Suburb Profile Report for New Norfolk TAS (7140)

New Norfolk House: Median price $245,000, Annual capital growth 3.45%, Number of sales 145, Weekly median advertised rent $310

New Norfolk Unit: Median price $225,000, Annual capital growth 36.63%, Number of sales 31, Weekly median advertised rent $270

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

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%.

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September 2018

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A lively suburb situated on the River Derwent, New Norfolk is regarded as a must-see heritage destination in TasmaniaFull summary

Housing supply nosedives

Postcode: 7140

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
Metrics i HOUSE UNIT
$245,000 $225,000
5.60% 4.65%
18.36% 12.50%
3.45% 36.63%
$310 $270
145 31
6.58% 6.24%
33.63 59.62

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Very good (H), Good (U)
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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
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