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Prospect vs Devonport — which is best for rental demand?

Same eight metrics, scored against the same benchmark, ranked against a $600kbudget. Look for where one suburb is materially ahead — that's the dimension that should sway your call.

  1. Prospect

    TAS · 7250
    41Below trend
    Median
    $565k
    5y growth
    6.0%/yr
    BalancedStable but fully priced

  2. Devonport

    TAS · 7310
    42Below trend
    Median
    $495k
    5y growth
    7.2%/yr
    BalancedStable entry point

Metric breakdown

Each row scores 0–100 against a fixed benchmark. The leader on each row is highlighted.

Metric · weight
Prospect
Devonport
Capital growth (5y)
weight 22%
606.0%/yr
727.2%/yr
Rental yield
weight 13%
532.7%
532.6%
Rental demand
weight 10%
551.8%
402.4%
Population growth
weight 12%
313.1%
313.1%
Income growth
weight 12%
5213.0%
4812.0%
Construction pipeline
weight 15%
0–
0–
Affordability
weight 8%
66% under cap
1818% under cap
Supply tightening
weight 8%
60-2.0% YoY
500.0% YoY

Winner per dimension

Where each suburb leads the field, with the count of dimensions won.

  1. Prospect

    4/8
    • Rental yield
    • Rental demand
    • Income growth
    • Supply tightening

  2. Devonport

    2/8
    • Capital growth (5y)
    • Affordability

Why Prospect

Stable but fully priced

6.0%/yr capital growth, tight 1.8% vacancy.

Drivers
  • Capital growth6.0%/yr
  • Supply tightening-2.0% YoY
Risks
  • At top of budget (94% of cap)
  • No major construction project in this state

Construction ·UTAS Launceston Inveresk Campus5.3 kmRecently completed · 2024

Why Devonport

Stable entry point

7.2%/yr capital growth, 2.6% gross yield.

Drivers
  • Capital growth7.2%/yr
Risks
  • No major construction project in this state

Construction ·UTAS Launceston Inveresk Campus71.3 kmRecently completed · 2024