Suburb Profile Report for Somerset TAS (7322)

Somerset House: Median price $241,500, Annual capital growth 0.90%, Number of sales 72, Weekly median advertised rent $300

Somerset Unit: Median price $267,000, Annual capital growth 5.04%, Number of sales 14, Weekly median advertised rent $200

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

Somerset is in the bottom 20% in TAS when comparing median price capital growth over the last year. Somerset gave property investors a dismal capital gain figure when compared to the rest of the state, with -0.41%.

Taking the average capital gain, or increase in median house value, Somerset,7322 has racked up an average of -0.41% over the period. This ranks it number 2640th in the whole country for real estate investors looking at median house price increases.

Somerset, 7322 is offering TAS ‘s 16th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this TAS.

On average over the past year, suburb has had 6.00 sales per month, which equates to 72 per year.

Advertised rents are around the $300 mark per week – giving a return of 6.46% based on the median price in Suburb

Property investors who have had real estate in Somerset, 7322 should be pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 19.20%

Taking the average capital gain, or increase in median house value, Somerset,7322 has racked up an average of 19.20% over the period. This ranks it number 1083th in the whole country for real estate investors looking at median house price increases.

Property investors should expect to get $200 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$241,500 $267,000
5.00% 0.00%
-0.41% 19.20%
0.90% 5.04%
$300 $200
72 14
6.46% 3.90%
86.8 N/A

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 3974
Median household income ($/weekly) 796
Median age of persons 42
Median housing loan repayment ($/monthly) 1185
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 494 12.4
    35-44 years 475 12.0
    45-54 years 574 14.4
    55-64 years 534 13.4
    65-74 years 425 10.7
    Others 1472 37.0
    Age Group
    Census Count Percent(%)
    Registered Married 1397 48.8
    Not Married 1153 40.3
    Defacto Relationship 313 10.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3503 92.7
    New Zealand 16 0.4
    Papua New Guinea 24 0.6
    United Kingdom 149 3.9
    Other 27 0.7
    Others 59 1.6
    Country of Birth
    Census Count Percent(%)
    Christianity 2341 65.8
    No Religion 1191 33.5
    Buddhism 16 0.4
    Other Religious Groups 12 0.3
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 187 13.4
    $400-$599 219 15.6
    $600-$799 187 13.4
    $800-$999 138 9.9
    $1,500-$1,999 142 10.1
    Others 527 37.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1355 43.6
    Employed, worked full-time 1000 32.2
    Employed, worked part-time 512 16.5
    Unemployed, looking for work 126 4.1
    Employed, away from work 113 3.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 221 13.6
    Technicians & trades workers 308 19.0
    Community & personal service workers 189 11.7
    Clerical & administrative workers 209 12.9
    Labourers 205 12.6
    Others 490 30.2
    Occupation
    Census Count Percent(%)
    Pre-school 22 2.8
    Infants/Primary 325 41.7
    Secondary 243 31.2
    Technical or Further Educational Institution 113 14.5
    University or other Tertiary Institutions 72 9.2
    Others 5 0.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3333 90.9
    Flat, unit or apartment 193 5.3
    Semi-detached, row or terrace house, townhouse 83 2.3
    Caravan, cabin, houseboat 51 1.4
    House or flat attached to a shop, office 5 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 629 41.0
    Being purchased 490 31.9
    Rented 406 26.4
    Other tenure type 11 0.7
    Tenure Type
Census 2011, ABS
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