With a capital gain of 18.36% for the last 12 months, New Norfolk, 7140 has performed for property investments than its average annual 3.45% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, New Norfolk comes in at number 117th in TAS.
At number 112th of TAS’s most discounted properties, New Norfolk is in the middle of the state/territory when listing in order of most discounted to least.
TAS has seen average median house prices change by 8.60% which means that New Norfolk, 7140 has done well for property investors by showing a capital gain of 12.50% over the last year
Comparing New Norfolk,7140 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for New Norfolk is $225000, with sellers offering an average of -1.28% off the asking price.
Residents and property investors in New Norfolk have been waiting around 59.62 days to sell a property.
A $270 per week rent on the median house gives suburb investors a gross yield of circa 6.24%, without taking into account capital value appreciation, which has been averaging out at 36.63%.
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