New Town

POSTAL CODE: TAS, 7008
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NEW TOWN ranks 180th in TAS when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of 0.57% for the past year is lower than average compared to its 25.35% growth within a five-year period.

Also in NEW TOWN, the median home price is sitting at $885,000, and the average rent at $595, this suggests property owners could potentially earn a 3.5% increase in gross rental yield.

Property investors have seen a 0% gain in NEW TOWN based on an increase in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 7.38% growth over a ten-year period. It ranks 1665th on our list of suburbs that property investors should look into.

Surburb overview

New Town, with the postcode 7008, is a historic suburb located approximately 4 kilometres north of Hobart’s central business district in Tasmania. Known for its well-preserved heritage buildings, vibrant community, and convenient access to urban amenities, New Town offers a dynamic and comfortable lifestyle for its residents. The population of New Town is around 6,000 residents, comprising a mix of families, professionals, and retirees who appreciate the suburb’s charming environment and strategic location.

New Town falls under the jurisdiction of the City of Hobart, which ensures well-maintained infrastructure and community services. Public transportation is well-served by Metro Tasmania buses, providing regular services to Hobart’s CBD and surrounding suburbs, making commuting convenient for residents. The suburb is also easily accessible by car via major routes such as New Town Road and Augusta Road.

Educational facilities in New Town are comprehensive, catering to families with children of all ages. These include New Town Primary School, Sacred Heart College, and Ogilvie High School. The Friends’ School, a renowned independent co-educational school, also offers education from early childhood through to Year 12. For higher education, residents have access to the University of Tasmania’s Sandy Bay campus and various vocational training centres in Hobart.

The New Town Plaza Shopping Centre serves as a focal point for retail and community services, featuring a range of stores that cater to everyday needs. Additionally, the nearby North Hobart shopping precinct and the Hobart CBD provide more extensive shopping, dining, and entertainment facilities.

New Town is rich in recreational activities, with numerous parks, reserves, and green spaces enhancing the suburb’s appeal. The Queens Domain, located nearby, offers extensive recreational facilities, including sports fields, walking tracks, and the Royal Tasmanian Botanical Gardens. John Turnbull Park and Cornelian Bay are popular local spots featuring playgrounds, picnic areas, and scenic views, making them ideal for family outings and outdoor activities.

The suburb’s historical significance is reflected in its well-preserved heritage buildings and streetscapes, including St. John's Park Precinct and the old New Town railway station. These sites offer a glimpse into Tasmania’s colonial past and contribute to the suburb’s unique character.

Residents of New Town benefit from its proximity to Hobart, allowing easy access to the city’s cultural and recreational attractions, including the Tasmanian Museum and Art Gallery, the State Cinema in North Hobart, and the bustling Salamanca Market. The suburb's strategic location also makes it a convenient base for exploring the natural beauty of the surrounding region, including Mount Wellington and the Derwent Valley.

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