Located in Tasmania within the Launceston local government area, Newstead is a mid-sized suburb (postcode 7250). With a population of 5,617, the suburb has an established family demographic with a median age of 43. Households earn a median income of $76K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.3% year-on-year at the LGA level. TAS employment has moved -0.3% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. TAS also had 19 Commonwealth-backed major projects under construction, 0 underway, and 16 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, community & personal service. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Scottish.
The median house price in Newstead is $665,000, having declined steeply by 12.5% over the past year. Units have a median price of $420,000 (-15.2% YoY). The current median weekly rent is $510. This gives a gross rental yield of approximately 4.0%. The median monthly mortgage repayment is $1,417.
Newstead is served by 5 schools, including 2 primary, 1 secondary, 2 combined. The average ICSEA score is 1042, which is around the national average of 1,000. Public transport access includes 30 bus stops.
On the investment side, The gross rental yield works out to roughly 4.0%, which reads as moderate yield. Property prices are near the state median ($665K/$750K). The price-to-income ratio of 8.7x is considered moderate. House prices have moved -12.5% year-on-year. Population growth of -0.3% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.