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Mowbray suburb profile

Mowbray is a vibrant suburb located in the northern part of Launceston, Tasmania, known for its convenient amenities and community-focused atmosphere. Situated just a short drive from the city center, Mowbray offers a blend of residential, commercial, and educational facilities, making it a popular choice for families and students. The suburb is home to the University of Tasmania's Newnham campus, contributing to its youthful and dynamic vibe. With a variety of shopping centers, parks, and recreational options, Mowbray provides a balanced lifestyle. Its accessibility and welcoming community make it an appealing place for residents and visitors alike.

Mowbray property market performance

Current median dwelling price$595,375Past 3 months

Property growth+22.6%Past 12 months

Mowbray’s property market has experienced significant growth over the past 12 months, with both houses and units seeing substantial increases in value. House values have surged by 19.1%, while unit values have skyrocketed by 33.3%. The median house price over the past three months has averaged $582,000, while units have averaged $612,750, indicating a strong demand for both property types.

Sales activity has been robust, with 35 houses and 10 units sold in the past three months. Properties are moving quickly, with houses spending a median of 26 days on the market and units just 21 days, reflecting high buyer interest and competition.

The rental market in Mowbray has also seen notable changes, with house rents increasing by 8.4% and unit rents rising by 15.8% over the last 12 months, highlighting a strong demand for rental properties in the area.

HousesUnits
Median price
Past 3 months
$578KN/A
Change in value
Past 12 months
20.0%25.2%
Sold
Past 3 months
347
Median days on market
Past 12 months
2323
Average rent
Past 12 months
$490$440
Change in rent
Past 12 months
8.9%16.4%

5 year median price trend for houses and units

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Mowbray demographics

Mowbray, located in Tasmania, is a suburb that offers a blend of suburban tranquility and convenient access to urban amenities. With a population of 4,048, Mowbray is a community that appeals to a diverse range of residents, including families, young professionals, and students. The median age of 32 suggests a youthful demographic, likely influenced by the presence of educational institutions nearby, which attract students and young families seeking a balanced lifestyle.

The suburb's housing landscape is varied, with a significant portion of properties being rented, accounting for 51.1% of the housing market. This high rental rate indicates Mowbray's appeal to those seeking flexible living arrangements, such as students and transient professionals. Meanwhile, 25.5% of properties are owned outright, and 23.4% are owned with a mortgage, reflecting a stable base of long-term residents who have invested in the area.

Family dynamics in Mowbray are diverse, with couple families with children making up 36.5% of the population, closely followed by couple families without children at 36.0%. One-parent families also form a significant part of the community, comprising 24.5% of families. This mix of family types contributes to a vibrant and inclusive community atmosphere. Mowbray's relatively affordable median household income of $1,138 per week makes it an attractive option for those looking to balance cost of living with quality of life, offering a welcoming environment for both new and established residents.

Suburbs near Mowbray

Some popular suburbs near Mowbray include:

How does Mowbray compare to nearby suburbs?

  • Median house prices: Mowbray’s median house price is 7.8% higher than Invermay’s.
  • House price growth: Over the past 12 months, house prices in Mowbray have grown 2.8% higher than in Newnham.
  • Unit price growth: Over the past 12 months, unit prices in Mowbray have grown 24.2% higher than in Riverside.
  • Selling speed for houses: Properties in Mowbray are selling 32.4% faster than in Invermay.
  • Selling speed for units: Properties in Mowbray are selling 4.2% faster than in Newnham.

Choose the right real estate agents in Mowbray

Currently, there are 47 real estate agents working in Mowbray—but not all agents deliver the same results. The right agent could make a huge difference to your final sale price.

Only 5 out of these 47 agents sold 42.9% of all properties in Mowbray over the past year. Choosing one of these top-performing agents means tapping into proven expertise for a better sale outcome.

Real estate agents in Mowbray typically charge a commission of 2.38% to 3.25%. Negotiating a fair commission rate and the right structure can motivate your agent to work even harder, helping you sell for more and potentially saving you thousands of dollars.

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