Suburb Profile Report for Norwood TAS (7250)

Norwood House: Median price $363,500, Annual capital growth 2.60%, Number of sales 70, Weekly median advertised rent $380

Norwood Unit: Median price $223,090, Annual capital growth -2.99%, Number of sales 10, Weekly median advertised rent $280

  • 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.

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  • House Report
  • Unit Report

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.

Information supplied by:


April 2018

M
O

W
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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
$363,500 $223,090
0.76% -7.05%
-4.34% -18.58%
2.60% -2.99%
$380 $280
70 10
5.44% 6.53%
50.5254237288136 N/A

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 : Very 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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