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Midland highway overlooking South Launceston
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Top 5 best affordable suburbs in regional Tasmania 2026

The island state of Tasmania, known for its natural beauty, also offers opportunities for buyers looking for an affordable home. Venture outside the Hobart bubble into regional Tasmania, and you’ll find some growing regions with comparatively affordable home and lifestyle costs. You might even find the ideal home for you and your family there.

That said, price isn’t the only consideration when selecting a location to buy property. The ‘best’ lower-priced suburb in regional Tasmania will vary from buyer to buyer, and if you’re relocating from interstate, you’ll need to consider employment opportunities, and proximity to schools, hospitals or other infrastructure you need. 

We’ve used PRD’s Smart Moves: Regional Edition 2026 report to narrow down the top regional Tasmanian areas that are still affordable. PRD’s methodology considers the markets and Local Government Areas (LGAs) delivering a mix of “relative affordability, rental resilience, employment stability, and future housing supply”.

Below are the top five affordable regional markets in Tasmania according to PRD, as well as key statistics on the top three areas: 


Rank

Market

Median house price 2025

12-month price growth

1

Launceston LGA

$575,000

+4.5%

2

Waratah - Wynyard

$507,500

+5.7%

3

George Town

$449,000

+7.5%

4

Dorset 

$480,000

+6.7%

5

Devonport City

$525,000

+7.7%

Source: Smart Moves: Regional Edition 2026.

Launceston LGA

Tasmania’s Launceston LGA is situated 200 kilometres north of Hobart, with its city centre nestled on the picturesque Cataract Gorge. Home to around 71,000, it’s the state’s second most populated region, but the median house price is approximately 25% cheaper than Greater Hobart's. 

  • Major suburbs and localities: Launceston CBD, East Launceston, West Launceston, South Launceston, Lilydale, Swan Bay 
  • Vacancy rate (Dec 2025): 1.7%
  • Rental yield (Dec 2025): 3.8% for houses, 5.2% for units
  • Five-year population growth: 1.1%

Waratah - Wynyard

A smaller region in Tasmania’s north-west, Waratah-Wynyard is a steadily growing market for buyers looking for country or coastal property. With a modest population of just under 14,000, the area is known for tourism and agriculture, including the heritage-listed Table Cape Lighthouse and Table Cape Tulip Farm. 

  • Major suburbs and localities: Wynyard, Waratah, Savage River, Somerset, Sisters Beach
  • Vacancy rate (Dec 2025): 1.6%
  • Rental yield (Dec 2025): 3.2% for houses

George Town

George Town is one of Australia’s oldest European settlements, located in north-east Tasmania on the Tamar River. The George Town regional centre is about 250 kilometres north of Hobart, with a median house price about 35% cheaper in comparison.

  • Major suburbs: George Town, Hillwood, Pipers River, Low Head
  • Vacancy rate (Dec 2025): 1.2%
  • Rental yield (Dec 2025): 3.6% for houses

What are the cheapest regions in Tasmania to invest in 2026?

Cotality’s August regional market update analyses the performance of properties in regions outside of Australia’s capital cities. Based on median house price alone, these are the cheapest regions in Tasmania, outside of Greater Hobart: 

Rank

Region

Median dwelling value

1

Burnie - Somerset

$546,740

2

Devonport

$586,770

3

Ulverstone

$627,175

4

Launceston

$676,469

Source: Cotality, August 2026. Regional areas must have a population of 10,000 or more people to be considered.

According to Cotality data, the median dwelling value across all of regional Tasmania is $627,052 as of August 2026. 

This is cheaper than the median value for Greater Hobart, which Cotality lists as $756,951.

What to consider when looking for an affordable suburb in regional Tasmania

Of course, house and unit prices are a key consideration for buyers on the hunt for a solid investment in country Tasmania. 

Beyond price, though, it’s generally important to look at the following factors when comparing towns and suburbs:

  • Sales volume 
  • Potential population growth
  • Vacancy rates
  • Rental yields
  • Potential rental growth
  • Local infrastructure and amenities

Tara Donnelly is Canstar's Managing Editor, Utilities, leading the team that focuses on energy, telecommunications and consumer technology. For more than a decade she has authored hundreds of articles covering these topics across Australia, the US and Canada, including seven years as part of the Canstar Group. Her expertise has seen her appear in national media including 9 News, 7 News, Sunrise, the ABC , The Australian Financial Review, 4BC Radio and The Sydney Morning Herald. Tara has been nominated for multiple awards for her technology reporting, including Canstar’s highly commended recognition for Best Consumer Technology Coverage in 2024. She has a Bachelor of Communications from the University of Canberra and is passionate about simplifying complex subjects so consumers aren’t just informed, they’re connected and confident. You can follow Tara on LinkedIn.

Important Information

For those that love the detail

This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.

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