Property investors who have had real estate in New Town, 7008 should be relatively pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 10.70%
When looking at the potential capital gains offered to property investors over the last 3 years, New Town comes in at number 22th in TAS.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.05% offered to property buyers. Sellers in New Town itself are offering an average vendor discount of -5.97% to real estate investors.
New Town, 7008’s gross rental yield is 4.37%
TAS has seen average median house prices change by 5.89% which means that New Town, 7008 has done well for property investors by showing a capital gain of 7.59% over the last year
The five-year average increase in median property values for New Town,7008 has given property investors a potential capital gain of 38.45% across each of those five years.
The most recent median price for New Town is $292120, with sellers offering an average of -2.35% off the asking price.
Renters in Suburb are facing rents around $3600 per annum or $300 every week.
New Town may be one of Hobart’s oldest suburbs, but this does not mean it’s full of buildings well past their use-by date.Full summary
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New Town may be one of Hobart’s oldest suburbs, but this does not mean it’s full of buildings well past their use-by date.Close
In fact, old-town charm mixed with the new that comes with renovation makes this suburb highly desirable.
The colonial, Georgian, Federation and art deco architecture is a major drawcard.
Withstock falling by -41.7% and listed properties receiving an average of 645 visits, you had better get in quick before they all disappear.
New Town is clearly a popular option for young and established families.
There are four schools, two of which are the only single-sex schools in Tas – Ogilvie High School for girls and New Town High School for boys.
Even the New Town primary school has something to brag about, being over 100 years old.
Centro New Town Plaza is an accessible commercial hub, with supermarkets, restaurants and boutique shops.
Being only 4km from the Hobart CBD is also a signi cant bonus. A drive to town takes under five minutes, and bus routes criss-cross the suburb.
Popular areas include Park Street and New Town Road, as they o er easy access to local amenities.