Newstead is a residential suburb in Tasmania, sitting within the 7250 postcode. Located approximately 161km from the Hobart CBD, the suburb is serviced by 4 schools and benefits from solid transport and amenity access.
Newstead has a population of approximately 5,617, a median age of 41, a median weekly household income of $1,639. With 66% owner-occupier rate, this is predominantly a homeowner market, which supports long-term price stability. Across the broader LGA, 37.5% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (20.2%), Retail Trade (11.1%), Education and Training (9.7%).
The current median house price in Newstead is $743,750. The suburb has delivered strong average annual growth of 9.3% over the past five years, outperforming many comparable markets. In the past 12 months, prices have increased 6.48%.
Properties in Newstead spend an average of 21 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.78%. With inventory levels at just 1.57 months, supply is tight relative to demand. The average vendor discount is -5.7%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Newstead is $573. Gross rental yield is 4.01%, providing a solid income return. Vacancy rate is 1.12%, reflecting healthy rental demand. Rents have grown 9.14% over the past 12 months.
The broader local government area is forecast to grow from 70,446 to 72,286 residents by 2031 (2.6% growth).
Explore other suburb profiles in the area: East Launceston, TAS, Riverside, TAS, Launceston, TAS, Norwood, TAS, Prospect Vale, TAS.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Newstead or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.