All About Somerset, Waratah-Wynyard, TAS, 7322

The housing market in Somerset, located within the Waratah-Wynyard Council area in Tasmania, offers a blend of affordability and attractive living conditions, making it an appealing destination for both first-time homebuyers and those seeking a more relaxed lifestyle. In recent years, Somerset has experienced moderate growth in property values, a trend influenced by its coastal charm and proximity to larger towns such as Burnie. Properties in Somerset range from charming older homes to more modern developments, providing diverse options for potential buyers. The market is characterized by relatively lower prices compared to larger urban centers, which continues to attract those looking for more value for their money in a naturally beautiful setting.

Living in Somerset is defined by its tranquil, community-focused ambiance and the stunning natural landscapes that surround it. Residents enjoy the benefits of a semi-rural lifestyle with access to pristine beaches, parks, and outdoor recreation areas. The town's close-knit community fosters a welcoming environment, making it an ideal place for families and retirees alike. Local amenities, including schools, shops, and healthcare services, support a comfortable living experience without the hustle and bustle of a larger city. Additionally, the town's location on the North West Coast of Tasmania provides easy access to both the mountains and the sea, offering numerous opportunities for outdoor activities such as hiking, fishing, and surfing. Overall, Somerset embodies a peaceful lifestyle with the conveniences of modern living amidst spectacular natural beauty.

Somerset Real Estate Market Outlook

Thinking about buying in Somerset? Now could not be a better time, with 2373 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $260,000 with prices in this suburb ranging from $14,000 to $3,456,000. Somerset is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices

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.

Instant Property Valuation

---

---

---

---

---

Public Transport

---

General Points of Interest

---

Nearby Suburbs

Residz covers 12m+ Australian properties and brings together a wealth of data to give you a better understanding of an area. From crime and schools to bush fire, flood risk and more. Begin your search for properties for sale or learn more about where you currently reside. Residz is an exciting next-generation Real Estate platform getting better by the day!