A steady increase in median property prices over a five-year period in the suburb translates to a 9.5% capital gain.
It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $219,000
The augmented property values in the suburb are trailing behind the territorial average of 9.12% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $295.
Home owners selling their properties and realtors in NEW NORFOLK usually have to wait an average of 64.7 days days before their assets are lifted off the market.
The TAS suburb ranks 19th on the list of best yielding suburbs for rental properties in TAS, posting a 7% return.
It also places places 112th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 5.26% over the last 12 months in NEW NORFOLK, translating to lower returns compared with its peers in TAS.
A survey of average capital gains or median home price increase in suburbs across the country shows that NEW NORFOLK, 7140 obtained a -2.14% decrease over a ten-year period. It ranks 1654th on our list of suburbs that property investors should look into.
NEW NORFOLK, 7140 has a capital gain of 5.26% for the past year, which is higher than average compared to its 5.26% growth within a five-year period.
With the median home price in NEW NORFOLK sitting at $200,000, and the average rent at $220, property owners could potentially earn a 5.72% increase in gross rental yield.
A 5.26% increase in median property prices in NEW NORFOLK, 7140 has allowed this suburb to join the ranks of best performing suburbs in TAS, settling at number 42nd.
Figures from the previous quarter show that capital gains for real estate buyers in NEW NORFOLK are high, as opposed to average gains per annum over the past five years.
NEW NORFOLK, 7140 in TAS belongs to the local government area of Derwent Valley.