over the past 12 months and buyer demand is up an incredible 37.1%. Like Hobart, it is likely that growth is being driven by low levels of new housing supply as well as jobs growth in the area.
The suburbs doing best in terms of demand are Invermay, West Launceston and East Launceston, and the median price is $315,000.’ – realestate.com.au
As mentioned in my previous article last week, Launceston is hiding in the wings of the Hobart. As Hobart starts to out price local and mainland buyers, Launceston is the logical choice as a housing alternative or investment. As reported, with buyer demand up 37.1%, I predict this is only half of who is watching Launceston from afar with baited breath (#stalkers). If momentum gathers across the winter period and no major shifts in banking regulation or interest rates, Spring will be a frenzy in Northern Tasmania.
If I was a local looking at investing on my own, now is the time to seriously consider options for a long-term investment strategy. With a number of capital projects to be completed by the end of the year… Silo Hotel, Launceston mall re-development and the start of the University of Tasmania relocation works, plus multiple private developments, this will only enhance the appetite of Launceston being a sought after and choice city to re-locate by families and professionals.