Suburb Profile Report for Norwood TAS (7250)

Norwood House: Median price $372,000, Annual capital growth 2.26%, Number of sales 67, Weekly median advertised rent $380

Norwood Unit: Median price $226,180, Annual capital growth -0.12%, Number of sales 11, Weekly median advertised rent $280

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

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

At number 1359th in the list of Australian suburbs ordered by increase in median house value over the last year, Norwood, 7250 is in the top 40% with a property value increase of 1.92% recorded in median house prices.

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.

Sellers are offering property buyers an average discount of -5.58% to buyers in Norwood at the moment, which is less than average for the rest of TAS.

At number 173 in a list of fastest selling suburbs, Norwood is in the TOP 10% of suburbs in Australia with an average of days on market 44.3962 for properties listed there.

Renters in Suburb are facing rents around $19760 per annum or $380 every week.

Property value increases in Norwood have tracked lower than the TAS average of 5.31% over the last 12 months.

Norwood,7250 was ranked 545 in Australia by increase in median property value over the quarter.

Information supplied by:


April 2018

M
O

W
E

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.

Metrics i HOUSE UNIT
$372,000 $226,180
1.85% 1.39%
1.92% -22.81%
2.26% -0.12%
$380 $280
67 11
5.31% 6.44%
44.3962264150943 N/A

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Good (U)
Find a mortgage broker in Norwood TAS
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
Chart Table