38 Richings Drive, Youngtown TAS 7249

38 Richings Drive, Youngtown TAS 7249
Large 981m² family block | four-bed, two-bath layout | tightly held Richings Drive pocket | strong family-buyer appeal The property is presented as a four-bedroom, two-bathroom house on a large 981m² block, a size not commonly found in this part of Youngtown. The configuration is suited to growing families and owner-occupiers seeking space within an established suburb. The tightly held nature of Richings Drive is considered a competitive advantage, as stock turnover in the pocket is known to be low. The house is positioned to serve buyers who value a substantial backyard and a detached footprint. The block itself is regarded as the standout feature, with room available for play, gardening, or possible future additions. Value may be influenced by the condition of internal finishes and any improvements completed since 2004. Redevelopment potential might be supported by the generous land area, subject to planning rules. Market appeal is likely to be shaped by how the house compares with similar family dwellings nearby, particularly presentation and amenity. Kitchen quality may be clarified by inspection. >>Comparable Sales: 13 Redwood Cres (5-bed family house, sold about $950,000) and 1/63 Richings Drive (2-bed unit, sold about $550,000) | Property Price Band: $800,000–$900,000 | Value Drivers: land size, four-bed layout, pocket location
Detailed Independent Property Report prepared  by PropCred Analyst team for 38 Richings Drive, Youngtown TAS 7249
Checks found:
Value Risk ✕ 2
Liquidity Risk ✕ 2
Planning Risk ✓
Income Risk ! 1
Execution Risk ✓
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Market Insight

Youngtown, in the Launceston and North East Tasmania region, is a detached-house market dominated by mortgaged owners. Demand is led by purchasers (39% of residents) and mature couples: 28% are aged 60+, 35% over 55, and 45% of households are childless. Median house prices sit between $577,944 and $622,000, with annual growth ranging from -3.68% to 8.6% across sources. Units are weaker, with medians of $384,000–$455,000 and falls as steep as -12.3%. Houses sell in 14–55 days and yield about 4.3%; unit yields run 3–5.28%. Regional connectivity and recent sales up to $958,000 for 3–5 bedroom homes support demand. Risks include conflicting price signals, notable listings (211 for sale, 423 rentals), and rate sensitivity among mortgaged owners.
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PropCred Estimated Value

Bedrooms

4

Bathroom

2

Parking

3

Land

981m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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