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New Norfolk

POSTAL CODE: TAS, 7140
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A steady increase in median property prices over a five-year period in the suburb translates to a 1.05% 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 $480,000

The augmented property values in the suburb are trailing behind the territorial average of 4.47% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $455.

Home owners selling their properties and realtors in NEW NORFOLK usually have to wait an average of 79.2 days days before their assets are lifted off the market.

The TAS suburb ranks 23rd on the list of best yielding suburbs for rental properties in TAS, posting a 4.93% return.

It also places places 80th in Australia based on median property value growth during the quarter.

Surburb overview

New Norfolk, with the postcode 7140, is a historic town located approximately 32 kilometres northwest of Hobart in Tasmania. Nestled along the banks of the Derwent River, New Norfolk is known for its rich history, charming streetscapes, and picturesque landscapes. The population of New Norfolk is around 5,500 residents, comprising a diverse mix of families, professionals, and retirees.

New Norfolk falls under the jurisdiction of the Derwent Valley Council, which ensures well-maintained infrastructure and community services. Public transportation is available, with bus services connecting New Norfolk to Hobart and surrounding areas, making commuting convenient for residents. The town is also easily accessible by car via the Lyell Highway, facilitating straightforward travel to Hobart and other nearby towns.

Educational facilities in New Norfolk include New Norfolk Primary School and New Norfolk High School, catering to the educational needs of families with children from primary through to secondary levels. For higher education, residents have access to institutions in Hobart, such as the University of Tasmania and various vocational training centres.

New Norfolk offers a variety of local shops, supermarkets, cafes, and dining options within the town. The main shopping precinct along High Street features charming heritage buildings housing boutique stores, galleries, and eateries.

The town is home to numerous parks and green spaces, including Arthur Square and Tynwald Park, which offer walking trails, playgrounds, picnic areas, and sports facilities, making them ideal for family outings and outdoor activities. The nearby Derwent River provides excellent opportunities for water-based activities such as fishing, kayaking, and boating.

The town’s historic significance is reflected in its well-preserved heritage buildings and sites, such as Willow Court, Australia's oldest surviving mental asylum, and the Bush Inn, one of Australia's oldest continuously licensed hotels. These sites offer guided tours and exhibitions, providing insights into Tasmania’s colonial past.

Outdoor enthusiasts can enjoy various walking and hiking trails in the area, including those in the nearby Mt. Field National Park, which offers stunning waterfalls, diverse wildlife, and breathtaking scenery. The region’s diverse flora and fauna make it a haven for nature lovers and eco-tourism.

Community engagement is strong in New Norfolk, with various local events and activities fostering a sense of connection and social interaction. The town hosts the annual Derwent Valley Autumn Festival, which celebrates local produce, crafts, and entertainment, attracting visitors from across the region. Local markets, sports events, and cultural activities provide opportunities for residents to come together and enjoy the vibrant community spirit.

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