New Norfolk recorded a median house price of $203,750 in Q4 2017, representing an annual price change of 8.7%. Over the same time period vacant land prices trended upwards to $98,000. At the same time house prices in the Derwent Valley Council region increased by 8.0% to $237,500. New Norfolk property prices are well below Derwent Valley Council, providing a unique combination of a more affordable option to first home buyers yet with higher capital growth.
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