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Norwood suburb profile

Norwood is a picturesque suburb located in the northern city of Launceston, Tasmania, known for its serene residential atmosphere and family-friendly environment. Situated just a short drive from the city centre, Norwood offers a peaceful retreat with its tree-lined streets and spacious parks. The suburb is popular among families and retirees, providing a range of amenities including schools, local shops, and recreational facilities. Its proximity to the stunning Cataract Gorge and the Tamar Valley wine region adds to its appeal, making Norwood a desirable location for those seeking a balanced lifestyle with both urban and natural attractions.

Norwood property market performance

Norwood’s property market has shown modest growth over the past 12 months, with house values increasing by 2.4%. The current median house price stands at $773,000. However, the unit market has remained stagnant, with no change in median value and limited sales activity, as only one unit was sold in the past year.

The housing market in Norwood is quite active, with 21 houses sold over the last 12 months and a median time on market of just 14 days, indicating strong demand. In contrast, the unit market has seen no sales activity in the past three months, reflecting a lack of available units or demand.

Rental prices for houses have seen a significant increase, with a 9.1% rise over the last 12 months, bringing the average rent to $578. The unit rental market remains inactive, with no change in rent prices, highlighting a focus on the housing sector in Norwood.

HousesUnits
Median price
Past 3 months
$785KN/A
Change in value
Past 12 months
5.2%N/A
Sold
Past 3 months
191
Median days on market
Past 12 months
15N/A
Average rent
Past 12 months
$580N/A
Change in rent
Past 12 months
9.4%N/A

5 year median price trend for houses and units

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Norwood demographics

Norwood, located in Tasmania, is a suburb that offers a serene and family-friendly environment. With a population of 3,869, it is a close-knit community that appeals to those seeking a quieter lifestyle. The median age of 48 suggests a mature population, with many residents likely enjoying the suburb's peaceful atmosphere and proximity to natural attractions. Norwood's charm lies in its balance between suburban living and access to the amenities of nearby Launceston.

The suburb's housing landscape is characterized by a high rate of home ownership, with 45.9% of properties owned outright and 35.1% owned with a mortgage. This indicates a stable community with long-term residents who have invested in the area. The rental market is relatively small, with only 19% of properties rented, which may appeal to those looking for a more settled environment.

Family life is a significant aspect of Norwood, with 36.4% of households being couple families with children and 46.1% being couple families without children. The presence of one-parent families, making up 15.9% of the community, adds to the suburb's diversity. The median total household income of $1,440 per week reflects a comfortable standard of living, making Norwood an attractive option for families and retirees alike. Its combination of community spirit, natural beauty, and accessibility to urban conveniences makes Norwood a desirable place to call home.

Suburbs near Norwood

Some popular suburbs near Norwood include:

  • Punchbowl: Known for its scenic reserves and family-friendly atmosphere, Punchbowl is located to the west of Norwood.
  • St Leonards: Offering a mix of rural and residential living, St Leonards is situated to the east of Norwood.
  • Kings Meadows: Featuring a bustling shopping district and diverse housing options, Kings Meadows lies to the southwest of Norwood.
  • Newstead: Known for its charming homes and proximity to the city center, Newstead is located directly northwest of Norwood.
  • Waverley: Offering a quiet residential environment with easy access to nature, Waverley is situated to the northeast of Norwood.

How does Norwood compare to nearby suburbs?

  • Median house prices: Norwood’s median house price is 13.4% higher than St Leonards’s.
  • House price growth: Property prices in nearby Punchbowl have risen 1.0% more than in Norwood over the past year.
  • Selling speed for houses: Properties in Norwood are selling 57.1% faster than in St Leonards.

Choose the right real estate agents in Norwood

In Norwood ,45 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 45.7% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 2.38% and 3.25%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.

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