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Westbury, TAS 7303

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 Westbury, TAS 7303 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 “Westbury, TAS 7303”

  1. The total adult population (15 years or older) of Westbury 7303 TAS is 1,899, with a median age of 49. Of those, 49.97% are married, 14.53% are divorced or separated, 30.02% are single and 5.74% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $5,576. The median monthly mortgage repayment for households in this suburb is $1,249 which is 22.40% of their earnings.

    Source: ABS Census Data (2021)

  2. The district of Westbury, postcode 7303, is located in Tasmania and is home to approximately 1237 households. As of the third quarter of 2023, the standard price for houses in Westbury is $550,998 with a median weekly rent of $408. This provides an indicative yield of 3.85%, exceeding the minimum market requirement, showing favourable conditions for cash flow-centred property investments.

    In terms of socioeconomic score, the district boasts an IRSAD score of 916 out of a possible 1217, suggesting a fairly positive socio-economic status of the residents in the area. An examination of the renter to owner ratio uncovers a rating of 20%, which is under the desirable 30%, denoting an advantageous investment with lower competition among landlords. Further, the unit to house ratio comes in at a mere 9%, considerably under the favourable 50% threshold, depicting a market that favours houses over units, thereby likely attracting longer-term tenants such as families.

    The affordability index in Westbury reveals that it could take up to 39 years to fully own a house. This is above the ideal range, representing a decreased affordability in the area. However, the stock on market Percentage is at 0.46%, which falls into the neutral range, suggesting a stable property market supply. Alongside with a low inventory level for houses at just over 1.43 months, it indicates a healthier, fast-moving market.

    Adding to the attractiveness of Westbury’s property market is a building approvals Ratio of 0.64%, which falls within the favourable range, indicating a constrained new supply of dwellings. However, the average days on market for houses is 82 which suggests demand could be higher. This indication of neutral demand is echoed by the vacancy rate for combined houses and units being 1.62%, showing reasonable tenant demand.

    However, the buy search index for houses falls at 3, suggesting limited interest from buyers. Despite some measures falling outside the ideal range, it’s important to remember the overall picture. Westbury still presents potential opportunities for shrewd investors, especially those able to capitalise on the favourable yield, renter to owner ratio, and unit to house ratio. Investors are encouraged to maintain a watchful eye on Westbury’s market developments as the situation could change rapidly, cementing its potential as a profitable investment location. Remember that not only the metric values, but also the trend is important in making real estate investment decisions.

    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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