Giving property investors a a stable capital gain of 11.02% for the last year, New Town, 7008 is the 1280th highest performer in Australia in this respect.
While New Town,7008 ranked number 56th in TAS for increase in median house value (annualised) increase, it is ranked 26th over the last 5 years.
Our latest figures would indicate that property sellers in New Town are currently offering property investors an average price cut of -5.08% below the asking price at the moment.
A $437.5 per week rent on the median house gives suburb investors a gross yield of circa 4.30%, without taking into account capital value appreciation, which has been averaging out at 4.88%.
New Town is an average performer in TAS when comparing median price capital growth over the last year. New Town gave property investors a average capital gain figure when compared to the rest of the state, with 0.27%.
If we look at median property appreciation over just the last three months, New Town has given property investors a paper return of 2.89%. This puts Suburb as 15 on a list of fastest fasting appreciating suburbs in TAS
Sellers are offering property buyers an average discount of -1.95% to buyers in New Town at the moment, which is less than average for the rest of TAS.
Situated 3.09km from the CBD, New Town is one of Hobart localities in the postcode 7008.
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.