OA Logo Green
search icon

Get a property report and suburb profile for any property in Invermay

Join the 2 million Australians* who use our services every year.

Geo Page

Invermay suburb profile

Invermay is a vibrant suburb located just north of Launceston's city centre in Tasmania. Known for its mix of residential, commercial, and industrial areas, Invermay offers a diverse urban environment. The suburb is home to the University of Tasmania's Inveresk campus and the Queen Victoria Museum and Art Gallery, adding cultural and educational value to the area. Invermay's proximity to the Tamar River and its historic architecture provide a unique charm, while its local amenities, parks, and easy access to Launceston's CBD make it a convenient and appealing place for residents and visitors alike.

Invermay property market performance

Invermay's property market has shown robust growth over the past 12 months, with house values increasing by 10.7%. The current median house price stands at $535,000. However, the unit market remains stagnant, with no change in median value and minimal sales activity, as only one unit was sold in the past year.

Sales activity for houses has been relatively active, with 33 houses sold over the last 12 months. Houses are moving quickly, with a median of 34 days on the market, indicating strong demand in the area.

The rental market in Invermay has also experienced growth, with average rent for houses increasing by 9.9% to $500, while units saw a 6.1% rise, bringing the average rent to $350. This suggests a healthy demand for rental properties, particularly houses.

HousesUnits
Median price
Past 3 months
$536KN/A
Change in value
Past 12 months
13.4%N/A
Sold
Past 3 months
302
Median days on market
Past 12 months
34N/A
Average rent
Past 12 months
$510$380
Change in rent
Past 12 months
10.9%15.2%

5 year median price trend for houses and units

Access homes before they're listed for sale

Build a buying brief and get first access to properties that aren't yet on the market.

OpenAdvantage

Invermay demographics

Invermay, located in Tasmania, is a suburb that offers a blend of historical charm and modern convenience. With a population of 3,498, it is a close-knit community that enjoys the benefits of being near Launceston, one of Tasmania's major cities. The median age of 33 suggests a youthful demographic, likely attracted by the suburb's proximity to educational institutions and employment opportunities in the city.

The suburb's housing landscape is diverse, with a significant portion of properties being rented, accounting for 52.3% of the housing market. This high rental rate indicates a demand for flexible living arrangements, appealing to both young professionals and families. Meanwhile, 24.2% of properties are owned outright, and 23.6% are owned with a mortgage, reflecting a stable base of long-term residents who have invested in the area.

Family dynamics in Invermay are varied, with couple families without children making up 40.6% of the family households, while couple families with children account for 31.3%. One-parent families also form a significant part of the community at 25%, highlighting the suburb's inclusive nature. Invermay's blend of rental and ownership options, along with its family-friendly environment, makes it an attractive suburb for a wide range of residents seeking a balanced lifestyle in Tasmania.

Suburbs near Invermay

Some popular suburbs near Invermay include:

  • Launceston: Known for its historic architecture and vibrant city life, Launceston is located directly south of Invermay.
  • Trevallyn: Offering stunning views and a strong sense of community, Trevallyn is situated to the southwest of Invermay.
  • Mowbray: Known for its shopping facilities and educational institutions, Mowbray lies to the north of Invermay.
  • East Launceston: Featuring charming streets and a mix of heritage homes, East Launceston is located southeast of Invermay.
  • Riverside: Known for its family-friendly environment and recreational areas, Riverside is situated to the west of Invermay.

How does Invermay compare to nearby suburbs?

  • Median house prices: Invermay’s median house price is 32.6% lower than Launceston’s.
  • House price growth: Over the past 12 months, house prices in Invermay have grown 6.3% higher than in Launceston.
  • Selling speed for houses: Properties in Invermay are selling 5.6% faster than in Launceston.

Choose the right real estate agents in Invermay

Choosing the right real estate agent in Invermay can have a big impact on your sale. While there are 50 real estate agents working in the suburb, but just 5 of them were responsible for 43.4% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 2.38% to 3.25%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

Geo Page

Get a head start and compare top local agents in Invermay

Not quite ready to sell?

icon

Property report

Suburb and property report

Completed by independent professional experts not a computer.
Get a free property reporticon right chevron
icon

OpenEstimates

Digital estimate for your property

Compare your property to three recent sales to get a digital estimate.
Get a comparative estimateicon right chevron
icon

Navigate the market like a pro

Navigate the market

Get an understanding of the market signals you should keep an eye on.
Understand your local marketicon right chevron