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%