Powered by MOMENTUM MEDIA
AREA REPORTS

Somerset

Suburb Profile

Somerset - FREE SUBURB PROFILE REPORT
POSTAL CODE: TAS,7322

house
unit

Property investments in SOMERSET did not fare well against the rest of the country last year, registering a median home price decrease of 14.23%.

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 $340 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 41.1 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 $305,000.

SOMERSET ranks 21st on the list of best yielding suburbs for rental properties in TAS, posting a 5.8% return.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $305,000 $257,500
GROWTH REPORT
Median Quarterly 0% 3%
Median 12 month 14.23% -9.46%
Median 3 years 23.48% 14.96%
Median 5 years 38.01% -4.08%
10 years average annual 3.02% 1.46%
Weekly media advert. rent $340 $265
Time on Market 41.1 days 0.0 days
Gross Rental Yield Percent 5.8% 5.35%
demographics (median values)
Total Population
3080
Weekly Household Income
621.4
Household Size
2.30
demographics
select a category
Age group
Top 10 Birth Countries
Dwelling Structures
Education
Household Income
Labour Force
Marital Status
Occupation
Religious Affiliation
Tenure Type

Subscribe to get the latest news and updates

Perth luxury property

Perth’s luxury property growth ranked highest in Australia

Smaller cities have outranked the major capitals for prime luxury residential real estate price growth, a new report has shown. ...

Negotiating a lower interest rate on your property loan

Negotiating a lower interest rate on your property loan

The banks are customer hungry, meaning they’re willing to offer increased discounts to new customers and apply these discounts to existing...

Regional v capitals

Regional v capitals: Where will buyers flock in 2021?

Despite the pandemic, house and unit prices rose across Australia last year. But will this resilience persist in 2021? ...

Aussies swarm high-end property market, triggering price growth

Aussies swarm high-end property market, triggering price growth

Prices across the high-end property market are tipped to see exponential growth as demand for space and comfort increases. ...

climate hazards

1 in 10 Victorian properties at risk of climate hazards

Nearly one in 10 Victorian properties is at a very high risk of a climate hazard, new research has revealed, pinpointing the regions that ...

end of JobSeeker impact the property market

Will the end of JobSeeker impact the property market?

With JobSeeker coming to an end in March, how will the Australian housing market fare? ...

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.