Norwood is a smaller suburb in Tasmania within the Launceston local government area (postcode 7250). With a population of 3,869, the suburb has a mature demographic with a median age of 48. Households earn a median income of $75K per year, with an average household size of 2.3 people. The most common occupations are professionals, clerical & administrative, community & personal service. The top ancestries reported are Australian, English, Scottish.
The median house price in Norwood is $625,000, having increased 3.2% over the past year. Units have a median price of $485,000 (+14.7% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 5.2%. The median monthly mortgage repayment is $1,343.
Norwood is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 976, which is around the national average of 1,000. Public transport access includes 2 rail stations, 20 bus stops.
From an investment perspective, Norwood offers a gross rental yield of 5.2%, rated as high yield. Property prices are near the state median ($625K/$750K). The price-to-income ratio of 8.3x is considered moderate. House prices have moved +3.2% year-on-year.
Norwood is a smaller suburb in Tasmania within the Launceston local government area (postcode 7250). With a population of 3,869, the suburb has a mature demographic with a median age of 48. Households earn a median income of $75K per year, with an average household size of 2.3 people. The most common occupations are professionals, clerical & administrative, community & personal service. The top ancestries reported are Australian, English, Scottish.
The median house price in Norwood is $625,000, having increased 3.2% over the past year. Units have a median price of $485,000 (+14.7% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 5.2%. The median monthly mortgage repayment is $1,343.
Norwood is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 976, which is around the national average of 1,000. Public transport access includes 2 rail stations, 20 bus stops.
From an investment perspective, Norwood offers a gross rental yield of 5.2%, rated as high yield. Property prices are near the state median ($625K/$750K). The price-to-income ratio of 8.3x is considered moderate. House prices have moved +3.2% year-on-year.