Question 1

Is Newstead a nice place to live?

Accepted Answer

Newstead is an inner-eastern Launceston suburb close to the Tamar River and within easy reach of the city centre. Its tree-lined streets mix established weatherboard and brick cottages with more recent low-rise infill, and the area attracts young professionals, families and long-term residents who value a quieter residential feel while keeping a short commute to town. A modest local shopping strip provides cafés and everyday services, buses link to the CBD, and riverside parks with shared walking and cycling paths give plenty of outdoor options.

The community of 5,617 people has a median age of 43, and couples make up the bulk of families, accounting for 81.5% of family types; about seven in ten homes are owner-occupied (71.0%). There is a confirmed Homes Tasmania social housing project at 18–20 Ellison Street intended to provide 10 dwellings for women, and Newstead sits close to Launceston-wide civic projects such as the hospital precinct plans and nearby sport and community facility works. Whether this mix suits you depends on what you value in a suburb.

Question 2

Is it expensive to live in Newstead?

Accepted Answer

Buying a house in Newstead works out to about 9.2 times a typical local household's annual income at the last Census, based on a median house price of $702,250 and a weekly household income of $1,470 at the last Census. That multiple sits well above local incomes.

On the rental side, a house at $570 a week would take about 38.8% of a typical local household's weekly income at the last Census, and a unit at $450 a week would take about 30.6%, so both rents would be a sizeable share of income. Renting looks less stretched than buying on these figures, but whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Newstead a good place to invest?

Accepted Answer

Unit values in Newstead rose 39.0% over the past year, a strong increase compared with house values, which climbed a solid 9.1%. On the income side, house rents increased 11.8% while unit rents rose 9.8% over the same period.

Put together, the figures point to large capital growth for units and solid price growth for houses, with house rents growing faster than unit rents this year. Whether that mix of capital growth and rental income suits you will depend on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$702K	N/A
Change in value Past 12 months	9.1%	39.0%
Sold Past 3 months	28	8
Median days on market Past 12 months	21	22
Average rent Past 12 months	$570	$450
Change in rent Past 12 months	11.8%	9.8%

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