Suburb Profile Report for New Town TAS (7008)

New Town House: Median price $650,000, Annual capital growth 6.11%, Number of sales 71, Weekly median advertised rent $510

New Town Unit: Median price $327,500, Annual capital growth 4.32%, Number of sales 39, Weekly median advertised rent $340

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

New Town has had a pretty good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 13.94% to date .

New Town,7008 was ranked 526 in Australia by increase in median property value over the quarter.

At number 89th of TAS’s most discounted properties, New Town is in the TOP 20% of the state/territory when listing in order of most discounted to least.

Residents and property investors in New Town have been waiting around 20.5 days to sell a property.

Investment property in New Town has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.26%

New Town,7008 has offered an average of 9.26% return per annum in house price rises to property investors over the last three years.

Situated 3.11km from the CBD, New Town is one of Hobart (C) localities in the postcode 7008.

Information supplied by:


September 2017

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Contrary to its name, New Town is actually one of the oldest suburbs in Hobart, which is just 4km away. This proximity to the CBD is a significant factor in the tightening of vacancies in the suburb.Full summary

Vacancies down in affordable suburb

Postcode: 7008

Median unit price: $275,000

Vacancy rate: 1.06%

Three-year growth: 19.6%

Contrary to its name, New Town is actually one of the oldest suburbs in Hobart, which is just 4km away. This proximity to the CBD is a significant factor in the tightening of vacancies in the suburb.

New Town’s strong performance over the past few years is another reason for the demand. The unit market has been growing consistently over the recent five-year period, with the June 2017 quarter alone recording 7.4% growth. Such properties spend only a short time on sale before getting snapped up at low discount rates, likely because investors are drawn to the high potential yield of 5.5%.

The suburb is populated with Federation-style homes. New Town Primary School, like its home, is over a century old. Centro New Town Plaza covers residents’ shopping needs. New Town Road, which is connected to Hobart’s Elizabeth Street, links the capital to Glenorchy. 

Close
Metrics i HOUSE UNIT
$650,000 $327,500
4.84% -7.09%
13.94% 9.26%
6.11% 4.32%
$510 $340
71 39
4.08% 5.40%
20.5 28

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 : Good (H), Good (U)
Find a mortgage broker in New Town TAS
Demographics
Total population 5968
Median household income ($/weekly) 1038
Median age of persons 41
Median housing loan repayment ($/monthly) 1625
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 656 11.0
    25-34 years 706 11.8
    35-44 years 880 14.7
    45-54 years 876 14.7
    55-64 years 722 12.1
    Others 2129 35.7
    Age Group
    Census Count Percent(%)
    Not Married 2111 50.1
    Registered Married 1685 40.0
    Defacto Relationship 421 10.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 4657 82.2
    Indonesia 84 1.5
    Japan 56 1.0
    United Kingdom 249 4.4
    Other 220 3.9
    Others 402 7.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 91 1.7
    Christianity 3265 60.0
    Hinduism 65 1.2
    Islam 42 0.8
    No Religion 1931 35.5
    Others 48 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 244 11.0
    $400-$599 250 11.3
    $600-$799 213 9.6
    $1,500-$1,999 251 11.3
    $2,000-$2,499 195 8.8
    Others 1068 48.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1827 38.3
    Employed, worked full-time 1625 34.0
    Employed, worked part-time 985 20.6
    Unemployed, looking for work 182 3.8
    Employed, away from work 156 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 370 13.4
    Professionals 861 31.1
    Technicians & trades workers 315 11.4
    Community & personal service workers 316 11.4
    Clerical & administrative workers 390 14.1
    Others 515 18.6
    Occupation
    Census Count Percent(%)
    Infants/Primary 437 31.9
    Secondary 350 25.5
    Technical or Further Educational Institution 163 11.9
    University or other Tertiary Institutions 345 25.2
    Other type of educational institution 45 3.3
    Others 30 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4017 76.9
    Flat, unit or apartment 886 17.0
    Semi-detached, row or terrace house, townhouse 285 5.5
    House or flat attached to a shop, office 36 0.7
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 939 39.5
    Being purchased 718 30.2
    Fully owned 699 29.4
    Other tenure type 20 0.8
    Tenure Type
Census 2011, ABS
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