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Summerhill suburb profile

Summerhill is a peaceful suburb located in the northern city of Launceston, Tasmania, known for its family-friendly atmosphere and scenic surroundings. Situated just a short drive from the city center, it offers residents a tranquil lifestyle with the convenience of urban amenities nearby. The suburb is characterized by its leafy streets, well-maintained parks, and a strong sense of community. Summerhill is home to a mix of housing styles, from charming older homes to modern developments, catering to a diverse range of residents. Its proximity to schools, shopping centers, and recreational facilities makes it an attractive choice for families and individuals seeking a balanced lifestyle.

Summerhill property market performance

Summerhill's property market has experienced modest growth over the past 12 months, with house values increasing by 1.9% and unit values by 1.8%. The median house price currently stands at $528,000, while units are priced at $222,500, indicating a stable market environment.

Sales activity has been relatively low, with 10 houses and just 1 unit sold in the past 12 months. Houses are selling quickly, with a median of 16 days on the market, whereas units are taking longer, with a median of 30 days, suggesting a slower pace in the unit market.

The rental market in Summerhill has shown varied trends, with house rents remaining unchanged over the last 12 months, while unit rents have increased by 6.1%, reflecting a stronger demand for rental units in the area.

Median price - houses$520KPast 3 months

Median price - units$287KPast 3 months

Change in value - houses-0.9%12 months

Change in value - units1.8%12 months

Houses sold8Past 3 months

Units sold1Past 3 months

Median DOM - houses14.5Past 12 months

Median DOM - units29.5Past 12 months

Average rent - houses$485Past 12 months

Average rent - units$408Past 12 months

Change in rent - houses-1.0%Past 12 months

Change in rent - units-4.1%Past 12 months

Summerhill demographics

Summerhill, located in the northern part of Tasmania, is a suburb known for its family-friendly atmosphere and community-oriented lifestyle. With a population of 3,139, it offers a peaceful environment that appeals to families and individuals seeking a quieter pace of life. The median age of 38 suggests a mature community with a mix of young families and established residents who appreciate the suburb's balance of suburban tranquility and accessibility to nearby amenities.

The suburb's housing landscape is characterized by a high rate of home ownership, with 32.7% of properties owned outright and 40.1% owned with a mortgage. This indicates a stable community with a significant number of long-term residents. Renting is less common, with only 27.2% of properties being rented, which may appeal to those looking for a more permanent place to settle down.

Family structures in Summerhill are diverse, with 38.8% of households being couple families with children and 37.6% being couple families without children. One-parent families make up 21.9% of the community, reflecting a supportive environment for various family dynamics. The suburb's median household income of $1,327 per week aligns with its family-oriented nature, providing a comfortable standard of living for its residents. Overall, Summerhill offers a welcoming and stable environment, ideal for those seeking a community-focused lifestyle in Tasmania.

Summerhill infrastructure, key developments and investment opportunities

Summerhill is experiencing steady growth and development that may impact its property market. The recent completion of upgrades to Summerdale Primary School has enhanced local education facilities, potentially attracting more families to the area. Additionally, ongoing residential developments are increasing housing supply and modernizing parts of the suburb.

The suburb's proximity to Launceston CBD (about 6km south) and good public transport links continue to be key selling points. While no major infrastructure projects are currently underway specifically in Summerhill, the broader Launceston area is seeing investments in healthcare and transport that may indirectly benefit the suburb. Overall, Summerhill remains an attractive option for families and professionals seeking a quiet residential area with easy access to city amenities.

Summerhill rental market trends

The rental market in Summerhill has shown stability, with house rents remaining unchanged at $480 per week over the past year. In contrast, unit rents have experienced a 6.1% increase, reaching $438 per week. This steady demand for units highlights Summerhill's appeal to renters seeking affordable options in a well-established suburb.

Suburbs near Summerhill

Some popular suburbs near Summerhill include:

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Common questions about Summerhill

  • Is Summerhill a nice place to live?

    Summerhill is a delightful suburb that offers a serene and welcoming environment, making it a wonderful place to live. Nestled in the northern city of Launceston, it provides a peaceful retreat with the convenience of urban amenities just a short drive away. The suburb is known for its charming leafy streets and well-maintained parks, creating a picturesque setting that appeals to families and individuals alike. The community-oriented lifestyle is a significant draw, with a mix of housing styles that cater to diverse preferences, from older homes with character to modern developments.

    Families will find Summerhill particularly appealing due to its proximity to quality schools and recreational facilities. The suburb's strong sense of community and safety make it an ideal place for raising children. While it may not have the bustling nightlife of a city center, Summerhill compensates with its tranquil atmosphere and access to shopping centers and cafes, ensuring residents have everything they need close by. The suburb's location also offers easy access to Launceston's CBD, making it convenient for professionals who work in the city.

    One trade-off of living in Summerhill might be the quieter pace of life, which may not suit those seeking a vibrant urban experience. However, for those who value a stable, community-focused environment, Summerhill is an excellent choice. The ongoing development and upgrades in the area suggest a promising future, with potential benefits from broader infrastructure investments in Launceston. Overall, Summerhill is a charming and peaceful suburb that offers a balanced lifestyle, perfect for families and individuals seeking a harmonious blend of tranquility and accessibility.

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  • Is it expensive to live in Summerhill?

    Living in Summerhill can be considered moderately affordable when compared to larger cities in Australia. The current median house price is $528,000, while units are significantly cheaper at $222,500. If you're looking to rent, the average rent for houses is $480 per week, and units are slightly less at $438 per week. These figures suggest that housing costs in Summerhill are relatively manageable, especially when compared to the more expensive urban areas.

    The average annual wage in Summerhill is around $81,000, which aligns closely with the median weekly household income of $1,327. When comparing these figures to the average wages in Tasmania, Summerhill's income levels are quite reasonable, providing a good balance between income and housing costs. This makes Summerhill an attractive option for those looking to enjoy a more relaxed lifestyle without the hefty price tag associated with bigger cities. Overall, Summerhill offers a comfortable living standard with housing prices that are accessible for many working individuals and families.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Summerhill a good place to invest?

    Summerhill presents a stable investment opportunity with modest growth in property values over the past year. The suburb has seen a 1.9% increase in median house values and a 1.8% rise in unit values, indicating a steady, albeit slow, upward trend. This suggests that while Summerhill may not be the fastest-growing suburb, it offers a level of consistency that can be appealing for investors looking for a reliable market.

    One of the standout features of Summerhill is the significant increase in rental returns for units, which have grown by 6.1% over the last year. This makes units an attractive option for investors seeking strong rental yields. Although house rents have remained stable with no change, the overall rental market in Summerhill appears to be robust, particularly for units, which could appeal to young professionals or students looking for affordable living options.

    Overall, Summerhill offers a balanced investment landscape with its steady property value growth and promising rental returns for units. While it might not deliver rapid capital gains, its stability and potential for rental income make it a sound choice for investors seeking a dependable market with room for gradual appreciation.

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