Suburb Profile Report for Newnham TAS (7248)

Newnham House: Median price $292,500, Annual capital growth 2.19%, Number of sales 124, Weekly median advertised rent $320

Newnham Unit: Median price $195,000, Annual capital growth 3.52%, Number of sales 34, Weekly median advertised rent $250

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

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Over the last year, property investments in Newnham, 7248 have given investors a capital gain of 8.33%. This compares favourably with the 6.96% for TAS as a whole.

Over the longer term, Newnham has seen property prices show investors a 17.00% return over the last 3 years. This is worse than over the last 12 months

Property investors looking for a bargain in Newnham should be aiming for at least -6.07% off the asking price, which is the average vendor discount being achieved at the moment.

With the median price for a house in Newnham being $292500 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 5.69%

Property investors who have had real estate in Newnham, 7248 should be unhappy with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -30.36%

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.

Newnham7248 is located in TAS which offers an average discount of -5.68% to property investors. Newnham itself is showing figures that indicate -5.46% is the average achievable by property buyers investing in the suburb.

Information supplied by:


December 2017

M
O

W
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Limited stock could create bargains

Postcode: 7248

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%.

Metrics i HOUSE UNIT
$292,500 $195,000
0.86% -15.22%
8.33% -30.36%
2.19% 3.52%
$320 $250
124 34
5.69% 6.67%
58.6185567010309 64.3333333333333

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Very good (U)
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Demographics
Total population 5930
Median household income ($/weekly) 865
Median age of persons 34
Median housing loan repayment ($/monthly) 1300
Average household size 2.4
  • Census Count Percent(%)
    20-24 years 679 11.5
    25-34 years 792 13.4
    35-44 years 677 11.4
    45-54 years 693 11.7
    55-64 years 681 11.5
    Others 2408 40.6
    Age Group
    Census Count Percent(%)
    Registered Married 1909 45.6
    Not Married 1854 44.3
    Defacto Relationship 422 10.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 4774 85.1
    Croatia 69 1.2
    Malta 67 1.2
    United Kingdom 155 2.8
    Other 240 4.3
    Others 306 5.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 68 1.3
    Christianity 3632 68.0
    Hinduism 60 1.1
    Islam 60 1.1
    No Religion 1506 28.2
    Others 18 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 305 15.5
    $600-$799 263 13.4
    $800-$999 197 10.0
    $1,000-$1,249 230 11.7
    $1,500-$1,999 207 10.5
    Others 764 38.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1968 42.0
    Employed, worked full-time 1395 29.8
    Employed, worked part-time 900 19.2
    Unemployed, looking for work 240 5.1
    Employed, away from work 181 3.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 327 13.2
    Technicians & trades workers 388 15.7
    Clerical & administrative workers 317 12.8
    Sales 348 14.1
    Labourers 344 13.9
    Others 749 30.3
    Occupation
    Census Count Percent(%)
    Pre-school 56 3.5
    Infants/Primary 408 25.2
    Secondary 312 19.2
    Technical or Further Educational Institution 185 11.4
    University or other Tertiary Institutions 625 38.6
    Others 35 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4607 87.7
    Semi-detached, row or terrace house, townhouse 371 7.1
    Flat, unit or apartment 264 5.0
    House or flat attached to a shop, office 11 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 740 34.8
    Fully owned 704 33.1
    Being purchased 673 31.6
    Other tenure type 10 0.5
    Tenure Type
Census 2011, ABS
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