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George Town suburb profile

George Town is a historic town located in northern Tasmania, approximately 50km from Launceston. As one of Australia's oldest European settlements, it boasts a rich maritime heritage and charming colonial architecture. Situated on the banks of the Tamar River, George Town offers picturesque waterfront views and a relaxed lifestyle. The town is known for its friendly community, local markets, and proximity to natural attractions like the Low Head Lighthouse and beaches. With a mix of heritage homes and modern amenities, George Town provides a peaceful yet connected environment for residents and visitors alike.

George Town property market performance

Property growth+13.8%Past 12 months

George Town's property market has experienced significant growth over the past 12 months, particularly in the housing sector. House values have surged by 30.4%, with the current median house price reaching $472,500. In contrast, the unit market has remained stagnant, with no change in median unit value and a median unit price of $0, indicating limited activity in this segment.

Sales activity has been robust for houses, with 50 sold in the past 12 months, while only 5 units were sold, reflecting the disparity in demand. Houses are selling quickly, with a median of 30 days on the market, whereas units are taking significantly longer at 138 days, suggesting a slower pace in the unit market.

The rental market in George Town has also seen notable changes, with house rents increasing by 15.4% over the last 12 months, reaching an average of $450. Unit rents have risen by 4.5%, with an average rent of $303, indicating a stronger demand for house rentals in the area.

HousesUnits
Median price
Past 3 months
$499KN/A
Change in value
Past 12 months
35.0%-7.4%
Sold
Past 3 months
446
Median days on market
Past 12 months
2864
Average rent
Past 12 months
$450$325
Change in rent
Past 12 months
14.5%12.1%

5 year median price trend for houses and units

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George Town demographics

George Town, located in Tasmania, is a charming coastal suburb known for its rich history and scenic beauty. With a population of 4,536, it offers a peaceful lifestyle away from the hustle and bustle of larger cities. The median age of 45 suggests a mature community, with many residents enjoying the tranquility and slower pace of life that George Town provides. This suburb is ideal for those seeking a close-knit community atmosphere, where neighbors know each other and local events bring people together.

The housing landscape in George Town is characterized by a significant proportion of properties owned outright, accounting for 39.3% of the total. This indicates a stable community with long-term residents who have established roots in the area. Additionally, 25.1% of properties are owned with a mortgage, while 35.6% are rented, offering a mix of housing options for both homeowners and renters. The suburb's affordability, with a median total household income of $901 per week, makes it an attractive option for families and retirees alike.

Family dynamics in George Town are diverse, with 46.3% of families being couples without children, reflecting the suburb's appeal to empty nesters and retirees. Meanwhile, 29.5% of families are couples with children, and 23.2% are one-parent families, showcasing a supportive environment for families of all types. The community's welcoming nature and picturesque surroundings make George Town a desirable place to call home, offering a blend of natural beauty, historical charm, and a strong sense of community.

Suburbs near George Town

Some popular suburbs near George Town include:

How does George Town compare to nearby suburbs?

  • House price growth: Over the past 12 months, house prices in George Town have grown 18.7% higher than in Beauty Point.
  • Selling speed for houses: Properties in George Town are selling 45.1% faster than in Beauty Point.

Choose the right real estate agents in George Town

In George Town ,32 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 72.2% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 2.38% and 3.25%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.

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