Giving property investors a an unimpressive capital gain of -4.34% for the last year, Norwood, 7250 is the 2511th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Norwood,7250 has racked up an average of -4.34% over the period. This ranks it number 1094th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Norwood should be aiming for at least -5.31% off the asking price, which is the average vendor discount being achieved at the moment.
Property investors should expect to get $380 weekly from the median priced house in this suburb.
Norwood has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -18.58% to date .
In the last year 10 properties changed hands in Norwood, which puts it as the 65th most active market in TAS when comparing the number of sales per suburb.
Property investors should expect to get $280 weekly from the median priced house in this suburb.
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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.