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Magra

POSTAL CODE: TAS, 7140
HOUSE

Property investors enjoyed capital gains of 42.86% over the last 12 months in MAGRA, translating to lower returns compared with its peers in TAS.

Figures from the previous quarter show that capital gains for real estate buyers in MAGRA are high, as opposed to average gains per annum over the past five years.

The suburb posted a 18.11% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.

This number can mean, real estate investors could earn a rental income of N/A based on current median home prices for the suburb.

On average, rents on listings have reached the N/A mark, reflecting a N/A increase in returns based on the current median price in MAGRA.

MAGRA, 7140 ranks 2nd in TAS in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 126th on the list of best yielding suburbs for rental properties in TAS, posting a N/A return.

Surburb overview

Magra, with the postcode 7140, is a small rural locality situated within the Derwent Valley Council area, approximately 5 kilometres north of New Norfolk and about 35 kilometres northwest of Hobart, Tasmania's capital city. The area is known for its picturesque rural landscapes, offering residents a peaceful lifestyle with the convenience of being close to essential services in nearby towns.

Magra has a modest population, with a community primarily composed of families, retirees, and individuals who appreciate the tranquillity and space that rural living provides. The demographic profile reflects a mix of long-term residents and newer arrivals who are drawn to the area's natural beauty and rural charm. Many of the residents are engaged in agricultural activities, small-scale farming, or commute to New Norfolk or Hobart for work.

Public transportation in Magra is limited, with residents typically relying on private vehicles for commuting and accessing services. The locality is well-connected by road, with easy access to the Lyell Highway, which leads directly to Hobart and other nearby areas. The proximity to New Norfolk, a larger town just a few minutes' drive away, provides residents with access to essential amenities, including supermarkets, schools, healthcare facilities, and various retail outlets.

Magra is part of the Derwent Valley Council, which oversees local services and infrastructure. The council is committed to maintaining the rural character of the area while supporting sustainable development and providing necessary services to residents. Educational needs are met by schools in New Norfolk, which offer both primary and secondary education options. For higher education, residents typically travel to Hobart.

The natural surroundings of Magra offer numerous opportunities for outdoor recreation. The nearby Derwent River is popular for fishing, kayaking, and boating, while the surrounding countryside is ideal for hiking, cycling, and horse riding. The area is also close to several parks and nature reserves, providing residents with ample opportunities to explore the region's diverse flora and fauna.

Magra's rural setting does not preclude it from being part of a vibrant local community. New Norfolk, with its rich history and cultural heritage, hosts various events and markets that bring together residents from Magra and surrounding areas. These events, combined with the natural beauty of the region, contribute to a strong sense of community and belonging among the residents.

Magra offers a tranquil, rural lifestyle with the convenience of being close to the amenities of New Norfolk and within commuting distance of Hobart. The area's natural beauty, combined with its proximity to essential services, makes it an appealing location for those seeking a peaceful and relaxed way of life in Tasmania.

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