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Somerset

POSTAL CODE: TAS, 7322
HOUSE

Property investments in SOMERSET fare well against the rest of the country last year, registering a median home price increase of 11.25%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains SOMERSET, 7322 saw average growth in the long term.

Real estate investors could earn a rental income of $425 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 60.9 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $489,500.

SOMERSET ranks 49th on the list of best yielding suburbs for rental properties in TAS, posting a 4.51% return.

Surburb overview

Somerset, a vibrant town located on Tasmania's picturesque northwest coast, is situated approximately 10 kilometres west of Burnie and around 160 kilometres from Hobart.

The town has a population of approximately 4,000 residents. The demographic profile includes families, young professionals, and retirees, contributing to a diverse and dynamic community. 

Somerset is part of the Waratah-Wynyard Council local government area. The council is dedicated to maintaining the town’s infrastructure and providing essential services.

Public transportation in Somerset is well-developed, with regular bus services connecting the town to Burnie and other nearby areas. These services make commuting convenient for those who work or study in Burnie or other parts of Tasmania.

Somerset offers a variety of key establishments and amenities. The town has several schools, including Somerset Primary School and Yolla District School, catering to the educational needs of local families. For higher education and more specialised services, residents often travel to Burnie, which provides additional options.

The Somerset Village Shopping Centre offers a variety of retail stores, supermarkets, cafes, and restaurants, providing residents with easy access to daily necessities and leisure activities. Local markets and shops also offer fresh produce and locally made products, supporting the town’s economy.

Recreational activities are abundant in Somerset, particularly for those who enjoy outdoor pursuits. The town’s beaches, such as Somerset Beach and Cam River Beach, are popular spots for swimming, surfing, and picnicking.

The Somerset Recreation Ground and nearby Anzac Park offer facilities for sports and leisure, including football, cricket, and tennis. These venues host local sports events and community gatherings, fostering a strong sense of community and encouraging an active lifestyle.

For nature enthusiasts, the surrounding areas offer numerous walking trails and parks. The Cam River Reserve is a picturesque spot for walking, birdwatching, and enjoying the natural environment. The nearby Rocky Cape National Park provides further opportunities for hiking, exploring, and appreciating Tasmania’s unique flora and fauna.

Somerset’s combination of beautiful natural surroundings, strong community ties, and convenient amenities makes it a desirable place to live. Its proximity to Burnie, excellent public services, and abundance of recreational opportunities offer residents a balanced and fulfilling lifestyle. The supportive local government and active community involvement ensure that Somerset remains a welcoming and enjoyable place to call home.

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