New Norfolk, 7140 ranked 100th in TAS when comparing growth in median property values or capital gain over the last 12 months. New Norfolk is one of 606 in our list for TAS
New Norfolk,7140 has offered an average of 9.76% return per annum in house price rises to property investors over the last three years.
The most recent median price for New Norfolk is $225000, with sellers offering an average of -3.85% off the asking price.
Property investors should expect to get $300 weekly from the median priced house in this suburb.
New Norfolk has had a quite poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of 6.49% to date .
New Norfolk,7140 was ranked 399 in Australia by increase in median property value over the quarter.
The most recent median price for New Norfolk is $205000, with sellers offering an average of -6.19% off the asking price.
Using the current median advertised rental of $222.5 and the average annual increase in value of a median property of -1.56%, investors should hope to achieve an overall return of 5.64%
A lively suburb situated on the River Derwent, New Norfolk is regarded as a must-see heritage destination in TasmaniaFull summary
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Housing supply nosedives
Median house price: $219,000
Stock on market: -58.1%
12-month growth: 6.8%
A lively suburb situated on the River Derwent, New Norfolk is regarded as a must-see heritage destination in Tasmania.
The suburb is considered the third-oldest settlement in the state, and contains many historical buildings, including one of the oldest pubs in the country, as well as St Matthews, acknowledged as the oldest Anglican church in Australia. A traditional village square decorates the suburb. New Norfolk has also always been known for the cultivation of hops, and this industry continues to thrive to this day.
Houses here are remarkably affordable at a median price of only $219,000. Despite the low values, New Norfolk is on a consistent growth trend. With housing stock on the market plummeting from 57 in June 2017 to just 25 in June 2018, demand is expected to increase even more, especially with the average rental yield being so high at 7%.Close