Suburb Profile Report for Newnham TAS (7248)

Newnham House: Median price $263,000, Annual capital growth 1.93%, Number of sales 118, Weekly median advertised rent $310

Newnham Unit: Median price $185,000, Annual capital growth 1.15%, Number of sales 48, Weekly median advertised rent $240

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

Property investors who have had real estate in Newnham, 7248 should be relatively pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 9.58%

Comparing Newnham,7248 ‘s 5year and quarterly average capital gain offered to property investors, it performed the same across the longer period

Property investors looking for a bargain in Newnham should be aiming for at least -5.36% off the asking price, which is the average vendor discount being achieved at the moment.

Newnham, 7248’s gross rental yield is 6.13%

Property value increases in Newnham have tracked just lower than the TAS average of 11.63% over the last 12 months.

Across a shorter period, Newnham, 7248 has seen a median price increase of 0.54% over the last quarter.

Property buyers and investors in Newnham 7248 should be seeing an average reduction in asking price of around -3.49% . This means that Newnham is holding prices well when compared to other suburbs in TAS.

Newnham is 3rd on a list of best yielding suburbs for rents in TAS with a 6.75% return

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December 2017

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On the eastern edge of the Tamar River in Launceston, Newnham is home to the University of Tasmania Launceston Campus, and the Australian Maritime CollegeFull summary

Limited stock could create bargains

Postcode: 7248

Median unit price: $175,000

Stock on market: 55.8%

12-month growth: -8.1%

On the eastern edge of the Tamar River in Launceston, Newnham is home to the University of Tasmania Launceston Campus, and the Australian Maritime College. 

Situated 6km from the CBD, the suburb has seen stock on the market decrease by 25.3% over the past twelve months, with just 51 houses and 8 units listed for sale this year. Units are currently spending around 119 days on the market, and have dropped 8.1% in value since this time last year, to a median of $175,000. 

The median house price is currently $239,000 down 6.3% in twelve months, and homes are listed for an average of 94 days prior to sale.  Homes for sale in Newnham attract less than half the number of visitors than the Tassie average, which, while frustrating for sellers, could be an opportunity for savvy investors to score a bargain – particularly given that houses are currently given landlords yields of 6.3%, while units are reaching 6.8%.

Close
Metrics i HOUSE UNIT
$263,000 $185,000
3.14% 0.54%
9.58% 2.78%
1.93% 1.15%
$310 $240
118 48
6.13% 6.75%
59.11 79.25

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
Find a mortgage broker in Newnham TAS
Demographics
Total population 5930
Median household income ($/weekly) 865
Median age of persons 34
Median housing loan repayment ($/monthly) 1300
Average household size 2.4
  • Census Count Percent(%)
    20-24 years 679 11.5
    25-34 years 792 13.4
    35-44 years 677 11.4
    45-54 years 693 11.7
    55-64 years 681 11.5
    Others 2408 40.6
    Age Group
    Census Count Percent(%)
    Registered Married 1909 45.6
    Not Married 1854 44.3
    Defacto Relationship 422 10.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 4774 85.1
    Croatia 69 1.2
    Malta 67 1.2
    United Kingdom 155 2.8
    Other 240 4.3
    Others 306 5.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 68 1.3
    Christianity 3632 68.0
    Hinduism 60 1.1
    Islam 60 1.1
    No Religion 1506 28.2
    Others 18 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 305 15.5
    $600-$799 263 13.4
    $800-$999 197 10.0
    $1,000-$1,249 230 11.7
    $1,500-$1,999 207 10.5
    Others 764 38.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1968 42.0
    Employed, worked full-time 1395 29.8
    Employed, worked part-time 900 19.2
    Unemployed, looking for work 240 5.1
    Employed, away from work 181 3.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 327 13.2
    Technicians & trades workers 388 15.7
    Clerical & administrative workers 317 12.8
    Sales 348 14.1
    Labourers 344 13.9
    Others 749 30.3
    Occupation
    Census Count Percent(%)
    Pre-school 56 3.5
    Infants/Primary 408 25.2
    Secondary 312 19.2
    Technical or Further Educational Institution 185 11.4
    University or other Tertiary Institutions 625 38.6
    Others 35 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4607 87.7
    Semi-detached, row or terrace house, townhouse 371 7.1
    Flat, unit or apartment 264 5.0
    House or flat attached to a shop, office 11 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 740 34.8
    Fully owned 704 33.1
    Being purchased 673 31.6
    Other tenure type 10 0.5
    Tenure Type
Census 2011, ABS
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