This property is Off Market
With an average age of 46, households expect an average monthly mortgage payment of $1,257 or a weekly rent payment of $348. The average family earns a weekly income of $2,208 with a typical household size of 2.6 and a 104.0% employment rate.
Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. Low average incomes in Somerset is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. The slightly lower than average earnings from occupations in Somerset changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Lower than average population density constrains growth in Somerset to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.
(Country of Birth not stated 11%)
Somerset a good, bad, or just average location in which to invest in property? Should you be buying, or selling, property right now? Our Investability scores provide comparative insights into the investment potential for every suburb across Australia.
Investability - Housing Demand
Tasmania State average 45 / 100
Income
21 / 100
41 / 100
Industry
26 / 100
40 / 100
Population
21 / 100
40 / 100
House Prices
59 / 100
65 / 100
Jobs
23 / 100
38 / 100
Incidents Trend State Average
Somerset Primary School
Somerset, TAS, 7322 State K-6
Table Cape Primary School
Wynyard, TAS, 7325 State K-6
Burnie High School
Cooee, TAS, 7320 State 7-12
Wynyard High School
Wynyard, TAS, 7325 State 7-12
Hellyer College
Shorewell Park, TAS, 7320 State 11-12
St Brigid's Catholic School
Wynyard, TAS, 7325 Independent Prep-6
Australian Christian College - Burnie
Somerset, TAS, 7322 Independent Prep-10
Marist Regional College
Burnie, TAS, 7320 Independent 7-12
Burnie Primary School
Park Grove, TAS, 7320 State K-6
Cooee Primary School
Cooee, TAS, 7320 State K-6
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134 Acme Avenue Street, Town, State
Description - Details the application. Type and other information pertaining to the development application and more...
Authority Reference: UX0909823-GOV Website
The Residz risks assessments are composed from data attributes which are generally accepted to indicate higher or lower risk presence likelihood for that condition for any address or locality. They do not however determine the exact presence of that risk for any specific property. The Residz Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice. While Residz uses commercially reasonable efforts to ensure the Residz Data is current, Residz does not warrant the accuracy, currency or completeness of the Residz Data and to the full extent permitted by law excludes liability for any loss or damage howsoever arising (including through negligence) in connection with the Residz Data. Historical prices and trends are not a guarantee of future prices and trends.
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