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Franklin, TAS 7113

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Franklin, TAS 7113 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Franklin, TAS 7113”

  1. The total adult population (15 years or older) of Franklin 7113 TAS is 1,129, with a median age of 52. Of those, 46.06% are married, 14.08% are divorced or separated, 29.85% are single and 10.01% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $5,812. The median monthly mortgage repayment for households in this suburb is $1,300 which is 22.37% of their earnings.

    Source: ABS Census Data (2021)

  2. Tucked away in the heart of Tasmania, the suburb of Franklin 7113 is a picturesque residential haven that’s home to a modest number of estimated 593 households. Emerging as an attractive residential destination on the property map, Franklin displays a robust real estate market landscape that keeps both property investors and owner-occupiers intrigued.

    The typical price for houses in Franklin stands at a substantial $785,118 as of Q3 2023, with a median weekly rent of $450 trailing behind. The indicative yield for Franklin, calculated fairly at 2.98%, narrowly misses the minimum attractive market requirement of 3% for property investors seeking cash-flow-centric investments.

    Franklin scores 947 out of a potential 1217 on the IRSAD (socio-economic score), indicating a favourable socio-economic environment and heightened living standards. The area exhibits a low renter to owner ratio of just 17%, presenting an ideal unicellular environment for investors without the worry of long-term return implications associated with oversaturation of rental properties.

    The units to houses ratio in Franklin is one of the area’s standout features, with a remarkably low 1% underscoring the dominance of residential houses over apartment complexes. This low value is encouraging for landlords eyeing less competition and is likely to support a robust rental yield over time.

    However, affordability remains a key consideration for prospective homebuyers, with the index measuring a hefty 54 years to fully own a property in Franklin. This value, exceeding the critical threshold of 31 years, flags the area as potentially less affordable.

    Moving onto supply metrics, Franklin exhibits a low stock on market percentage for houses at 0.36%, indicating a favourable supply dynamic. Similarly, an inventory level of 1.5 months signifies a generally low supply, while the healthy building approvals ratio of 0.36% presents a balanced new dwelling scenario.

    Despite the favourable supply figures, a slightly longer span of 172 days on market points towards lower demand, while the vacancy rate of 4.08% is a notch higher than the optimal range, hinting towards a slight tilt towards a renter’s market. The buy search index scored a rather neutral 3, indicating an average demand for purchasing property.

    Moreover, the Relative Composite Score (RCS), developed by HtAG Analytics, packs the analysis of over 80 distinct metrics into a comprehensive, easy-to-understand rating, which could be a beneficial tool in this property market landscape.

    In conclusion, while Franklin 7113 boasts several favourable aspects, including socio-economic standards and supply dynamics, potential challenges like property affordability and demand might need careful consideration for future property market manoeuvres.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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