Let's Talk About An Opportunity In Tassie

Suburb Details:

With affordability tightening across the country, regional Tasmania continues to hold some hidden gems, and Devonport is one of them. Known as the gateway to the Apple Isle, Devonport offers a compelling mix of coastal lifestyle, infrastructure investment, and economic stability at price points that still sit well under the national average. This could be a good one for those counter cyclical investors out there!

Key Data Metrics ➕ 

_{*Note: Data derived from either DSR, Suburbs Finder or HTAG depending on reliability and availability of metrics. This is only a guide and best to cross-reference with other sources.}

Location & Infrastructure 🗺️ 

Situated on Tasmania's north-west coast, Devonport serves as a critical transport hub. The city is connected to mainland Australia via the Spirit of Tasmania ferry service, which facilitates both passenger and freight movement. Devonport Airport offers multiple daily flights to Melbourne, enhancing accessibility. The ongoing $240 million QuayLink project aims to upgrade port facilities, increasing freight capacity and supporting tourism growth. Additionally, the city's public transport network has been improved to provide better coverage and more direct travel options.

Economic Diversity & Jobs 💵 

Devonport's economy is anchored by its position as Tasmania's busiest freight port, handling over 50% of the state's imports and exports. The city's gross regional product was estimated at $3.5 billion in 2023. Employment is concentrated in sectors such as manufacturing, agriculture, and logistics, with approximately 13,369 jobs recorded in 2021. While its economy does lean on logistics, agriculture, and manufacturing, there's a decent spread across health care, retail, education, tourism, and growing support services. So while it's not as diverse as a capital city or a major regional hub like Geelong or Newcastle, it's not alarmingly narrow either.

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Example Property 🏚️ 

_{*Note: These calculations are purely estimations, but overall numbers will vary depending on your deposit, interest rates and other factors.}

Pro’s Of Investing In Devonport✅ 

• Low Vacancy Rate – Tight rental conditions indicate strong tenant demand and lower risk of prolonged vacancies.

• Decent Employment Diversification – While not a major metro, Devonport benefits from a mix of health care, education and logistics jobs across the region.

• Affordable Entry Point – Many homes are still under the $450K mark, making it attractive for entry-level investors.

• Falling Stock on Market (SOM) – A shrinking pool of available properties could drive competition and price growth.

Con’s Of Investing In Devonport❌ 

• Smaller Regional Town – While the local economy is reasonably diverse, smaller regional areas like Devonport can still be more sensitive to broader economic shifts and policy changes.

• Market Conditions Presenting as Cooler – Current data suggests reduced urgency among buyers, with the market not moving as quickly, though this could change with renewed demand.

My Opinion🤔

In summary, Devonport's strong logistical infrastructure and significant economic role in Tasmania offer a solid foundation for investment. While the economy is somewhat concentrated in specific sectors, the city's strategic location and development initiatives provide a compelling case for consideration in the under $500k property market but its really for the counter cyclical investors who have specific requirements.

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Total Value: $1,299→ Today’s Price $35

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_{Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended as financial, legal, or professional advice. Always do your own research and consult with a qualified professional before making any decisions. The opinions expressed here are solely those of the speaker and do not reflect the opinions or views of any other organisation. By using this information, you agree that the creator of this content is not responsible for any financial or other losses you might incur.}