New Town, TAS 7008: Suburb Profile & Property Report

Market Report

House report
Unit Report

In New Town, the median property price for a house is currently $880,000 with annual capital growth of -4.35% . There were 63 house sales in the past 12 months. On average, houses spend 25 days on market.

If you're thinking about buying an investment property in New Town, consider that rental yields for houses are currently 3.88% with an average median rent of $590 weekly. Houses have seen 0.00% growth in the past quarter, and -4.35% growth in the past 12 months.

The size of New Town is approximately 4 square kilometres. It has 8 parks covering nearly 9.3% of total area. The population of New Town in 2011 was 5,968 people. By 2016 the population was 6,109 showing a population growth of 2.4% in the area during that time. The predominant age group in New Town is 30-39 years.

Households in New Town are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in New Town work in a professional occupation. In 2011, 58.2% of the homes in New Town were owner-occupied compared with 57.4% in 2016.

In New Town, the median property price for a unit is currently $456,250 with annual capital growth of -5.44% . There were 36 unit sales in the past 12 months. On average, units spend 31 days on market.

If you're thinking about buying an investment property in New Town, consider that rental yields for units are currently 4.93% with an average median rent of $442 weekly. Units have seen 0.27% growth in the past quarter, and -5.44% growth in the past 12 months.

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Key Market Data	House	Unit
Median price	$880,000	$456,250
Quarterly growth	0.00%	+0.27%
12-month growth	-4.35%	-5.44%
Average annual growth	+5.30%	+4.28%
Weekly median rent	$590	$442
Gross rental yield	3.88%	4.93%
Number of Sales (12m)	63	36
Avg. Days on Market (12m)	25	31

Jump to Market Trends

Key Demographics	2011	2016
Total population	5,968	6,109
Population change (5y)	+1.67%	+2.40%
Median household income (p/w)	$1,047	$1,223
Household income change (5y)	+25.24%	+16.81%
Median age of persons	41	40

Jump to Demographics Trends

Market Trends

Houses

Units

The Median Sale Price in New Town is $880,000 for houses and $456,250 for units.

The Median Growth in New Town over the past 12 months is -4.35% for houses and -5.44% for units.

Over the past 12 months there were 63 houses sold and 36 units sold in New Town. On average, houses spent 25 days on market and units spent 31 days on market.

In the past 12 months up to September 2024 there were 63 houses sold and 36 units sold in New Town. On average, houses spent 25 days on market and units spent 31 days on market.

1 Year 5 Years 10 Years

Houses

Units

The Median Rent in New Town is $590 for houses and $442 for units.

The Rental Yield in New Town is 3.88% for houses and 4.93% for units.

1 Year 5 Years 10 Years

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Demographic Trends

Better understand demographic trends by reviewing the latest suburb demographic data below.

Age groups Country of Birth Religious Affiliation Household Income Occupations Education Level Qualification Level

The population of New Town was 6,109 in 2016, a +2.40% change compared to 2011.

The predominant age group in New Town is 30-39 years.

The population of New Town was 6,109 in 2016, a +2.40% change compared to 2011.

The predominant age group in New Town is 40-49 years.

Most of the population in New Town were born in Australia.

Most of the population in New Town report their religion as No Religion.

Most of the population in New Town report their income range as between $15,000 and $33,000 .

The median household income in New Town was $1,223 in 2016, a +16.81% change compared to 2011.

Most of the population in New Town report their income range as between $15,000 and $31,000 .

The median household income in New Town was $1,047 in 2011, a +25.24% change compared to 2006.

Most of the population in New Town work as Professional.

The chart below demonstrates the various levels of education in New Town.

Most of the population in New Town reached a qualification level of Bachelor.

2011 2016

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