Launceston has already been pinpointed as a property hotspot for interstate buyers, but there are key suburbs that those purchasers are targeting.
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Domain figures show Launceston suburbs came up in eight out of the site’s top 20 searches by Victorian buyers.
While White Beach in the state’s South ranked top of the search list for Victorians keen to move across Bass Strait, Launceston and South Launceston featured in the top 10 – coming in at number six and nine, respectively.
East Launceston was the 12th most searched Tasmanian suburb, followed by Riverside at 13, Legana at 14 and Newstead at 16.
Newnham came in at 18th and Kings Meadows at 19th, showing prospective buyers were searching throughout the city’s regions.
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Popular North-West suburbs are Devonport, Port Sorell, Wynyard and Ulverstone.
Moving down South again, Victorian buyers searched Domain for Sandy Bay, Judbury, Kingston, Premaydena, Battery Point, Pontville and Lindisfarne.
Domain economist Trent Wiltshire said an above-average price ratio between Hobart and Launceston, coupled with increasing buyer interest and a stronger economy indicated that “Launceston may see further price growth over the next one to two years”.
Hobart’s house prices have boomed, with an increase of more than 40 per cent since early 2015, and Launceston prices, by comparison, are relatively cheaper, Mr Wiltshire said.
“… the relative affordability of Launceston [is] likely to encourage some investors and migrants to buy in Launceston instead of Hobart,” he said.
With unemployment falling, the City Deal and events like Mona Foma and Festivale attracting crowds to the state’s second biggest city, buyer interest is increasing.
“Views per listing in Launceston increased by about 40 per cent over 2018.”
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