Investment property in Rocklea has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -0.38%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Rocklea has increased when compared to the 5 year average annual rate.
The most recent median price for Rocklea is $388500, with sellers offering an average of -4.68% off the asking price.
Advertised rents are around the $350 mark per week – giving a return of 4.68% based on the median price in Suburb
Rocklea was one of the worst hit areas in the 2011 flooding, and last year the area recorded a massive 22% drop in prices as a good deal of damaged homes came on the market. However, there are signs that the market is finally stabilising.Full summary
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Rocklea was one of the worst hit areas in the 2011 flooding, and last year the area recorded a massive 22% drop in prices as a good deal of damaged homes came on the market. However, there are signs that the market is finally stabilising.
“We were all affected,” says Local Ray White real estate agent Diane Sims, “and we’re still getting over it, but now things are finally starting to turn. For it being only 9km from the CBD, it’s priced exceptionally well. It also has transport, trains, buses and it’s close to the university. But the big draw is that it’s close to the CBD and extremely affordable.”
Best street(s): Bale Street: One of several older, more established streets in the southwest part of the suburb.