2/38 Malakoff Street

Somerset TAS 7322

The size of Somerset is approximately 27 square kilometres. It has 8 parks covering nearly 1.3% of total area. The population of Somerset in 2011 was 3,974 people. By 2016 the population was 3,885 showing a population decline of 2.2% in the area during that time. The predominant age group in Somerset is 50-59 years. Households in Somerset are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Somerset work in a trades occupation. In 2011, 71% of the homes in Somerset were owner-occupied compared with 69.3% in 2016.

Somerset has 2,046 properties. Over the last 5 years, Houses in Somerset have seen a 74.73% increase in median value, while Units have seen a 66.67% increase. As at 30 September 2024:

• The median value for Houses in Somerset is $442,428 while the median value for Units is $359,435.
• Houses have a median rent of $400 while Units have a median rent of $253.