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New Town, TAS 7008

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for New Town, TAS 7008 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “New Town, TAS 7008”

  1. The total adult population (15 years or older) of New Town 7008 TAS is 5,875, with a median age of 38. Of those, 39.56% are married, 12.71% are divorced or separated, 42.45% are single and 5.23% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $8,392. The median monthly mortgage repayment for households in this suburb is $1,771 which is 21.10% of their earnings.

    Source: ABS Census Data (2021)

  2. The charming suburb of New Town, 7008, located in beautiful Tasmania, is home to approximately 3,434 households. Offering a close-knit community perfect for those searching for a laidback lifestyle, New Town holds potential for both property owners and investors alike.

    As we have crossed into the third quarter of 2023, the housing market in the suburb presents an eye-catching snapshot. Typical prices for houses in the area are currently sitting at $878,747. This aligns appealingly with a median weekly rent of $621, whirling the gears of a robust indicative yield of 3.67%. As a guideline for cashflow-centered property investors, yields this side of 3% are an attractive prospect, indicating the investment’s ability to generate a steady income.

    The socio-economic conditions in New Town paint a promising panorama with an IRSAD score of 1019 out of 1217, signifying a healthy economic and social environment.

    While the renter-to-owner ratio stands at 41%, slightly above the desired 30% and below target, it is important to consider that even though this might imply a highly competitive rental market, if most other metrics are favourable, this may not necessarily lead to lower returns.

    The units to houses ratio of 22% is well within the favourable range of 50% or lower. The presence of more houses than units suggests less competition amongst landlords for tenants, often resulting in longer tenancy periods that make for a stable rental income.

    However, the affordability index, which calculates the estimated time to fully own a property, rises slightly above the norm at 41 years. This implies that area grabs the labels of ‘moderate affordability’.

    The stock on market percentage for houses is a favourable 0.25%, translating to a relatively lower supply on the market. With an inventory level of 1.09 months for houses, the market shows signs of low supply, another favourable condition for investors or prospective home buyers. Also, the building approvals ratio for the area is pleasingly low at 0.38%, hinting towards a limited increase in new properties in the near future.

    New Town’s property market blooms with demand. Houses spend an average of only 26 days on the market, under the 35-day threshold that suggests high demand, while the combined vacancy rate for houses and units is pinned at a neutral 1.91%.

    However, the suburb’s buy search index of 3 suggests looming limited demand. This is another metric to closely monitor moving forward, but remember, it’s absolutely fine to have some metrics in an unfavourable range if the majority of other metrics are swinging in the favourable direction.

    In summary, New Town’s relative composite score, an automized research model using over 80 metrics to assess market appeal, acts as the true north of any property investment decision. And based on the details laid out, it’s clear that the suburb presents itself as a worthwhile contender on an investor’s radar for 2023. Investors and buyers should use these metrics as a guide, keeping an eye on the ever-evolving trends in the property market.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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