Question 1

Is Derwent Park a nice place to live?

Accepted Answer

Derwent Park is a practical, workaday suburb on the western shore of the River Derwent where industrial and commercial activity sits alongside small residential pockets of older weatherboard houses and low-rise units. Some properties have water views and a sense of openness, and major road links plus regular buses connect residents to the city and surrounding centres. The area suits people who want close access to light-industry and retail employment, simple local shops and nearby larger shopping and entertainment hubs.

It is a small community of 872 people with a median age of 35 and a typical household income of $1,190 a week (roughly $62,000 a year). Families make up a large part of the mix, with couple families with children the largest single group at 36.2% and couple families together accounting for about 70.2% of families. Homes are mostly owner-occupied in combination (57.8%) while 42.3% are rented. The suburb sits along the Brooker Highway corridor, where state and local road works and a Glenorchy Park regional sport and entertainment masterplan are shaping nearby infrastructure. Whether that suits you depends on what you’re looking for in a suburb.

Question 2

Is it expensive to live in Derwent Park?

Accepted Answer

House rents in Derwent Park run to about $580 a week. Against the median total household income at the last Census of $1,190 a week, that rent would take about 48.7% of a typical local household's weekly income, roughly half, which is a large share of income. If you're renting a house here, that rent share is the figure that matters; whether it feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Derwent Park a good place to invest?

Accepted Answer

House rents in Derwent Park rose 10.5% over the past 12 months, a strong increase. That figure is the direct measure of rental income, so it shows the rent a house would earn has moved notably over the year.

There isn't enough recent data to report how house or unit values changed, or how unit rents moved, so the picture is limited. Whether the strong rise in house rents makes Derwent Park the right investment for you will depend on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	N/A	N/A
Change in value Past 12 months	N/A	N/A
Sold Past 3 months	1	1
Median days on market Past 12 months	27	N/A
Average rent Past 12 months	$580	N/A
Change in rent Past 12 months	10.5%	N/A

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