Norwood
With a median age of 48, Norwood sits 8 years above the national figure, making it one of Launceston's more mature residential pockets. The suburb covers 3.91 square kilometres at a density of 989 people per km2, and 88.3% of its 3,869 residents live in separate houses, well above the national apartment-heavy benchmark. Household income sits at the 43.6th percentile nationally, below average, yet owner-occupancy is high: 45.9% own outright and only 19% rent. The SEIFA IRSD decile of 6 suggests moderate advantage, placing Norwood comfortably in the upper half nationally on relative disadvantage measures.
Population
3,869
Median Age
48.0
Household IncomeiMedian weekly household income (ABS Census)
$1,440/wk
DAs (12 months)iDevelopment Applications lodged in the past year
0
Median House
$670K
YTD 2026
The median house price reached $670,000 in YTD 2026, up from $639,000 in 2024, a gain of roughly 4.9% over two years. That price sits above the typical Tasmanian regional market and represents strong long-run growth: the CAGR over 30 years is 6.0%, lifting values from $117,500 in 1996. The peak was $720,000 in 2022, so today's buyers are entering 6.9% below that high, giving some room for recovery. Monthly mortgage repayments average $1,343, producing a mortgage-to-income ratio of 21.5%, below the 30% stress threshold. Separate houses dominate at 88.3% of stock, and 35.7% of dwellings have four or more bedrooms, meaning buyers get genuine family-sized homes at what remains a manageable repayment level.
For Buyers
The median house price reached $670,000 in YTD 2026, up from $639,000 in 2024, a gain of roughly 4.9% over two years. That price sits above the typical Tasmanian regional market and represents strong long-run growth: the CAGR over 30 years is 6.0%, lifting values from $117,500 in 1996. The peak was $720,000 in 2022, so today's buyers are entering 6.9% below that high, giving some room for recovery. Monthly mortgage repayments average $1,343, producing a mortgage-to-income ratio of 21.5%, below the 30% stress threshold. Separate houses dominate at 88.3% of stock, and 35.7% of dwellings have four or more bedrooms, meaning buyers get genuine family-sized homes at what remains a manageable repayment level.
For Investors
The rental yield story is constrained by a 6.4% vacancy rate, which is elevated and signals soft rental demand compared to tighter Tasmanian markets. Weekly rent of $320 against a $670,000 median implies a gross yield near 2.5%, low for a regional market. Renter share is only 19%, so the landlord pool is small and competition for tenants can be real when supply turns over. Net internal migration averages minus 16 residents per year and net overseas migration adds only 12, leaving population essentially flat. Rent growth of 33.3% over the prior decade confirms that rents have moved, but the current vacancy means that momentum is not guaranteed to continue. Investors targeting yield should approach cautiously; those backing long-run capital growth have the 30-year CAGR of 6.0% as a supportive data point.
Schools in Norwood iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Norwood Primary School
K-6 · 415 students
Queechy High School
7-12 · 575 students
Demographics
The median age of 48 is 8 years above the national median, reflecting an aging resident base, and the senior share rose 5.8 points over the decade while the working-age share fell 4.3 points, confirming the trajectory. University qualifications reach 34.9%, which is 4.8 percentage points above the national average, a notable result for a regional Tasmanian suburb. Overseas-born residents are 12.2%, which is 9.4 points below the national figure, consistent with the Anglo-Celtic ancestry that dominates: English (1,738 residents), Scottish (397) and Irish (351) are the top three backgrounds. Average household size is 2.3, slightly below the national average of 2.5. Couples with children (1,044 families) outnumber couples without children (947), and the high 45.9% outright ownership rate points to long-established residents paying down mortgages over decades rather than a transient population.
Age Distribution
Bedrooms
Dwelling Structure
88.3%
Houses
7.1%
Townhouse
4.6%
Apartment
Tenure
Norwood is overwhelmingly a separate-house suburb: 88.3% of dwellings are detached, with semi-detached at 7.1% and apartments at only 4.6%. The bedroom profile skews large, with 48.5% three-bedroom and 35.7% four-plus bedroom homes, and only 1.1% with zero to one bedroom. The price history runs from $117,500 in 1996 to a peak of $720,000 in 2022, then a 6.9% correction to $670,000 today, meaning current values remain 470.2% above the 1996 starting point. Tenure is dominated by outright owners at 45.9%, well above the national average, which reflects the long-term resident base and low household churn. Mortgage holders are 35.1% and renters just 19.0%. Rent-to-income at 22.2% keeps tenants out of stress, while mortgage-to-income at 21.5% is similarly comfortable below the 30% stress threshold.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,343
Rent / wk
$320
HH Size
2.3
Personal Income / wk
$691
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
6.4%
Unoccupied
102
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.2%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
21.5%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
33.2%
Couples, no children
2,850
Total families
Economy & Employment
Healthcare is the dominant employer at 26.2% of the local workforce (292 workers), more than double the second sector, Education at 16.7% (186 workers). Construction at 7.9%, Professional/Tech at 7.1% and Public Admin at 7.1% round out the top five. By occupation, Professionals lead with 413 workers, followed by Clerical/Admin (230) and Community/Personal (217), consistent with the service-sector skew of a healthcare and education economy. The unemployment rate is 4.7% with a participation rate of 51.2%, below national norms because 1,400 residents are not in the labour force, largely explained by the older age profile. Real income growth was 5.6% over the decade, modest but positive. The IRSD decile of 6 and IRSAD decile of 5 place Norwood in the middle nationally, with no extreme advantage or disadvantage signal.
Unemployment
2.4%
Labour Force
1,832
Unemployed
44
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
58.3%
Part-time
37.0%
Participation
51.2%
Employed
1,598
Occupations
Top Industries
University
34.9%
Postgraduate
8.4%
Born Overseas
12.2%
Dwellings
1,500
Transport to Work
Car dependency is pronounced: 87.4% of residents drive to work, above the national norm, and only 1.4% use public transport, compared to higher rates in capital city suburbs. Walking and cycling account for 2.8%. The IRSAD decile of 5 places Norwood at the national median for relative advantage and disadvantage, while the IRSD decile of 6 suggests slightly fewer residents face deprivation than the average suburb nationally. Volunteering is active at 19.1% of residents, above many comparable suburbs. Rent-to-income at 22.2% and mortgage-to-income at 21.5% both sit below the 30% stress threshold, meaning housing costs are manageable for residents at current income levels. No schools are recorded within the suburb boundary in this dataset, so families rely on schools in neighbouring Launceston localities. The 21.9% residential turnover rate indicates most residents, 78.1%, stayed in the suburb over the measured period.
Drive
87.4%
Public Transport
1.4%
Walk / Cycle
2.8%
Work from Home
N/A
Population Forecast
-0.1%/yr
(-4 people/yr)
EstablishedAnnual population change is minus 0.1%, or minus 4 persons per year, effectively flat. The 10-year change of 6.4% is modest, and historical data shows a slide from 3,985 in 2023 to 3,844 in 2025, a 3.5% decline in just two years. Medium forecasts project a gentle stabilisation near 3,944 to 3,963 by 2026 to 2031, suggesting the outflow may moderate rather than accelerate. Internal migration is net negative at minus 16 per year while overseas migration adds 12, leaving a combined net drain of approximately 4 per year. The gentrification score of 34 is classified as early signs, supported by the 4.8 percentage point university advantage over national figures, though the broader population data does not yet show strong reinvestment signals. Affordability has been stable, moving from 44.6% in 2011 to 45.8% in 2021.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+12
Net Internal / yr
-16
Gentrification Signal
Not gentrifying
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Norwood compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Norwood a good suburb to live in?
Norwood ranks at IRSD decile 6 and IRSAD decile 5 nationally, placing it in the moderate-advantage range above the national median on relative disadvantage. Housing costs are manageable, with mortgage-to-income at 21.5% and rent-to-income at 22.2%. The suburb suits owner-occupiers who prefer a quiet, established area with 88.3% detached house stock, though car dependency is high at 87.4% of commuters.
What is the median house price in Norwood?
The median house price is $670,000 as of YTD 2026, up from $639,000 in 2024. The 30-year CAGR is 6.0% from $117,500 in 1996. Current prices are 6.9% below the 2022 peak of $720,000, and monthly mortgage repayments average $1,343 at current rates.
What schools are in Norwood?
No schools are recorded inside the Norwood boundary in this dataset. Families typically access schools in adjacent Launceston suburbs. The local population is relatively well educated, with 34.9% holding university qualifications, which is 4.8 percentage points above the national average.
Is Norwood safe?
Detailed crime statistics are not available for Norwood in this dataset. As an indirect indicator, the suburb scores IRSD decile 6, placing it above the national median on relative disadvantage, which generally correlates with lower crime exposure. Only 9.9% of residents (371 people) need daily assistance, and the volunteering rate of 19.1% points to a cohesive community.
Is Norwood good for property investment?
The 30-year CAGR of 6.0% supports a long-run capital growth case, but current conditions require caution. The vacancy rate of 6.4% is elevated, and weekly rent of $320 against a $670,000 median implies a gross yield near 2.5%, low by regional standards. Net population is slightly negative at minus 4 persons per year, limiting rental demand growth.
How is Norwood's population changing?
Population is effectively flat, declining 0.1% per year. Historical data shows a drop from 3,985 in 2023 to 3,844 in 2025. Internal migration is net negative at minus 16 per year, partially offset by overseas arrivals of plus 12. Medium forecasts project the population stabilising near 3,944 to 3,963 through 2031. The suburb profile is aging, with the senior share up 5.8 points over the decade.
What industries employ residents in Norwood?
Healthcare is the largest sector at 26.2% of workers (292 people), more than double the second sector, Education at 16.7% (186 workers). Construction accounts for 7.9%, and Professional/Tech and Public Admin each contribute 7.1%. The full-time employment rate is 58.3% and the unemployment rate is 4.7%.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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