Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb 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 $370,000.
The upward trend in home prices in NEWSTEAD, 7250 averaged 5.03% per annum over a 3-year period.
Average weekly rents on listings have reached the $320 mark, reflecting a 4.5% increase in returns based on the current median price in NEWSTEAD.
An average of 9 real estate transactions take place per month in NEWSTEAD which translates to 108 per annum.
108 properties were sold in NEWSTEAD in 2016, making it the 201st most active market in TAS based on total real estate transactions.
NEWSTEAD, 7250 places 51st in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||17.36%||-17.98%|
|Median 3 years||15.09%||-4.31%|
|Median 5 years||12.46%||-31.1%|
|10 years average annual||3.79%||0.4%|
|Weekly media advert. rent||$320||$212.5|
|Time on Market||72.9 days||76.3 days|
|Gross Rental Yield Percent||4.5%||6.42%|