Invermay
With 52.3% of residents renting, Invermay ranks among Launceston's most renter-heavy suburbs, yet sits in SEIFA decile 1 on three of four indexes, placing it in the bottom tenth nationally for both advantage and relative disadvantage. The median house price of $547,500 has climbed 17.7% from $465,000 in 2024, a pace outstripping many Tasmanian markets. At a median age of 33, residents are seven years younger than the national figure, and university qualifications reach 33.6%, which is 3.5 points above the national average. The combination of a young, highly-mobile population and a 12.1% vacancy rate tells the story: Invermay serves as a rental entry point for the Launceston labour market.
Population
3,498
Median Age
33.0
Household IncomeiMedian weekly household income (ABS Census)
$1,128/wk
DAs (12 months)iDevelopment Applications lodged in the past year
0
Median House
$548K
YTD 2026
The median house price of $547,500 in 2026 reflects strong recent growth, rising from $465,000 in 2024 and $490,000 in 2025. Over 30 years since 1996, the compound annual growth rate has averaged 7.6%. Separate houses dominate at 75.5% of stock, with three-bedroom dwellings making up 48.9% of homes. Monthly mortgage repayments average $1,092, and the mortgage-to-income ratio sits at 22.4%, below the stress threshold of 30%, making ownership more accessible compared to most eastern seaboard cities. However, only 23.6% of households carry a mortgage, against 52.3% renting, which signals that buyers face competition from a dominant rental market rather than a deep pool of owner-occupiers. Outright owners at 24.2% suggest a cohort of long-held properties with few turnovers.
For Buyers
The median house price of $547,500 in 2026 reflects strong recent growth, rising from $465,000 in 2024 and $490,000 in 2025. Over 30 years since 1996, the compound annual growth rate has averaged 7.6%. Separate houses dominate at 75.5% of stock, with three-bedroom dwellings making up 48.9% of homes. Monthly mortgage repayments average $1,092, and the mortgage-to-income ratio sits at 22.4%, below the stress threshold of 30%, making ownership more accessible compared to most eastern seaboard cities. However, only 23.6% of households carry a mortgage, against 52.3% renting, which signals that buyers face competition from a dominant rental market rather than a deep pool of owner-occupiers. Outright owners at 24.2% suggest a cohort of long-held properties with few turnovers.
For Investors
A 52.3% renter share is the headline figure for investors, well above the national renter average, and weekly rents of $285 against the $547,500 median imply a gross yield near 2.7%. The 12.1% vacancy rate is a caution flag, signalling meaningful oversupply at any given time. Net internal migration runs at a negative 90 persons annually, offset only partly by 46 overseas arrivals per year, meaning demand growth depends on overseas migration rather than domestic movement. Rent has grown 50% over the period covered by the brief, considerably above general inflation. The 32.8% annual turnover rate, where nearly one in three residents change address each year, keeps tenant churn high, which adds management costs relative to more stable suburbs.
Schools in Invermay iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Launceston Big Picture School
9-12 · 95 students
St Finn Barr's Catholic Primary School
Prep-6 · 282 students
Invermay Primary School
K-6 · 295 students
Demographics
The median age of 33 is 7 years below the national figure, making Invermay a decidedly young suburb by Australian standards. University qualifications at 33.6% sit 3.5 points above the national average, which is notable given the SEIFA decile 1 disadvantage rating. Overseas-born residents are 22.5% of the population, within 0.9 points of the national average. English-origin ancestry leads at 1,328 residents, followed by Irish (369) and Scottish (324), giving the suburb an Anglo-Celtic character. Among non-English languages, Nepali (54 speakers) and Mandarin (42) are the most common, reflecting a modest international student and migrant presence. Average household size is 2.2, which is 0.3 below national, consistent with more single-person and couple-only households in a rental-heavy area.
Age Distribution
Bedrooms
Dwelling Structure
75.5%
Houses
13.1%
Townhouse
10.8%
Apartment
Tenure
The tenure split places Invermay firmly in renter territory: 52.3% rent, 24.2% own outright and 23.6% carry a mortgage. This rental-majority balance is more pronounced than most Australian suburbs and reflects the suburb's role as a workforce rental hub. Three-bedroom homes account for 48.9% of stock, followed by two-bedroom at 29.2%, while 4-plus bedroom homes are only 10.8%. Separate houses make up 75.5% despite the rental profile, meaning the majority of tenants live in standalone dwellings rather than apartments. The price trajectory has been consistent: $465,000 in 2024, $490,000 in 2025, $547,500 in 2026 at current median, against an earliest recorded price of $61,000 in 1996. Rent-to-income at 25.3% stays below the 30% stress threshold, keeping renters manageable even on below-average incomes.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,092
Rent / wk
$285
HH Size
2.2
Personal Income / wk
$626
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
12.1%
Unoccupied
184
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
25.3%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
22.4%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
30.4%
Couples, no children
2,034
Total families
Economy & Employment
Healthcare is the dominant industry at 23.1% (241 workers), reflecting the proximity to Launceston General Hospital. Education follows at 10.2% and Hospitality at 9.8%, together creating a service-sector employment base. Construction (7.7%) and Manufacturing (7.5%) add a blue-collar layer. By occupation, Professionals and Community/Personal Service workers each account for 276 people, followed by Labourers at 205. The unemployment rate of 11.1% is considerably above the national average, while the participation rate of 53.7% is low, with 939 residents not in the labour force. SEIFA decile 1 scores across IRSAD, IRSD and IEO all point to concentrated disadvantage, though the IEO score of 932 is higher than the IRSD score of 888, which suggests the local workforce has somewhat higher education attainment than wealth would imply.
Unemployment
5.8%
Labour Force
1,953
Unemployed
113
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
54.0%
Part-time
34.9%
Participation
53.7%
Employed
1,444
Occupations
Top Industries
University
33.6%
Postgraduate
10.7%
Born Overseas
22.5%
Dwellings
1,337
Transport to Work
Transport reliance in Invermay favours cars, with 76.4% driving to work, while 12.1% walk or cycle, a rate higher than most Australian suburbs and consistent with the compact 4.03 km2 area and a younger resident profile. Only 2.6% use public transport, below the national figure. SEIFA IRSAD decile 1 indicates high relative disadvantage nationally, though 17% of residents volunteer, and the need-for-assistance rate of 7.2% (221 people) is moderate. No schools are recorded within the suburb boundary in this dataset, so families depend on schools in neighbouring Launceston suburbs. Rent-to-income at 25.3% and mortgage-to-income at 22.4% both sit below the stress threshold of 30%, which provides some financial buffer for residents despite low absolute incomes.
Drive
76.4%
Public Transport
2.6%
Walk / Cycle
12.1%
Work from Home
N/A
Population Forecast
+0.61%/yr
(+21 people/yr)
EstablishedPopulation has edged down from 3,530 in 2023 to 3,460 in 2025, a contraction that runs against the medium forecast of 3,551 to 3,657 between 2026 and 2031. The modest 0.61% annual growth rate adds only about 21 persons per year. Over 10 years the suburb grew 13.1%, which is moderate by national standards. Net internal migration is negative at 90 departures annually, while overseas migration adds 46 per year, making Invermay dependent on overseas arrivals for any net gain. The gentrification score of 15 places it in the not gentrifying category at present, though the shift data shows a young-resident base declining (young share down 2.3 points) while working-age share rose 2.3 points. Real income growth of 30.2% over the decade is a positive structural signal, and affordability has improved from 48.6% in 2011 to 45.5% in 2021.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+46
Net Internal / yr
-90
Gentrification Signal
Not gentrifying
Accelerating: -4% → 11%
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Invermay compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Invermay a good suburb to live in?
Invermay offers genuine affordability, with a median house price of $547,500 and mortgage-to-income at 22.4%, well below the 30% stress threshold. The suburb has a young median age of 33, seven years below national, and university qualifications at 33.6% sit above average. The trade-offs are a SEIFA decile 1 disadvantage rating and an 11.1% unemployment rate that is considerably above national levels.
What is the median house price in Invermay?
The median house price is $547,500 as of 2026, up from $465,000 in 2024 and $490,000 in 2025. Weekly rent averages $285 and monthly mortgage repayments average $1,092. Over 30 years from 1996, the compound annual growth rate has been 7.6%, from an earliest recorded price of $61,000.
What schools are in Invermay?
No schools are recorded within the Invermay boundary in this dataset. Families rely on schools in adjoining Launceston suburbs. Despite the low SEIFA decile 1 score, university qualifications in Invermay reach 33.6%, which is 3.5 points above the national average, suggesting residents access tertiary education at above-average rates.
Is Invermay safe?
Detailed crime statistics are not available for Invermay in this dataset. As an indirect indicator, the suburb scores SEIFA IRSD decile 1, the lowest advantage tier nationally, and the unemployment rate of 11.1% is considerably above average. The 17% volunteering rate and manageable housing-cost-to-income ratios (rent-to-income 25.3%) suggest a community with active social engagement despite economic pressure.
Is Invermay good for property investment?
Invermay's 52.3% renter share is well above national averages, providing a deep tenant base. Weekly rent of $285 against the $547,500 median implies a gross yield near 2.7%. However, the 12.1% vacancy rate signals oversupply risk, and net internal migration is negative at 90 persons annually. Rent growth of 50% over the period covered is strong, but the 11.1% unemployment rate adds tenant-default risk.
How is Invermay's population changing?
Population has contracted slightly from 3,530 in 2023 to 3,460 in 2025, but medium forecasts project a recovery to 3,657 by 2031 at 0.61% annual growth. Net internal migration removes about 90 residents per year, while overseas migration adds 46. Over the past 10 years, total population growth was 13.1%, moderate by national standards.
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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