New Norfolk Property Factsheet 2nd Half 2017
New Norfolk recorded a median house price of $215,000 representing an annual price change of -4.9%. New Norfolk property prices sit at 0.7%, slightly above that of Derwent Valley LGA ($213,500), thus suggesting affordability for those wanting to enter the housing market.
Average days to sell in New Norfolk has remained relatively stable over the past 18 months, currently averaging 65 days for houses in Q2 2017. Average vendor discounting for houses has tightened to -0.8%, suggesting that sellers are receiving close to their first listed price.
Median rents in New Norfolk peaked over the past twelve months to Q2 2017, and currently sits at $290 per week for houses. With low vacancy rates of 0.7% and exceptional rental yields, currently recorded at 5.9% (house) and 7.8% (units), astute investors has a bright future ahead.