Find Finance & Mortgage Brokers in Devonport

Find Clarity in the Devonport Loan Market Devonport is a vital northern Tasmanian city positioned as key ferry terminal connecting Tasmania to mainland Australia via Spirit of Tasmania services, with rebounding property market after experiencing flat growth period through early 2020s. The market shows resilience in late 2024 and 2025, recording steady positive annual growth around 4-5% for first time since 2022, driven by improved connectivity with new Spirit of Tasmania vessels commissioned, local industry stability including port operations and manufacturing, and affordable entry prices attracting mainland investors and lifestyle buyers.

Housing stock comprises mainly detached homes in established suburbs like East Devonport and Spreyton, modern developments in growth areas, and some unit supply gaining momentum with +5.77% growth appealing to downsizers and investors. The market offers median house prices at $485,000 and units at $412,500 representing exceptional affordability compared to mainland markets, strong rental yields of 4.95% houses and 5.33% units making it attractive for income-focused investors, and improving capital growth as market recovers from previous stagnation.

Economic drivers include Port of Devonport supporting import/export activities, Spirit of Tasmania creating tourism and transport employment, healthcare centered on Mersey Community Hospital, and manufacturing base providing employment diversity. Rental market remains robust despite previous price corrections, with vacancy rates at 2.1% and median rents supporting solid yields.

Major developments include proposed roofed stadium for Tasmania’s AFL team potentially benefiting northern region, hospital infrastructure improvements, and ongoing residential land releases. Devonport appeals to mainland investors seeking affordable Tasmanian entry with improving fundamentals, lifestyle buyers attracted by coastal location and ferry connectivity, retirees pursuing affordable living in well-serviced regional center, and local buyers benefiting from recovery phase pricing.