George Town
With a median age of 45 and all four SEIFA indexes sitting in decile 1, George Town sits among the most disadvantaged communities in Australia. Household income is in the 8.9th percentile nationally, meaning 91% of suburbs report higher household earnings. Yet house prices have compounded at 8.8% annually since 1996, with the median now at $462,550, up from $37,000 at trough. The population is aging, with the senior share rising 9.1 points over the decade while the working-age share fell 3.3 points, and 14.0% unemployment reflects structural economic challenges rather than a temporary cycle.
Population
4,536
Median Age
45.0
Household IncomeiMedian weekly household income (ABS Census)
$901/wk
DAs (12 months)iDevelopment Applications lodged in the past year
0
Median House
$463K
YTD 2026
At $462,550, the median house price in George Town is well below the TAS state average and far below national levels, making it one of the more affordable entry points on the island. Prices have risen sharply in recent years, climbing from $365,000 in 2024 to $420,000 in 2025 and to $462,550 in 2026, a 26.7% increase across two years. Monthly mortgage repayments average $913, which represents a mortgage-to-income ratio of 23.4%, below the 30% stress threshold. The stock is dominated by separate houses at 87.0%, with three-bedroom dwellings accounting for 65.6% of all homes. Outright owners make up 39.3% of households, above the proportion still carrying a mortgage at 25.1%, which suggests a stable, long-term resident base.
For Buyers
At $462,550, the median house price in George Town is well below the TAS state average and far below national levels, making it one of the more affordable entry points on the island. Prices have risen sharply in recent years, climbing from $365,000 in 2024 to $420,000 in 2025 and to $462,550 in 2026, a 26.7% increase across two years. Monthly mortgage repayments average $913, which represents a mortgage-to-income ratio of 23.4%, below the 30% stress threshold. The stock is dominated by separate houses at 87.0%, with three-bedroom dwellings accounting for 65.6% of all homes. Outright owners make up 39.3% of households, above the proportion still carrying a mortgage at 25.1%, which suggests a stable, long-term resident base.
For Investors
Rental demand is genuine, with 35.6% of households renting, but the 7.7% vacancy rate is elevated compared to tighter metro markets and warrants caution. Median weekly rent of $220 against a $462,550 house price implies a gross yield around 2.5%, modest but higher than capital-city benchmarks. Rent has risen 29.4% over the period, outpacing the modest 7.0% real income growth, which compresses tenant affordability. Migration drivers are balanced, with approximately 40 net internal arrivals and 25 net overseas arrivals annually. No development applications were recorded in the past 12 months, pointing to a static supply environment where price movements are driven by existing stock rather than new builds.
Schools in George Town iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Star of the Sea Catholic College
Prep-10 · 181 students
South George Town Primary School
K-6 · 203 students
Port Dalrymple School
K-12 · 381 students
Demographics
The median age of 45 is 5.0 years above the national average, one of the clearest signals of an aging population trajectory. University qualifications reach only 12.7%, which is 17.4 percentage points below the national figure, reflecting the occupational and industry structure dominated by labourers and machinery operators rather than knowledge workers. Overseas-born residents make up 12.1%, which is 9.5 points below the national rate. Ancestry is predominantly Anglo-Celtic: English (2,096 residents), Scottish (419) and Irish (397) are the top three, consistent with the area's long European-Australian settlement history. Average household size is 2.2, slightly below the national figure, and 33.9% of families are couples without children, a pattern typical of older-skewing communities.
Age Distribution
Bedrooms
Dwelling Structure
87.0%
Houses
11.2%
Townhouse
1.4%
Apartment
Tenure
The housing stock is almost entirely detached, with 87.0% separate houses and only 1.4% apartments, a proportion lower than most Australian suburbs. Two-bedroom homes account for 14.8%, three-bedroom dwellings for 65.6% and four-or-more-bedroom homes for 15.8%, so the stock skews toward family-sized dwellings. Tenure splits show 39.3% owning outright, 25.1% on a mortgage and 35.6% renting, with the high outright-ownership share reflecting the older demographic profile. The long-run price record spans 30 years: from $37,000 in 1996 to a current $462,550, a compound annual growth rate of 8.8%. Rent-to-income sits at 24.4%, below the 30% stress threshold, so tenants are not yet in distress despite above-average vacancy.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$913
Rent / wk
$220
HH Size
2.2
Personal Income / wk
$483
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
7.7%
Unoccupied
158
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
24.4%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
23.4%
Community Profile
Ancestry
Household Composition
33.9%
Couples, no children
3,409
Total families
Economy & Employment
Manufacturing leads the local economy at 20.6% of employment (153 workers), followed by Healthcare at 18.0% (134) and Education at 10.6% (79). These three sectors together account for nearly half of all local jobs, pointing to a mixed industrial-services base rather than pure reliance on any single industry. By occupation, Labourers (273) are the largest group, followed by Machinery/Drivers (209) and Community/Personal workers (208), consistent with the SEIFA decile 1 score across all four indexes. Unemployment stands at 14.0%, significantly above national norms, and the participation rate is only 40.6% because 1,872 residents are not in the labour force. Personal weekly income averages $483 and household weekly income $901, placing George Town in the 8.9th percentile nationally.
Unemployment
6.5%
Labour Force
3,110
Unemployed
203
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
58.4%
Part-time
27.6%
Participation
40.6%
Employed
1,299
Occupations
Top Industries
University
12.7%
Postgraduate
2.8%
Born Overseas
12.1%
Dwellings
1,896
Transport to Work
Car dependence is high, with 88.4% of residents driving to work and only 0.6% using public transport, reflecting the regional setting and limited public transit options typical of small Tasmanian towns. Walking and cycling account for 5.0%, slightly higher than car-reliant outer suburbs elsewhere. SEIFA IRSAD is decile 1, the bottom tier nationally, indicating significant disadvantage in income, education, employment and housing relative to all other Australian suburbs. About 10.9% of residents (465 people) need daily assistance, which is above the national average and consistent with the older median age of 45. Volunteering runs at 15.5%, a reasonable rate for a community of this size. No schools are recorded within the suburb boundary in this dataset, and crime data is not available for direct comparison.
Drive
88.4%
Public Transport
0.6%
Walk / Cycle
5.0%
Work from Home
N/A
Population Forecast
+0.54%/yr
(+40 people/yr)
EstablishedThe population has held relatively flat in recent years at 7,465 in 2025, up from 7,416 in 2024, and the medium forecast projects gradual growth to around 7,679 by 2031. The annual growth rate is 0.54%, or approximately 40 persons per year. Over the prior decade, population grew 6.4%. The aging trajectory is the dominant demographic force, with the senior share up 9.1 points and the young-adult share down 5.0 points over 10 years. Gentrification scores as not gentrifying (score 0), consistent with sustained decile 1 SEIFA ranking and no signals of investment-driven price pressure or in-migration of higher-income households. Affordability has stayed stable, moving from 43.0% in 2011 to 42.3% in 2021.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+25
Net Internal / yr
+40
Gentrification Signal
Not gentrifying
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How George Town compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is George Town a good suburb to live in?
George Town offers genuine affordability, with a $462,550 median house price and mortgage repayments of $913 per month, representing a 23.4% mortgage-to-income ratio below the stress threshold. However, all four SEIFA indexes rank in decile 1, the lowest tier nationally, and unemployment is 14.0%, so the trade-off is lower services and fewer employment options than higher-ranked suburbs.
What is the median house price in George Town?
The median house price is $462,550 (YTD 2026), up from $365,000 in 2024, a 26.7% rise across two years. Monthly mortgage repayments average $913 and weekly rent averages $220. The compound annual growth rate over 30 years since 1996 is 8.8%.
What schools are in George Town?
No schools are recorded within the George Town suburb boundary in this dataset. With a population of 4,536 and a median age of 45, the suburb has a smaller proportion of school-age children than the national average, with young-adult share declining 5.0 points over the past decade.
Is George Town safe?
Crime statistics are not available for George Town in this dataset. As a proxy, all four SEIFA indexes sit in decile 1, the highest-disadvantage tier nationally, and unemployment is 14.0%, factors that can correlate with elevated crime rates. Rent-to-income of 24.4% suggests tenants are not in acute financial stress, which is a moderating factor.
Is George Town good for property investment?
Gross yield is approximately 2.5% based on $220 weekly rent and $462,550 median price. Rent has grown 29.4% over the measured period, and the 30-year CAGR of 8.8% shows sustained capital growth. The 7.7% vacancy rate is a caution signal, and zero development applications in the past 12 months limits short-term supply pressure.
How is George Town's population changing?
Population stood at 7,465 in 2025, with annual growth of 0.54% (about 40 persons per year). The 10-year growth rate is 6.4%. The trajectory is aging, with the senior share up 9.1 points and the young-adult share down 5.0 points over the decade. Medium forecasts project growth to 7,679 by 2031.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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