Question 1

Is Kings Meadows a nice place to live?

Accepted Answer

Kings Meadows is an established residential suburb of Launceston that offers practical, everyday living close to the city. It centres on a local shopping precinct and contains post-war weatherboard cottages, brick family homes and more recent townhouses, with parks and sporting fields scattered through the area. Regular bus services connect residents to Launceston. The community of 4,359 people has a median age of 38; family households predominate and 65.5% of homes are owner-occupied while about a third are rented.

Several public projects are active around Kings Meadows: the Kings Meadows Community Health Centre is being redeveloped to include a new renal dialysis unit; a Homes Tasmania land release will add about 104 residential lots with a proportion earmarked for social and affordable housing; there are transport upgrades on the Midland Highway; and the former YMCA site is being revitalised for supported studio accommodation for older women. That combination of established housing, local shops, parks and improving services tends to suit families, older residents and people looking for straightforward, well-serviced suburban living, but whether it fits you depends on what you want from a suburb.

Question 2

Is it expensive to live in Kings Meadows?

Accepted Answer

A median house price of $695,000 in Kings Meadows works out to about 10.2 times a typical local household's annual income as recorded at the most recent Census, so buying sits well above what people locally earned at that time.

Rents also take a large share of local incomes: house rents averaging $550 a week would be about 42.1% of a typical local household's weekly income at the last Census, and unit rents averaging $475 a week would be about 36.4%. If you're renting rather than buying, those rent shares are the most relevant numbers and will matter most to your decision.

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 Kings Meadows a good place to invest?

Accepted Answer

House rents in Kings Meadows jumped 14.6% over the past year, and house values rose a strong 13.6%. Both of those moves outpaced the unit side, where median unit values increased 8.5% and unit rents rose a solid 5.6%.

If rental income is your priority, the 14.6% gain in house rents is the most relevant figure; if you care more about capital growth, the 13.6% rise in house values is the one to watch. Whether that balance suits your goals and circumstances is for you to decide.

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	$695K	N/A
Change in value Past 12 months	13.6%	8.5%
Sold Past 3 months	25	5
Median days on market Past 12 months	13	47
Average rent Past 12 months	$550	$475
Change in rent Past 12 months	14.6%	5.6%

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