Newstead is a well-established suburb known for its leafy streets and variety of housing options, offering a blend of traditional charm and modern amenities. Situated close to Launceston, it provides easy access to schools, parks, and shopping centres, making it highly sought after by families and professionals. Whether you’re looking for a quaint cottage or a contemporary home, Newstead has something to suit every taste. Find your new home in Newstead with Nest Property.
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Newstead property market
Newstead, one of Launceston’s most established and sought-after suburbs, continues to draw interest from families, professionals, and investors alike. Known for its leafy streets, quality schools, and close proximity to the city centre, Newstead offers a blend of lifestyle and convenience. In the past month, the market saw 12 properties available for rent and 38 properties listed for sale, indicating healthy market activity and ongoing buyer interest.
Over the past year, median property prices in Newstead have remained relatively accessible compared to other premium Tasmanian suburbs. Houses have recorded a median price of around $695,000, while units offer a more affordable option with a median price of approximately $378,500. This price gap creates opportunities for both owner-occupiers and investors, depending on budget and investment strategy.
For investors, Newstead presents solid rental returns. Houses in the area typically rent for $530 per week, resulting in a gross rental yield of 4.8%, which is relatively attractive in today’s market. Units offer an even stronger yield of 5.1%, with weekly rents averaging $450. These figures point to consistent rental demand in the area, particularly from tenants looking for a well-connected, amenity-rich location near central Launceston.
However, recent capital growth figures suggest a softening of the market. Houses in Newstead have seen a compound annual growth rate (CAGR) of -3.1%, while units have experienced a more significant decline, with a CAGR of -15.7%. These figures may reflect a post-COVID market correction or changing buyer preferences, and could present value-buying opportunities for those with a long-term investment outlook.
Despite recent market fluctuations, Newstead remains one of Launceston’s most liveable and desirable suburbs, offering a great balance of lifestyle, location, and investment potential. With its established infrastructure, attractive rental yields, and continued demand from quality tenants, Newstead is still a suburb worth watching—especially for buyers looking to take advantage of current market conditions.
Market trends
View median property prices* in Newstead to get a better understanding of local market trends.
*Data based on sales within the 12 months to July 2025.