Kingston: A Prime Area for Growth in Tasmania’s Property Market
Kingston, a suburb located just a stone’s throw from Hobart, is rapidly emerging as a hotspot for property investment and growth. With its enviable beachside location, excellent transport links, and a wealth of development opportunities, Kingston is poised to become one of Tasmania’s most sought-after areas. According to property expert John McGrath in his McGrath Report 2025, Kingston is an area primed for growth, making it an attractive option for both homebuyers and investors alike.
The Allure of Kingston
Kingston is renowned for its stunning beaches and proximity to the Southern Outlet motorway, which allows residents to reach Hobart’s city center in just 10 minutes. This accessibility is a significant draw for those who wish to enjoy the tranquility of suburban life while still having easy access to urban amenities. The suburb’s picturesque coastline, combined with its family-friendly atmosphere, makes it an ideal location for young families and professionals alike.
Development Potential
One of the most exciting aspects of Kingston’s future is the potential for development. With a considerable amount of land still available for growth, the suburb is well-positioned to accommodate new housing projects, commercial developments, and community facilities. There are even discussions about establishing a performance center for Tasmania’s new AFL club in Kingston, which could further enhance the suburb’s appeal and drive property values upward.
The Broader Tasmanian Market
While Kingston is a standout, the broader Tasmanian property market is also showing signs of optimism. In his report, John McGrath noted that Hobart’s housing market experienced a slowdown in 2024, but he views this as an opportunity for growth. With Hobart finishing FY24 with the second most affordable median home price among Australian capital cities, the potential for first-time homebuyers to enter the market has never been better.
Infrastructure Developments
Major infrastructure projects are underway in Tasmania, including the Bridgewater Bridge and the proposed Macquarie Point Stadium, which will transform Hobart’s waterfront. These developments are expected to stimulate economic growth and attract new residents, further enhancing the appeal of Kingston and surrounding areas.
Launceston: A Cultural Hub
Beyond Kingston, Launceston is gaining recognition as a cultural and gastronomic destination. McGrath highlighted that house buyers in Launceston have been able to find bargains, with a modest 2.7% price reduction in the northern capital. The city’s vibrant food scene and cultural offerings make it an attractive option for those looking to invest in property.
Devonport’s Development Boom
On the north coast, Devonport is gearing up for a significant development boom, including a $240 million upgrade to the city’s port. This upgrade is expected to boost the region’s economic prospects, making it a more desirable place to live and invest. With some of the most affordable home values in Tasmania, Devonport presents a promising opportunity for investors.
McGrath’s Top Picks for 2025
In his report, John McGrath identified several key areas in Tasmania that are expected to experience growth in 2025:
Kingston – Hobart
As previously mentioned, Kingston is at the forefront of McGrath’s recommendations. Its strategic location, ongoing development potential, and community amenities make it a prime candidate for growth.
North Hobart – Hobart
Known for its vibrant nightlife and trendy eateries, North Hobart is attracting a hip crowd. Recent developments, such as The Rox, are expected to elevate the suburb’s profile and push property values closer to the $1 million mark.
Legana – Launceston
Legana, a semi-rural hub on the outskirts of Launceston, is becoming increasingly attractive to families. The completion of a new primary school in 2025 is likely to draw more young families to the area, further boosting property demand.
Latrobe – Devonport
Latrobe has seen significant land releases and development over the past decade. With a 9.6% jump in median house prices, it is becoming a neighborhood to watch, particularly for first-time homebuyers.
Primrose Sands – Regional Tasmania
Primrose Sands, a small seaside hamlet, is emerging as a gentrification hotspot. Known for its affordable housing and beautiful beach, the area is expected to see a rise in property values as new developments come to fruition.
Conclusion
Kingston and its surrounding areas are on the cusp of significant growth, driven by infrastructure developments, accessibility, and a vibrant community atmosphere. With John McGrath’s insights highlighting the potential for Kingston and other Tasmanian suburbs, now is an opportune time for investors and homebuyers to consider entering this promising market. As Tasmania continues to evolve, Kingston stands out as a beacon of opportunity in the property landscape.