Michael Lezaja
Gold Coast, QLD+40
Regional Tasmania · Launceston
Newstead is a sought-after inner suburb of Launceston, known for its quiet, leafy streets and established, family-friendly atmosphere. It offers a desirable blend of housing, from charming Federation-era homes to contemporary townhouses and units, attracting a diverse community. The suburb's appeal is enhanced by its strong sense of community, excellent local amenities, and its convenient proximity just a few kilometres east of the Launceston CBD.
Market snapshot
Price register · April 2026
Median house
$625,000 - $850,000
Mid-band $738Kspread 31%
Browse agencies across Australia to find the perfect team for your property journey.
Create your free profile and connect with motivated buyers actively searching for expert guidance in your area.
Create Your Free ProfileLast reviewed 14 May 2026
Median unit
$425,000 - $575,000
Mid-band $500Kspread 30%
Days on market
~15-35 days
Median listing-to-sold window. Shorter = tighter buyer field.
Auction clearance
Private-treaty market
Share of auctions sold. Brisbane skews private-treaty.
Rental yield
4.0% to 5.0%
Gross yield on house stock. Premium suburbs compress.
5-year house-price growth
+25% to +45%
cumulative since 2021Who buys here
Families · Young professionals · Retirees and downsizers
5-year trend
Modelled trajectory anchored on aggregated 5-year median figures. Indicative; not month-by-month observed data.
Market analysis
The Newstead property market is characterised by resilience and steady demand, underpinned by a persistent scarcity of supply. With a median house price of approximately $744,000 and units at $499,000, the suburb sits at a premium for the Launceston region, reflecting its desirability and strong socio-economic profile. Recent data indicates a healthy year-on-year growth of 7.8% for houses and an even more impressive 10.1% for units, showcasing robust buyer interest across both property types.
A key driver of the market is the low level of available stock. With inventory levels sitting at just 1.86 months, there is not enough property to satisfy demand, which in turn supports price stability and growth. This is compounded by limited new building approvals, suggesting that supply constraints will remain a feature of the market in the near term. Properties in Newstead sell quickly, with a median of just 25 days on market, indicating a strong transactional velocity where well-priced homes are snapped up by eager buyers.
For investors, the market offers reasonable returns. The rental yield for houses is a solid 4.5%, while units provide a yield of around 4.8%. A low vacancy rate of around 1.15% points to a stable rental market, ensuring consistent income for landlords, though not indicating the acute rental squeeze seen in other capital cities. While the market is strong, affordability is becoming a more significant consideration. The high cost of entry relative to local incomes can constrain the pool of eligible buyers, making the market more sensitive to interest rate fluctuations. Despite this, Newstead's combination of lifestyle, amenities, and proximity to the CBD continues to make it a prime location for owner-occupiers and a reliable choice for long-term investors focused on capital growth.
With tight supply, rapid sales times, and a blue-chip reputation, Newstead offers a compelling case for stable, long-term capital growth in the heart of Launceston.
Why a buyers agent
In a market as competitive and fast-moving as Newstead's, a buyer's agent is an invaluable asset. Properties here sell in a median of just 25 days, meaning opportunities are often gone before the average buyer can even arrange an inspection. An experienced agent brings access to off-market properties and strong relationships with local selling agents, giving their clients a crucial head start. Furthermore, Newstead's diverse housing stock, from heritage homes with potential pitfalls to modern builds of varying quality, requires a discerning eye. An agent can distinguish a prime investment from a property with hidden costs. They can also provide nuanced pricing advice in a market where high demand can lead to emotional overbidding, ensuring you pay a fair price for a quality asset in this premium Launceston enclave.
Situated just 3km from the Launceston CBD, Newstead offers an easy commute and access to city amenities while retaining a peaceful, suburban feel. Everything you need is on your doorstep.
The suburb is a major drawcard for families due to its concentration of highly-regarded public and private schools, including Newstead College and the junior campuses of Scotch Oakburn and Launceston Prep.
With a history of consistent capital growth, low supply, and high demand, Newstead is a blue-chip real estate location. Its market resilience makes it a secure choice for both owner-occupiers and investors.
Known for its beautiful tree-lined streets, character homes, and numerous parks, Newstead provides a high-quality living environment that is both attractive and family-friendly.
Compare
| Metric | This suburbNewstead | NearbyLaunceston | NearbyNorwood | NearbySouth Launceston |
|---|---|---|---|---|
| Median house | $625,000 - $850,000 | $625,000 - $825,000 | $1.40M - $1.90M | $550,000 - $750,000 |
| Median unit | $425,000 - $575,000 | $425,000 - $575,000 | $650,000 - $875,000 | $375,000 - $500,000 |
| Auction clearance | — | — | 78% to 88% | — |
| Days on market | ~15-35 days | ~37-87 days | ~28-64 days | ~13-31 days |
| Year-on-year growth | +3% to +13% | -4% to +6% | +18% to +28% | +7% to +17% |
| 5-year growth | +25% to +45% | +38% to +58% | +36% to +56% | +43% to +63% |
| Rental yield | 4.0% to 5.0% | 3.5% to 4.5% | 2.1% to 3.1% | 3.8% to 4.8% |
| Postcode | 7250 | 7250 | 5067 | 7249 |
Snapshot date varies by suburb; see individual suburb pages for figures.
The place
Nestled just three kilometres east of Launceston's city centre, Newstead is a premier residential suburb that blends suburban tranquillity with urban convenience. Its streets are famously leafy and lined with a mix of beautifully maintained character homes and quality modern dwellings.
The suburb is exceptionally well-serviced with amenities. The Newstead Shopping Centre and the commercial strip along Elphin Road provide residents with supermarkets, cafes, a post office, pharmacies, and various specialty stores.
Families are particularly drawn to Newstead for its outstanding selection of schools. The area is home to the senior secondary Newstead College and several highly regarded independent schools, including the junior campuses for Scotch Oakburn College and Launceston Preparatory School. The catchment for the well-regarded Punchbowl Primary School also covers parts of the suburb.
For recreation, Newstead offers abundant green space, with eight parks covering over 15% of its total area. The North Esk River forms the eastern boundary, providing lovely walking and cycling trails. Its proximity to Launceston's iconic Cataract Gorge further adds to its lifestyle appeal.
Public transport is reliable, with several Metro Tasmania bus routes, including routes 30 and 31, connecting the suburb to the Launceston CBD in approximately 10-15 minutes. For those who drive, the city centre is a short 5-10 minute journey away, making the daily commute effortless.
Frequently asked
Keep exploring
The 5-year trajectory is a modelled curve anchored on the documented cumulative growth rate. Editorial review: 14 May 2026. Updated quarterly.
Verified professionals serving Newstead
