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%
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
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Stock tumbles in affordable suburb
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.Close