TAS has seen average median house prices change by 12.21% which means that Newnham, 7248 has done well for property investors by showing a capital gain of 9.89% over the last year
Across a shorter period, Newnham, 7248 has seen a median price increase of 2.35% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Newnham is offering property investors an average of -5.46. This rate of discount on properties puts Suburb at number 83th in terms of most discounted suburbs in TAS
Newnham, 7248’s gross rental yield is 5.98%
Investment property in Newnham has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.78%
Taking the average capital gain, or increase in median house value, Newnham,7248 has racked up an average of 2.78% over the period. This ranks it number 1476th in the whole country for real estate investors looking at median house price increases.
Newnham, 7248 is offering TAS ‘s 32th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this TAS.
Situated 156.49km from the CBD, Newnham is one of Launceston localities in the postcode 7248.
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