Great location Josho. Lived in Newnham for over 15 years and found it to be a pleasant place to live. Mowbray is only a 10 minute walk away which is your closest growing suburb with a thriving town centre, and very popular for students as the university is also in Mowbray.
No Josho! Avoid the areas near the University. It is about to be re-located into the City at Inveresk beside the North Esk River; already there is some new student accommodation built there.
Newnham and surrounds have traditionally been buoyant investment areas due to the high demand from Uni students. This must decrease resulting in an oversupply of investment properties there.
Look at investing in suburbs more preferred by a broader section of tenants; typically those South of the North Esk river or West of the Tamar River. Close in to the City may be more expensive but a better long term investment. try for as large a land size as possible (or a corner block) for future development potential.
Do some homework, it is an easy market to understand...
Newnham would be a fantastic place for an investment property. Tafe, The University of Tasmania and Maritime College is right in the middle making Newnham a very sought after area for students and teachers. Mowbray is only minutes away with all your everyday necessities and Launceston CBD is less than 10 minutes away.
Or, try Waverley which is closeby. You can buy 3 bedroom houses for $140 - $180k, with rents of $200-$230pw. Newnham has already boomed, so will offer less capital growth than Waverley which is yet to boom to the price levels of suburbs next to it such as Newstead. For immediate growth good returns, AND long term growth & boom, go with Waverley.
Hi Josho. Newnham is an excellent place to buy an investment property because of the facilities that are located there. With the Tafe, University of Tasmania and Maritime College all being located in Newnham, properties to rent are highly sought after by students as well as the people who work at these facilities. Being only 10 minutes from Launceston CBD you are still close to everything Launceston has to offer.