Devonport is a vibrant port city nestled at the mouth of the Mersey River on Tasmania’s scenic north-west coast, offering a harmonious blend of maritime heritage, modern amenities, and gateway access to the island’s natural wonders. Boasting a revitalised waterfront precinct, complete with an elevated riverside walkway, adventure playground, market square, and lively dining, Devonport combines urban convenience with coastal charm.
As the entry point for the Spirit of Tasmania ferry, the city serves as a convenient travel and logistics hub, connecting residents to both mainland Australia and Tasmania’s rugged interior. Cultural life thrives here through venues like the Paranaple Arts Centre, regional gallery, maritime museum, and Aboriginal culture centre, adding depth to its relaxed yet progressive lifestyle.
Surrounded by fertile farmland and framed by ocean, river, and mountain views, Devonport captures the best of both country and community living.
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Devonport property market
Devonport, a bustling coastal city on Tasmania’s north coast, offers a strong mix of lifestyle appeal and investment potential. With its waterfront setting, transport connections, and vibrant local amenities, Devonport attracts both families and investors looking for a balance between regional charm and urban convenience.
The property market here remains active, with 49 rental listings and 97 properties currently for sale. Over the past year, median property prices have ranged from $485,000 for houses to $392,500 for units, making it one of the more affordable options among Tasmania’s larger centres.
Rental demand is consistent, with houses achieving an average of $450 per week and units around $350 per week. This translates to healthy rental yields of 5.0% for houses and 5.1% for units, giving investors steady returns.
In terms of long-term performance, Devonport has seen an annual compound growth rate of 4.3% for houses and 2.6% for units, reflecting stable and sustainable growth. Combined with its coastal lifestyle, ongoing development projects, and role as a key northern hub, Devonport continues to present opportunities for both homebuyers and investors.
Market Trends
View median property prices* in Devonport to get a better understanding of local market trends.
*Data based on sales within the 12 months to August 2025.