With a capital gain of 9.98% for the last 12 months, Newnham, 7248 has performed for property investments than its average annual 1.83% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Newnham,7248 has racked up an average of 9.98% over the period. This ranks it number 1895th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Newnham is offering property investors an average of -6.12. This rate of discount on properties puts Suburb at number 117th in terms of most discounted suburbs in TAS
Often selling an investment property can take time, and in Newnham the average time real estate has been on the market is 48.02 days.
Property investors should expect to get $310 weekly from the median priced house in this suburb.
Newnham, 7248 ranked 9th in TAS when comparing growth in median property values or capital gain over the last 12 months. Newnham is one of 606 in our list for TAS
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Newnham has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -2.96% to buyers in Newnham at the moment, which is less than average for the rest of TAS.
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