Newly proposed lots already up for grabs for $198,000

A suburb that only has 10 properties for sale could be in line for a boom with a major subdivision proposed. Here’s what’s planned.

Waverley 20 lot subdivision proposed

An investment company is looking to create 20 residential lots in a semirural region in North Tasmania.

The land was bought for $2 million in 2024 and is just off the Tasman Highway backing into vacant land.

The suburb Waverley is located five kilometres from Launceston central business area so while an ideal location, there are just 10 properties on the market and just one for rent, according to realestate.com as of January 14.

Most homes sold were 3-bedroom houses for the median price of $393,000.

City Views Estate is already looking for buyers for the lots with the price starting at $198,000.

This plan will take a two lot subdivision off 32-38 Waverley Street and break it into 20 lots.

The plans submitted to City of Launceston council include a design of the lots which include sizes from 1829 metres squared to 458 metres squared.

The planning application includes a new road to be built for the residential lots.