Devonport
Why Devonport?
Devonport is Tasmania’s third-largest city and its primary port, handling over half of the state’s containerised cargo and serving as a major ferry and air transport gateway. The city’s economy is diverse, spanning logistics, agriculture, manufacturing, healthcare, retail, and tourism. Ongoing investment in port upgrades, local precincts, and infrastructure is fuelling steady growth and opportunity across the region.
Investment Highlight:
Median house price: A$475,000, up 4.1% over the past 12 months
Median unit price: A$395,000, up 3.9% over the past 12 months
Gross rental yields: Around 4.8% for both houses and units
Median weekly rents: A$450 for houses and A$350 for units
Strong market activity: Approximately 235 houses and 65 units sold in the past year, with houses averaging 32 days on market and units 26 days
Major projects: The A$240 million QuayLink port redevelopment will boost freight and tourism, while the showgrounds renewal will add new housing, commercial spaces, and public amenities.
Approximate Cost:
Median house price: A$475,000
Median unit price: A$395,000
Rental yields: 4.8% for houses and units
Median weekly rent: A$450 (houses), A$350 (units)
Vacancy rate: Approximately 0.5% to 0.7%, indicating very strong tenant demand
Ideal For: Devonport is ideal for investors seeking stable returns and long-term growth driven by strategic port and infrastructure investments. It’s equally appealing to first-home buyers and downsizers who appreciate affordable coastal living with local services close at hand. Developers and commercial operators will also find value in the city’s urban renewal projects and its status as a key Tasmanian transport and tourism gateway.
