If you compare the increase in value of investment property in Rosebery, 0832 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this NT suburb was -9.79%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Rosebery has fallen somewhat when compared to the 5 year average annual rate.
Rosebery, 0832 is offering NT ‘s 20th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this NT.
With the median price for a house in Rosebery being $530000 and the advertised rent reaching $560 the gross rental yield for property investors calculates out to be 5.49%
For those investors that are looking for an alternative to Darwin CBD properties Raine & Horne Darwin general manager Glenn Grantham nominates Rosebery as one of a string of Palmerston’s newer suburbs that offer strong rental prospects.Full summary
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For those investors that are looking for an alternative to Darwin CBD properties Raine & Horne Darwin general manager Glenn Grantham nominates Rosebery as one of a string of Palmerston’s newer suburbs that offer strong rental prospects.
“These are strong rental markets because they are family areas, which tend to attract long-term renters, while local defence force personnel, who operate from the nearby Robertson Barracks, also underpin the rental market,” he says, adding that Palmerston (and Darwin’s) rents are expected to ramp up this year.
“We haven’t seen an increase in median rents in quite a while, but we expect to see some significant hikes in 2012,” he says. “So now is a good time for investors to get their skates on.”
A scan of Rosebery’s listings on realestate.com.au reveals that single-storey, three-bedroom, brick houses are on the market for around the $480,000 mark, with their marketing campaigns often being targeted towards investors. Page visits for recent listings in Rosebery number in the low to mid hundreds.
The unemployment rate in the local SLA was measured at 1.5% according to ABS 2010 figures. Meanwhile, SLA population growth between June 2009 and June 2010 was an impressive 11.5%. Building approvals for houses dropped off from 181 to 123 during the same period, while unit approvals jumped from 216 to 254.
Rosebery is around a 30-minute drive from the Darwin CBD, along the Stuart Highway, while the bulk of the nearby shopping and amenities are 3km north in the Palmerston Shopping Centre.