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New Town, TAS 7008
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$890,000
market range $850K-$925K
Median Unit
$480,000
market range $450K-$525K
Gross Yield (houses)
3.9%
1yr Growth (houses)
+0.0%
market range -7.5% to +5.0%
Investment snapshot for New Town
New Town has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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New Town market and investor summary
In New Town, TAS 7008, the median house sells for around $890K, on a gross rental yield of 3.9% for houses. House prices have moved +0.0% over the past year and -6.4% over three years. At 0.4% vacancy, it is a tight rental market that favours landlords.
For an investor, the rent-to-price profile sits mid-range: a gross house yield near 3.9% is neither a standout cashflow play nor a pure growth bet.
Living in New Town: people, income and schools
New Town has a resident population of roughly 6,781, a number that has held fairly steady over five years. At a median age of 38, it reads as broadly working-age, and families account for 60% of households.
The typical household income runs to around $83,000 a year (about $1,600 a week). On socio-economic measures it ranks comfortably above the national middle (7 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 10.7 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 12% over five years, which tends to underpin what local buyers can pay.
Families have 42 schools within roughly 5km to choose from, testing close to the national school average on ICSEA. New Town sits about 3.1 km from the CBD. Most day-to-day errands are doable on foot; the suburb scores 77 for walkability and 73 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Premises.
- Population
- 6,781
- -1% over 5yr
- Median age
- 38 years
- Median household income
- $83,000/yr
- Households renting
- 41%
- Family households
- 60%
- Socio-economic rank
- 7/10
- ABS advantage index
- Schools within 5km
- 42
- avg ICSEA 1011
- Unemployment
- 2.9%
- Distance to CBD
- 3.1 km
- Walk score
- 77/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in New Town
View all →Frequently asked questions about New Town
What should I check before investing in New Town?
New Town has enough public data for first-pass screening across yield, vacancy, price and supply signals. Solid unit gross rental yield of 5.4%, giving a stronger rent-to-price starting point than many suburbs. Tight rental market (0.4% vacancy) gives landlords pricing power and low rental downtime. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in New Town?
The median property price in New Town, TAS 7008 is $890K for houses and $480K for units.
What rental yield does New Town show?
The gross rental yield in New Town is 3.9% for houses and 5.4% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for New Town?
House prices in New Town are up 0.0% over the past year and down 6.4% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in New Town?
The current vacancy rate in New Town is 0.4%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in New Town?
New Town has a population of approximately 6,781 residents, with a median age of 38.
What schools are near New Town?
There are 42 schools within roughly 5km of New Town. Their average ICSEA is close to the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is New Town affordable to buy in?
A median house in New Town costs about 10.7 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is New Town's population growing?
The population of New Town has held roughly flat over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is New Town from the CBD?
New Town is about 3.1 km from the CBD.
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