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This Suburb Is For Higher Risk Investors
Mowbray is another cooler market beginning to heat up with the short term data metrics to starting to heat up. If you can’t get into QLD or WA maybe its time to consider a suburb like this :)
Finding Investment Suburbs For Under 450K
Suburb Details:
Suburb | State | Postcode |
|---|---|---|
Mowbray | Tasmania | 7248 |
This is the first time I am covering a suburb in Tasmania and this article is for investors who have a higher risk appetite. Mowbray is showing early signs of a heating up market and with stronger rental yields this suburb maybe more attractive than suburbs in regional Queensland and Perth. Over the past 3 years it has grown only 12% according to SQM research and with a 10 year average growth 7% there is definitely room for the suburb to grow. This article is meant to bring awareness of a potential suburb where my readers can invest in however this depends on your risk appetite.
Key Data Metrics
Metric | Actual | Trending |
|---|---|---|
Days On Market | 79 | Trending Down |
Stock On Market | 1.44% | Trending Down |
Vacancy Rate | 0.51% | Flat |
Current Population | 4,048 | - |
Online Interest | 34 | Trending Down |
Vendor Discounting | 2.26% | Flat |
Proportion Of Renters | 51.1% | High |
Location & Infrastructure
Mowbray is a suburb of Launceston in Tasmania, located about 4 kilometres north of the Launceston city centre. The suburb is known for its mix of residential areas, commercial centres, and educational institutions. Key infrastructure in Mowbray includes the Mowbray Marketplace, which offers a variety of retail stores, supermarkets, and dining options. The suburb is home to the University of Tasmania's Newnham campus, making it a hub for students and academic activities. Public transport is accessible, with regular bus services connecting Mowbray to central Launceston and other nearby suburbs. Healthcare services are provided by local medical clinics, and the Launceston General Hospital is a short drive away. Mowbray also features parks, sports facilities, and recreational areas, contributing to its community.
Other Important Factors:
There is almost no new building supply coming to the area despite the developable land supply. This will increase house price pressure as stock continues to depletes.
Days on market and stock on market has been dropping for the last 4 months and as this trends continues it will put house price pressure on the market causing prices to grow.
Despite renter population being high, vacancy rates are incredibly low at around 0.5% meaning that finding a tenant will be easy and you will be able to achieve strong yields 5%+.
Mowbray falls in the centre of main industries including the education, retail and construction industry providing homes mainly workers that come in and out of the state.
Nearby Major Projects:
There are no major projects in Mowbray.
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Example Property:
Metric | |
|---|---|
6 Pershing Street, Mowbray, Tas 7248 | |
Purchase Price | $469,000 |
Stamp Duty | <$20,000 |
10% Deposit | $47,000 |
Expected Rental Price | ~500/Week |
Expected Rental Yield | ~5.43% |
*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 Mowbray
Strong rental yields → Better than NSW & VIC.
Falling Days on market and stock on market, if trends continue it will increase pressure within the market.
Virtually zero building approvals despite available developable land supply.
Con’s Of Investing In Mowbray
High renter population, if vacancy rate rises it can leave your property vacant for longer.
Flood prone area, higher insurance premiums.
No major industrial projects driving the area.
Ultimate Verdict
For those who have a higher risk appetite for residential investment you should consider Mowbray. Its important to monitor trends for the next 1-3 months to confirm that house price pressure is being formed. It is still too early by 1-2 months. Contact local property managers to confirm the tight rental market and call sales agents to ensure that the market is heating up. You will be able to find great deals in Mowbray but make sure you do your due diligence if you decide to buy here!
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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 organization. By using this information, you agree that the creator of this content is not responsible for any financial or other losses you might incur.
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