Suburb Profile Report for Norwood TAS (7250)

Norwood House: Median price $377,500, Annual capital growth 2.39%, Number of sales 70, Weekly median advertised rent $350

Norwood Unit: Median price $250,000, Annual capital growth N/A, Number of sales 12, Weekly median advertised rent $255

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

Norwood has had a pretty average year for property investment returns compared to the rest of TAS, giving investors a capital gain of 10.22% to date .

When looking at the potential capital gains offered to property investors over the last 3 years, Norwood comes in at number 85th in TAS.

Sellers are offering property buyers an average discount of -4.92% to buyers in Norwood at the moment, which is less than average for the rest of TAS.

The TAS suburb of Norwood, 7250 is in the Launceston local government area.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Norwood has increased when compared to the 5 year average annual rate.

Our latest figures would indicate that property sellers in Norwood are currently offering property investors an average price cut of -5.63% below the asking price at the moment.

With the median price for a house in Norwood being $250000 and the advertised rent reaching $255 the gross rental yield for property investors calculates out to be 5.30%

Information supplied by:


April 2018

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House stock fell from 30 to 17 in the 12 months leading up to January 2018, which could spur demand in the suburb of NorwoodFull summary

Stock tumbles in affordable suburb

Postcode: 7250

Median house price: $347,750

Stock on market: -39.4%

12-month growth: 9.5%

House stock fell from 30 to 17 in the 12 months leading up to January 2018, which could spur demand in the suburb of Norwood.

Situated just about 4km from the city of Launceston, Norwood has been recording growth since 2013 – even then, house values remain low at a median of under $350,000. Thus, such properties only stay on the market for an average of 60 days. Rental yields are also high at an average of 5%, which could encourage investment activity.

The suburb contains many older-style family homes alongside modern dwellings. It is also well-stocked with a supermarket and two schools, namely, Norwood Primary and Queechy High. Norwood is in close proximity to tourist spots like the Cataract Gorge, as well as several parks.

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Metrics i HOUSE UNIT
$377,500 $250,000
1.75% N/A
10.22% N/A
2.39% N/A
$350 $255
70 12
4.82% 5.30%
46.55 41.54

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 3794
Median household income ($/weekly) 1112
Median age of persons 47
Median housing loan repayment ($/monthly) 1473
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 428 11.3
    35-44 years 450 11.9
    45-54 years 519 13.7
    55-64 years 542 14.3
    65-74 years 407 10.7
    Others 1449 38.2
    Age Group
    Census Count Percent(%)
    Registered Married 1531 55.6
    Not Married 1033 37.5
    Defacto Relationship 189 6.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3253 88.9
    New Zealand 33 0.9
    Papua New Guinea 46 1.3
    United Kingdom 156 4.3
    Other 35 1.0
    Others 136 3.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 7 0.2
    Christianity 2676 76.5
    Judaism 9 0.3
    Other Religious Groups 10 0.3
    No Religion 790 22.6
    Others 4 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 166 12.8
    $600-$799 146 11.3
    $800-$999 134 10.3
    $1,500-$1,999 175 13.5
    $2,000-$2,499 122 9.4
    Others 553 42.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1260 40.9
    Employed, worked full-time 1022 33.2
    Employed, worked part-time 622 20.2
    Employed, away from work 99 3.2
    Unemployed, looking for work 79 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 207 11.9
    Professionals 386 22.1
    Technicians & trades workers 225 12.9
    Clerical & administrative workers 311 17.8
    Sales 196 11.2
    Others 419 24.0
    Occupation
    Census Count Percent(%)
    Pre-school 26 3.3
    Infants/Primary 289 37.0
    Secondary 282 36.1
    Technical or Further Educational Institution 70 9.0
    University or other Tertiary Institutions 101 12.9
    Others 14 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3199 93.4
    Flat, unit or apartment 168 4.9
    Semi-detached, row or terrace house, townhouse 56 1.6
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 649 46.6
    Being purchased 476 34.2
    Rented 240 17.2
    Other tenure type 27 1.9
    Tenure Type
Census 2011, ABS
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