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 9.79%
Across a shorter period, Newnham, 7248 has seen a median price increase of 3.20% over the last quarter.
Property investors looking for a bargain in Newnham should be aiming for at least -5.44% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Newnham have been waiting around 62.49 days to sell a property.
Situated 165.45km from the CBD, Newnham is one of Launceston localities in the postcode 7248.
Over the last year, property investments in Newnham, 7248 have given investors a capital gain of 1.25%. This compares badly with the 10.07% for TAS as a whole.
If we look at median property appreciation over just the last three months, Newnham has given property investors a paper return of 5.04%. This puts Suburb as 12 on a list of fastest fasting appreciating suburbs in TAS
Vendor discounting in Newnham is giving property investors an average Vendor Discount of around -4.51%. This puts suburb at number 28th in TAS when ranking the most discounted suburbs.
On average over the past year, suburb has had 3.33 sales per month, which equates to 40 per year.
Advertised rents are around the $237.5 mark per week – giving a return of 6.78% based on the median price in Suburb
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
Information supplied by:
Limited stock could create bargains
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