Over the last year, property investments in Newstead, 7250 have given investors a capital gain of 13.46%. This compares favourably with the 7.30% for TAS as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Newstead comes in at number 70th in TAS.
Our latest figures would indicate that property sellers in Newstead are currently offering property investors an average price cut of -5.85% below the asking price at the moment.
At number 235 in a list of fastest selling suburbs, Newstead is in the TOP 10% of suburbs in Australia with an average of days on market 46.6757 for properties listed there.
Advertised rents are around the $370 mark per week – giving a return of 4.47% based on the median price in Suburb
Property value increases in Newstead have tracked lower than the TAS average of 2.66% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Newstead comes in at number 41th in TAS.
A $270 per week rent on the median house gives suburb investors a gross yield of circa 5.88%, without taking into account capital value appreciation, which has been averaging out at 2.88%.
Information supplied by:
Values fall sharply
Median unit price: $244,000
Three-year growth: 26.4%
Rental yield: 4.7%
A close neighbour of Launceston, Newstead is benefiting from the city’s increasing prominence among homebuyers. It is populated by many schools, such as Newstead College, Newstead Christian School and Launceston Preparatory School. Thus, it is perfect for growing families looking for education options. It is also characterised by its leafy streets, character homes, restaurants, pubs and shops, including the Newstead Shopping Complex. A medical centre is located here as well.
As with most of Tasmania, Newstead enjoys low prices. However, over the July 2017-2018 period, unit values fell considerably by 7.9%, causing the median price to fall below $250,000. This marks the breaking of the strong positive growth trend enjoyed by the suburb since five years ago.
Nonetheless, Newstead still offers good returns on rent – 4.7% yield off average rent rates of $220 per week