Property investors who have had real estate in Rosebery, 0832 should be unhappy with this NT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -6.00%
Over the longer term, Rosebery has seen property prices show investors a -2.08% return over the last 3 years. This is worse than over the last 12 months
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.59% offered to property buyers. Sellers in Rosebery itself are offering an average vendor discount of -7.42% to real estate investors.
Using the current median advertised rental of $600 and the average annual increase in value of a median property of 22.20%, investors should hope to achieve an overall return of 5.31%
Rosebery is an average performer in NT when comparing median price capital growth over the last year. Rosebery gave property investors a average capital gain figure when compared to the rest of the state, with -1.42%.
Taking the average capital gain, or increase in median house value, Rosebery,0832 has racked up an average of -1.42% over the period. This ranks it number 1297th in the whole country for real estate investors looking at median house price increases.
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.