Suburb Profile Report for New Town TAS (7008)

New Town House: Median price $484,500, Annual capital growth 4.19%, Number of sales 76, Weekly median advertised rent $433

New Town Unit: Median price $253,000, Annual capital growth 3.83%, Number of sales 38, Weekly median advertised rent $280

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in New Town, 7008 have given investors a capital gain of 5.33%. This compares averagely with the 4.21% for TAS as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in New Town has increased when compared to the 5 year average annual rate.

The most recent median price for New Town is $484500, with sellers offering an average of -5.40% off the asking price.

Often selling an investment property can take time, and in New Town the average time real estate has been on the market is 30.55 days.

Renters in Suburb are facing rents around $5190 per annum or $432.5 every week.

New Town has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -7.16% to date .

If we look at median property appreciation over just the last three months, New Town has given property investors a paper return of -4.53%. This puts Suburb as 48 on a list of fastest fasting appreciating suburbs in TAS

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.46% offered to property buyers. Sellers in New Town itself are offering an average vendor discount of -4.65% to real estate investors.

Using the current median advertised rental of $280 and the average annual increase in value of a median property of 3.83%, investors should hope to achieve an overall return of 5.75%

YIP MAG Information supplied by:

YIP MAG
June 2015

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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.Full summary

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.

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.

Close
Metrics i HOUSE UNIT
$484,500 $253,000
-0.10% -4.53%
5.33% -7.16%
4.19% 3.83%
$433 $280
76 38
4.64% 5.75%
30.55 49.54

Source: CoreLogic

DSR Score for property investment : Very good (U), Good (H)
Find a mortgage broker in New Town TAS
Demographics
Total population 5968
Median household income ($/weekly) 1038
Median age of persons 41
Median housing loan repayment ($/monthly) 1625
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 656 11.0
    25-34 years 706 11.8
    35-44 years 880 14.7
    45-54 years 876 14.7
    55-64 years 722 12.1
    Others 2129 35.7
    Age Group
    Census Count Percent(%)
    Not Married 2111 50.1
    Registered Married 1685 40.0
    Defacto Relationship 421 10.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 4657 82.2
    Indonesia 84 1.5
    Japan 56 1.0
    United Kingdom 249 4.4
    Other 220 3.9
    Others 402 7.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 91 1.7
    Christianity 3265 60.0
    Hinduism 65 1.2
    Islam 42 0.8
    No Religion 1931 35.5
    Others 48 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 244 11.0
    $400-$599 250 11.3
    $600-$799 213 9.6
    $1,500-$1,999 251 11.3
    $2,000-$2,499 195 8.8
    Others 1068 48.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1827 38.3
    Employed, worked full-time 1625 34.0
    Employed, worked part-time 985 20.6
    Unemployed, looking for work 182 3.8
    Employed, away from work 156 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 370 13.4
    Professionals 861 31.1
    Technicians & trades workers 315 11.4
    Community & personal service workers 316 11.4
    Clerical & administrative workers 390 14.1
    Others 515 18.6
    Occupation
    Census Count Percent(%)
    Infants/Primary 437 31.9
    Secondary 350 25.5
    Technical or Further Educational Institution 163 11.9
    University or other Tertiary Institutions 345 25.2
    Other type of educational institution 45 3.3
    Others 30 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4017 76.9
    Flat, unit or apartment 886 17.0
    Semi-detached, row or terrace house, townhouse 285 5.5
    House or flat attached to a shop, office 36 0.7
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 939 39.5
    Being purchased 718 30.2
    Fully owned 699 29.4
    Other tenure type 20 0.8
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals