Suburb Profile Report for Newstead TAS (7250)

Newstead House: Median price $430,000, Annual capital growth 5.46%, Number of sales 98, Weekly median advertised rent $370

Newstead Unit: Median price $238,750, Annual capital growth 2.88%, Number of sales 23, Weekly median advertised rent $270

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

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

  • Expert Report
  • House Report
  • Unit Report

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:


October 2018

M
O

W
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Values fall sharply

Postcode: 7250

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

Metrics i HOUSE UNIT
$430,000 $238,750
3.61% -9.05%
13.46% -11.57%
5.46% 2.88%
$370 $270
98 23
4.47% 5.88%
46.6756756756757 26.75

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

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 4968
Median household income ($/weekly) 967
Median age of persons 41
Median housing loan repayment ($/monthly) 1463
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 652 13.1
    25-34 years 551 11.1
    35-44 years 647 13.0
    45-54 years 657 13.2
    55-64 years 565 11.4
    Others 1896 38.2
    Age Group
    Census Count Percent(%)
    Registered Married 1704 48.3
    Not Married 1531 43.4
    Defacto Relationship 294 8.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4148 86.7
    Indonesia 33 0.7
    Papua New Guinea 40 0.8
    United Kingdom 254 5.3
    Other 93 1.9
    Others 214 4.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 46 1.0
    Christianity 3105 67.3
    Hinduism 23 0.5
    Other Religious Groups 20 0.4
    No Religion 1413 30.6
    Others 7 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 170 9.2
    $400-$599 272 14.7
    $600-$799 202 10.9
    $1,000-$1,249 176 9.5
    $1,500-$1,999 191 10.4
    Others 834 45.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1591 40.9
    Employed, worked full-time 1305 33.5
    Employed, worked part-time 754 19.4
    Unemployed, looking for work 126 3.2
    Employed, away from work 115 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 285 13.1
    Professionals 607 27.9
    Technicians & trades workers 256 11.8
    Clerical & administrative workers 267 12.3
    Sales 247 11.4
    Others 514 23.6
    Occupation
    Census Count Percent(%)
    Pre-school 43 3.6
    Infants/Primary 469 38.8
    Secondary 334 27.6
    Technical or Further Educational Institution 134 11.1
    University or other Tertiary Institutions 198 16.4
    Others 32 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3903 86.2
    Flat, unit or apartment 389 8.6
    Semi-detached, row or terrace house, townhouse 228 5.0
    House or flat attached to a shop, office 6 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 713 36.6
    Being purchased 620 31.8
    Rented 596 30.6
    Other tenure type 20 1.0
    Tenure Type
Census 2011, ABS
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