12 Olive St, Newstead is a 6 bedroom, 1 bathroom House with 4 parking spaces and was built in 1967. The property has a land size of 804m2 and floor size of 115m2. While the property is not currently for sale or for rent, it was last sold in May 2019.
This amazing and unique property is located in one of Launceston's premiere residential suburbs. Situated on a flat 793 sqm block the aspect and feel is sunny and private. The home offers 4 bedrooms and 3 bathrooms in total.
Set behind a high stone fence - enter the gate and the story unfolds. The original building was constructed in 1967 and was added to from 2007 creating a larger kitchen, separate dining and additional living area (total 185.5 sqm). A self-contained one bedroom (83.6 sqm) bungalow also has been built at the rear of the property, offering an ideal granny flat or profitable Airbnb opportunity. While the original structure is of brick veneer, the new structure is of solid stone wall lined with gyprock. This creates an ambience from another time - blending old and new brilliantly.
Since moving in, the current owners have been on a renovation blitz, investing additional funds into external and internal upgrades. Both buildings have been re-roofed, new PVC plumbing has been installed to connect properly to the sewerage mains, all doors and windows have been replaced - some windows being Tas Oak, in sync with the stone structure, while the aluminium front windows are double glazed.
The size of Newstead is approximately 3.9 square kilometres. It has 8 parks covering nearly 15.1% of total area. The population of Newstead in 2011 was 4,968 people. By 2016 the population was 5,366 showing a population growth of 8.0% in the area during that time. The predominant age group in Newstead is 10-19 years. Households in Newstead are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Newstead work in a professional occupation. In 2011, 66.2% of the homes in Newstead were owner-occupied compared with 64.4% in 2016.
Newstead has 2,733 properties. Over the last 5 years, Houses in Newstead have seen a 64.04% increase in median value, while Units have seen a 53.71% increase. As at 31 October 2024:
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