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Norwood

POSTAL CODE: TAS, 7250
HOUSE

Property investors have seen a 1.57% gain in NORWOOD based on an increase in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains NORWOOD, 7250 saw average growth in the long term.

The TAS 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 $640,500

Profits averaged -1.67% per annum over a 3-year period, due to an downward trend in home prices in NORWOOD, 7250.

This means, real estate investors could earn a rental income of $570 based on current median home prices for the suburb.

The gross rental yield in NORWOOD, 7250 is 4.63%.

An average of 5.67 real estate transactions take place per month in NORWOOD which translates to 68 per annum.

Surburb overview

Norwood, with the postcode 7250, is a suburban area located approximately 4 kilometres southeast of Launceston’s central business district in Tasmania. Known for its family-friendly environment, well-established residential areas, and convenient access to urban amenities, Norwood offers a comfortable and balanced lifestyle for its residents. The population of Norwood is around 3,500 residents, comprising a mix of families, professionals, and retirees who appreciate the suburb’s peaceful setting and community-oriented atmosphere.

Norwood falls under the jurisdiction of the City of Launceston, which ensures well-maintained infrastructure and community services. Public transportation is well-served by Metro Tasmania buses, providing regular services to Launceston’s CBD and surrounding suburbs, making commuting convenient for residents. The suburb is also easily accessible by car via major routes such as Hobart Road and Penquite Road.

Educational facilities in Norwood include Norwood Primary School, catering to the educational needs of young children in the community. For secondary education, students typically attend nearby schools such as Queechy High School and Scotch Oakburn College. The region also offers various early childhood education centres, ensuring comprehensive educational opportunities for families. For higher education, residents have access to the University of Tasmania’s Newnham campus and various vocational training centres in Launceston.

For shopping and essential services, Norwood residents often visit the nearby Kings Meadows shopping precinct, which offers a variety of retail stores, supermarkets, cafes, and dining options. The Launceston CBD also provides more extensive shopping, dining, and entertainment facilities, easily accessible to Norwood residents.

Norwood is rich in recreational activities, with numerous parks, reserves, and green spaces enhancing the suburb’s appeal. Punchbowl Reserve is a popular local spot featuring walking trails, picnic areas, and a playground, making it ideal for family outings and outdoor activities. The nearby Carr Villa Nature Reserve offers further opportunities for walking, birdwatching, and enjoying the natural beauty of the area.

The suburb’s proximity to Launceston allows residents to enjoy the city’s cultural and recreational attractions, including the Queen Victoria Museum and Art Gallery, the Cataract Gorge Reserve, and the Launceston Aquatic Centre. The scenic Tamar Valley, known for its wineries and vineyards, is also easily accessible, providing opportunities for wine tasting and exploring the region’s natural beauty.

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