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New Norfolk suburb profile

New Norfolk is a picturesque town located in the Derwent Valley, approximately 32km northwest of Hobart, Tasmania. Known for its rich history and stunning natural surroundings, it offers a charming blend of heritage architecture and modern amenities. The town is famous for its antique shops, beautiful gardens, and the historic Willow Court precinct. Nestled along the Derwent River, New Norfolk provides ample opportunities for outdoor activities such as fishing, hiking, and exploring nearby national parks. Its welcoming community, scenic landscapes, and proximity to Hobart make it an attractive destination for residents and visitors alike.

New Norfolk property market performance

Property growth+17.8%Past 12 months

New Norfolk's property market has shown positive growth over the past 12 months, with house values increasing by 8.5%, bringing the median house price to $534,400. The unit market remains stagnant, with no change in median value and limited sales activity, reflecting a lack of demand or availability in this segment.

In terms of sales activity, 36 houses were sold over the last 12 months, with a median time on market of 32 days, indicating a relatively brisk pace for house sales. The unit market, however, saw only 3 sales, with no data on median days on market, suggesting limited activity.

The rental market in New Norfolk has experienced notable changes, with house rents increasing by 10.9% over the last 12 months, reaching an average of $510. Unit rents have seen a modest rise of 2.6%, averaging $400, indicating a stronger demand for house rentals in the area.

HousesUnits
Median price
Past 3 months
$583KN/A
Change in value
Past 12 months
12.8%N/A
Sold
Past 3 months
414
Median days on market
Past 12 months
32N/A
Average rent
Past 12 months
$525$430
Change in rent
Past 12 months
12.9%10.3%

5 year median price trend for houses and units

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New Norfolk demographics

New Norfolk, nestled in the picturesque Derwent Valley of Tasmania, is a charming town known for its rich history and scenic beauty. With a population of 6,037, it offers a tranquil lifestyle that appeals to families, retirees, and those seeking a slower pace of life. The median age of 40 reflects a mature community, with a blend of long-term residents and newcomers drawn to its serene environment and close-knit community feel.

The housing landscape in New Norfolk is quite balanced, with 31.7% of properties owned outright and 36.4% owned with a mortgage, indicating a stable property market with opportunities for both established homeowners and new buyers. Renting is also a viable option, with 31.9% of properties available for rent, catering to those who prefer flexibility or are exploring the area before committing to purchase.

Family life is a significant aspect of New Norfolk, with couple families with children making up 32.8% of the population, and couple families without children accounting for 40.0%. One-parent families also form a substantial part of the community at 25.5%, highlighting the suburb's inclusive nature. The town's rich heritage, combined with its proximity to Hobart, makes it an attractive option for those looking to enjoy a peaceful lifestyle while still having access to urban amenities.

Suburbs near New Norfolk

Some popular suburbs near New Norfolk include:

  • Lawitta: A small, peaceful suburb known for its rural charm, Lawitta is located just to the east of New Norfolk.
  • Magra: Characterized by its scenic landscapes and spacious properties, Magra lies to the north of New Norfolk.
  • Lachlan: Known for its lush greenery and tranquil environment, Lachlan is situated to the west of New Norfolk.
  • Molesworth: Offering a mix of rural and residential areas, Molesworth is located to the southeast of New Norfolk.
  • Dromedary: Known for its expansive views and rural lifestyle, Dromedary is situated to the northeast of New Norfolk.

How does New Norfolk compare to nearby suburbs?

  • Selling speed for houses: Properties in New Norfolk are selling 48.4% faster than in Magra.

Choose the right real estate agents in New Norfolk

Choosing the right real estate agent in New Norfolk can have a big impact on your sale. While there are 59 real estate agents working in the suburb, but just 5 of them were responsible for 54.9% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 2.63% to 3.25%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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