Suburb Profile Report for New Norfolk TAS (7140)

New Norfolk House: Median price $202,500, Annual capital growth 1.91%, Number of sales 102, Weekly median advertised rent $270

New Norfolk Unit: Median price $168,500, Annual capital growth -1.83%, Number of sales 10, Weekly median advertised rent $205

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in New Norfolk have tracked just lower than the TAS average of 5.57% over the last 12 months.

Across a shorter period, New Norfolk, 7140 has seen a median price increase of 1.25% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that New Norfolk is offering property investors an average of -6.89. This rate of discount on properties puts Suburb at number 92th in terms of most discounted suburbs in TAS

With the median price for a house in New Norfolk being $202500 and the advertised rent reaching $270 the gross rental yield for property investors calculates out to be 6.93%

Property investors who have had real estate in New Norfolk, 7140 should be unhappy with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -13.03%

A -22.71% growth in median value for property investors in New Norfolk,7140 puts this suburb at number 62th in terms of best performing suburbs in TAS

Property investors looking for a bargain in New Norfolk should be aiming for at least -6.51% off the asking price, which is the average vendor discount being achieved at the moment.

Using the current median advertised rental of $205 and the average annual increase in value of a median property of -1.83%, investors should hope to achieve an overall return of 6.33%

Metrics i HOUSE UNIT
$202,500 $168,500
1.25% -13.59%
-1.22% -13.03%
1.91% -1.83%
$270 $205
102 10
6.93% 6.33%
96.98 104.45

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
Find a mortgage broker in New Norfolk TAS
Demographics
Total population 5242
Median household income ($/weekly) 761
Median age of persons 41
Median housing loan repayment ($/monthly) 1118
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 677 12.9
    25-34 years 552 10.5
    35-44 years 601 11.5
    45-54 years 763 14.6
    55-64 years 671 12.8
    Others 1978 37.7
    Age Group
    Census Count Percent(%)
    Not Married 1648 43.2
    Registered Married 1621 42.5
    Defacto Relationship 542 14.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 4676 93.4
    Greece 15 0.3
    Papua New Guinea 39 0.8
    United Kingdom 178 3.6
    Other 35 0.7
    Others 61 1.2
    Country of Birth
    Census Count Percent(%)
    Christianity 3550 74.8
    No Religion 1171 24.7
    Other Religious Groups 14 0.3
    Buddhism 9 0.2
    Islam 3 0.1
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 256 13.8
    $400-$599 327 17.7
    $600-$799 235 12.7
    $800-$999 193 10.4
    $1,000-$1,249 189 10.2
    Others 652 35.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1895 47.3
    Employed, worked full-time 1080 26.9
    Employed, worked part-time 670 16.7
    Unemployed, looking for work 215 5.4
    Employed, away from work 150 3.7
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 335 17.6
    Community & personal service workers 300 15.8
    Clerical & administrative workers 212 11.2
    Sales 209 11.0
    Labourers 326 17.2
    Others 517 27.2
    Occupation
    Census Count Percent(%)
    Pre-school 53 5.4
    Infants/Primary 445 45.1
    Secondary 290 29.4
    Technical or Further Educational Institution 122 12.4
    University or other Tertiary Institutions 60 6.1
    Others 16 1.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4628 94.1
    Flat, unit or apartment 199 4.0
    Semi-detached, row or terrace house, townhouse 60 1.2
    House or flat attached to a shop, office 31 0.6
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 678 34.1
    Fully owned 668 33.6
    Rented 631 31.7
    Other tenure type 12 0.6
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals