Real estate boom
PROPERTY sales in the Derwent Valley were among the best in the state during the last quarter, a REIT report has revealed.
The Real Estate Institute of Tasmania’s June quarter report showed the number of house sales in the municipality were up by 21.3 per cent for the three-month period.
The Derwent Valley’s median house price also grew over the quarter by 14.5 per cent. There were 57 sales and the median is now $229,000.
REIT president Tony Collidge said it was pleasing to see areas like the Derwent Valley — alongside the West Tamar, Meander Valley, Northern Midlands, Circular Head, Central Highlands and the Southern Midlands — recording increased sales figures.
Success stories can be found right across the Derwent Valley property market, but especially in central New Norfolk.
Petrusma Property consultant Stuart Benson recently sold a house in Montagu Street at a record price for a two-bedroom, single bathroom residence in the suburb.
Mr Benson said the 1910 house sold for 100 per cent higher, or $172,500 more, than the median property price for a two-bedroom property in New Norfolk.
“It was also 60 per cent more, or $135,000 higher, than the median price for larger three-bedroom homes in the area,” he said.
Mr Benson said demand for the property had been high, with local, interstate and even some international interest.
“Potential buyers indicated that this ‘leafy township’ was highly appealing thanks to its antique stores and growing cafe culture, while being just 30 minutes to Hobart city.
“The homeowners were delighted with the result, and the purchasers, a young New South Wales couple, were