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Prospect Vale, TAS 7250

Home » TAS Real Estate Data » Meander Valley Council, TAS » Prospect Vale, TAS 7250

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 Prospect Vale, TAS 7250 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.

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Yield 

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Buy 

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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 “Prospect Vale, TAS 7250”

  1. The total adult population (15 years or older) of Prospect Vale 7250 TAS is 4,637, with a median age of 48. Of those, 49.34% are married, 13.50% are divorced or separated, 28.85% are single and 8.32% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $6,840. The median monthly mortgage repayment for households in this suburb is $1,430 which is 20.91% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in Tasmania, the suburb of Prospect Vale, postcode 7250, boasts an estimated 2,699 households. As we approach the final quarter of 2023, the average house prices in Prospect Vale swing around the $640,612 mark. The median weekly rent here is $487, allowing for an indicative yield of 3.95%.

    This suburb has achieved an IRSAD score of 948 out of 1,217, indicative of a community with fairly good access to economic resources and a predominantly skilled professional background. The residents here enjoy a balance, noted by the renter to owner ratio of 26%. This is a favourable figure, as suburbs with a renter to owner ratio under 30% are typically less susceptible to long-term investment risks such as sudden decreases in returns.

    Another promising attribute of Prospect Vale is the units to house ratio at 27%, demonstrating the potential for less competition among landlords for tenants, promoting steady rental yields. Suburbs boasting more houses than units have tended to attract families that often become long-term tenants.

    However, a note of caution is voiced through the affordability index for houses here, sitting at 37 years. This length of time indicates a slightly decreased affordability in the area, as desirable markets usually uphold values below 30 years.

    In terms of supply metrics, Prospect Vale shows favourable conditions. The stock on market percentage for houses here is a mere 0.05%, indicating a highly favourable low supply market. The inventory level for houses here is incredibly lean at only 0.18 months, and the building approvals ratio for houses is also low at 0.5%, both demonstrating a constricted supply, potentially leading to upward pressure on prices.

    Turning attention to demand metrics, houses in Prospect Vale spend an average of 29 days on the market, which indicates relatively high housing demand. The low vacancy rate of 0.86% further signifies this high demand. The Buy Search Index, however, is a slight dampener at only 3, showing limited demand, but when examining trends, it is crucial to consider collective factors.

    Indeed, the overall picture suggests that Prospect Vale presents pockets of potential for investors aware of the market’s deeper layers and trends. It harnesses a particularly strong supply-demand balance, as reflected by the low vacancy, inventory, and days on market figures. Lastly, don’t forget the benefit of the RCS metric developed by HtAG Analytics, which in situations like these, uses over 80 metrics, automating the research process for your convenience.

    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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