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
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
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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