Despite the influence of the Royal Commission, which is pumping the breaks even harder on real estate price growth in Melbourne and Sydney, the property market in Tasmania is still going strong.
If you’re thinking of ditching the peak-hour gridlock and mortgage stress for a more relaxed, affordable lifestyle down south, or you’re keen to unlock affordable investment opportunities outside your own backyard, here are some of the most affordable suburbs in Tasmania right now:
Nestled beside Rocherlea, Mayfield is five kilometres from the Launceston city centre, and has a median house price of $160,000. Like Rocherlea, it’s a great place for students to base themselves, with UTAS, the Australian Maritime College and a TAFE campus in neighbouring Newnham. It’s also very popular with first homebuyers, thanks to its affordability and proximity to the CBD.
This west coast town lies in a valley, beside Mount Owen, and has a median house price of $91,000. Queenstown is another small mining town, and it’s also one of the wettest locations in Tassie, so be sure to bring your best waterproof jacket and gumboots! If you can tolerate the cold, rainy climate, it’s a beautiful spot, with a picturesque mountain landscape for a view and lots of opportunities for fishing and exploring the nearby World Heritage areas.
With a median house price of $164,000, Ravenswood, in Launceston’s eastern suburbs, is just 3km from the CBD – we challenge you to find a cheaper, shorter commute to a capital city anywhere in Australia! With two shopping centres, a police station, skate park and library, it’s a fantastic suburb for a young family to put down some roots – such as in this Warring Street property (pictured above) listed at $149,000.
Rocherlea, in the northern suburbs of Launceston, has a median house price of $151,000. Six kilometres from the CBD, it’s a good spot for those looking for a seamless commute to work. It’s also right beside Newnham, where the Launceston campus of the University of Tasmania is located, so it’s popular with students, and the Tamar River isn’t far away, if you feel like getting back to nature. This three bedroom home (pictured above) on Sassafras Crescent is listed at just $149,000, and would also make a great investment property.
> Check out the most affordable areas to buy right across Australia too.
The median house price in Rosebery, on the west coast of Tassie, is a tiny $74,500, while units are going for a little more with a median of $80,000. This zinc, lead and gold mining town has a petite population of just over one thousand people, and sits 110km south of the nearest major town, Burnie. The Rosebery mine is the main source of employment in the town, with up to half the residents working there. It’s also the highest post code in Tasmania, at an elevation of 165m above sea level.
Located 36km from the popular holiday spot St Helens, St Mary’s is a tiny town that draws a decent tourist crowd thanks to its proximity to several of Tassie’s best attractions. It sits at the junction of the Tasman and Esk Highways, on the east coast of the state, about 10km inland. The median house price here is $165,000, which is a bargain for a town with such old-world charm. This Hugh Street property has three bedrooms and is listed for sale at just $159,000. Yes, we did count the zeros correctly – sorry Sydneysiders!
Also on the west coast, Zeehan is an affordable town, 139km from Burnie. Houses in Zeehan sell for a median of just $85,000, and the economy is based on mining and tourism. It’s one of the oldest regions in Tassie, with 10,000 people living and working there during the peak mining days, but today has a tiny population of under 1000 and a laid-back atmosphere.
Photo credit: Flickr