Property value increases in Newnham have tracked lower than the TAS average of 18.88% over the last 12 months.
If we look at median property appreciation over just the last three months, Newnham has given property investors a paper return of 2.36%. This puts Suburb as 116 on a list of fastest fasting appreciating suburbs in TAS
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.46% offered to property buyers. Sellers in Newnham itself are offering an average vendor discount of -3.90% to real estate investors.
Renters in Suburb are facing rents around $18850 per annum or $362.5 every week.
Newnham has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -3.57% to date .
A 41.73% growth in median value for property investors in Newnham,7248 puts this suburb at number 44th in terms of best performing suburbs in TAS
Renters in Suburb are facing rents around $14300 per annum or $275 every week.
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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%.