NEWNHAM, 7248 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in TAS have risen as a whole, pulling NEWNHAM, 7248 values up and netting property investors a capital gain of 6.54% for the past year.
Investors saw the median home price rise to $252,500.
Profits due to an downward trend in home prices in the suburb averaged -0.33% per annum over a 3-year period.
NEWNHAM now ranks at the 84th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in NEWNHAM are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $300 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In NEWNHAM, homes and units usually stay on listing for an average of 66.8 days.
In 2016, 117 properties were sold in NEWNHAM during the past year, making it the 183rd most active market in TAS based on total real estate transactions.
NEWNHAM ranks 30th in TAS when it comes to estimated capital gains experienced by property investors over the past three years.
NEWNHAM, 7248 has a capital gain of -15.91% for the past year, which is lower than average compared to its 4.12% growth within a five-year period.
With the median home price in NEWNHAM sitting at $177,000, and the average rent at $235, property owners could potentially earn a 6.9% increase in gross rental yield.
Property investors have seen a 1.14% gain in NEWNHAM 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 NEWNHAM, 7248 obtained a 1.25% growth over a ten-year period. It ranks 1456th on our list of suburbs that property investors should look into.