Launceston sees positive price movement: HTW residential
Launceston is continuing to record positive price movement, albeit at a more subdued rate than 2018, according to a recent Herron Todd White (HTW) residential report.
"We would suggest it is unlikely double-digit growth will be recorded this year, however it may not be far under," the valuation firm said.
A townhouse situated in the heart of Launceston City recently sold for $700,000 (pictured above).
As an exceptional example of early Launceston architecture, the circa 1840s townhouse at 110 Cameron Street comes with two living rooms, four bedrooms upstairs and north facing paved courtyard.
It was last sold at $455,000 in 2005.
"Interestingly, the activities of a Queensland based buying advocate firm acquiring residential property on behalf of SMSFs have resulted in a number of rentals being available," the report said.
"The vacancy rate has lifted a few points as a result and we are seeing a stabilisation of rental growth."
A fully furnished and fully renovated two bedroom unit in Launceston is currently on the rental market with a price of $450 per week (pictured above).
The unit at 4/43-47 Elizabeth Street comes with large open plan living, two bedrooms, modern kitchen and secure parking space.
