Suburb Profile Report for Somerset TAS (7322)

Somerset House: Median price $260,000, Annual capital growth 3.94%, Number of sales 79, Weekly median advertised rent $280

Somerset Unit: Median price $180,000, Annual capital growth 6.52%, Number of sales 11, Weekly median advertised rent $220

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Somerset have tracked just higher than the TAS average of 7.09% over the last 12 months.

Over the longer term, Somerset has seen property prices show investors a 15.30% return over the last 3 years. This is an improvement over the last 12 months

At number 35th of TAS’s most discounted properties, Somerset is in the bottom 30% of the state/territory when listing in order of most discounted to least.

On average over the past year, suburb has had 6.58 sales per month, which equates to 79 per year.

With the median price for a house in Somerset being $260000 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 5.60%

Somerset has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -30.56% to date .

Across a shorter period, Somerset, 7322 has seen a median price increase of -1.10% over the last quarter.

Advertised rents are around the $220 mark per week – giving a return of 6.36% based on the median price in Suburb

Metrics i HOUSE UNIT
$260,000 $180,000
0.00% -1.10%
15.56% -30.56%
3.94% 6.52%
$280 $220
79 11
5.60% 6.36%
90.74 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (U), Good (H)
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Demographics
Total population 3974
Median household income ($/weekly) 796
Median age of persons 42
Median housing loan repayment ($/monthly) 1185
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 494 12.4
    35-44 years 475 12.0
    45-54 years 574 14.4
    55-64 years 534 13.4
    65-74 years 425 10.7
    Others 1472 37.0
    Age Group
    Census Count Percent(%)
    Registered Married 1397 48.8
    Not Married 1153 40.3
    Defacto Relationship 313 10.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3503 92.7
    New Zealand 16 0.4
    Papua New Guinea 24 0.6
    United Kingdom 149 3.9
    Other 27 0.7
    Others 59 1.6
    Country of Birth
    Census Count Percent(%)
    Christianity 2341 65.8
    No Religion 1191 33.5
    Buddhism 16 0.4
    Other Religious Groups 12 0.3
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 187 13.4
    $400-$599 219 15.6
    $600-$799 187 13.4
    $800-$999 138 9.9
    $1,500-$1,999 142 10.1
    Others 527 37.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1355 43.6
    Employed, worked full-time 1000 32.2
    Employed, worked part-time 512 16.5
    Unemployed, looking for work 126 4.1
    Employed, away from work 113 3.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 221 13.6
    Technicians & trades workers 308 19.0
    Community & personal service workers 189 11.7
    Clerical & administrative workers 209 12.9
    Labourers 205 12.6
    Others 490 30.2
    Occupation
    Census Count Percent(%)
    Pre-school 22 2.8
    Infants/Primary 325 41.7
    Secondary 243 31.2
    Technical or Further Educational Institution 113 14.5
    University or other Tertiary Institutions 72 9.2
    Others 5 0.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3333 90.9
    Flat, unit or apartment 193 5.3
    Semi-detached, row or terrace house, townhouse 83 2.3
    Caravan, cabin, houseboat 51 1.4
    House or flat attached to a shop, office 5 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 629 41.0
    Being purchased 490 31.9
    Rented 406 26.4
    Other tenure type 11 0.7
    Tenure Type
Census 2011, ABS
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