If you compare the increase in value of investment property in New Town, 7008 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 7.80%.
Taking the average capital gain, or increase in median house value, New Town,7008 has racked up an average of 7.80% over the period. This ranks it number 1502th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in New Town 7008 should be seeing an average reduction in asking price of around -5.52% . This means that New Town is holding prices well when compared to other suburbs in TAS.
Advertised rents are around the $440 mark per week – giving a return of 4.69% based on the median price in Suburb
Investment property in New Town has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.49%
Comparing New Town,7008 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
Property buyers and investors in New Town 7008 should be seeing an average reduction in asking price of around -4.36% . This means that New Town is holding prices well when compared to other suburbs in TAS.
On average over the past year, suburb has had 3.25 sales per month, which equates to 39 per year.
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.