Situated around 3km from Adelaide’s centre, next to Victoria Park Racecourse and Glenside Hospital, Dulwich is an affordable suburb in the mainland’s most affordable capital. Its median unit price is just below the citywide figure, and looks pretty favourable compared to neighbouring Glenside, Rose Park and especially Eastwood.
“It’s a small suburb right on the city fringe,” notes Toop & Toop sales partner Simon Veitch. “But it’s undervalued compared to its neighbours such as the well regarded Rose Park.”
He adds that Dulwich’s name currently doesn’t carry the prestige that some of its neighbours does, but that once the ripple effect takes hold and it starts to make a name for itself its prices should start to come into line with the surrounding area. In the meantime, it offers some good opportunities for investors.
Its unit market in particular seems to be doing well for itself on the rental front, adds RP Data senior research analyst Cameron Kusher.
“The suburb is located adjacent to the CBD and is close to the Glenside hospital, creating additional rental demand,” he says.
“The suburb has its own neighbourhood local shopping and the proximity to the city centre means retail and dining is abundant in the nearby area. Indicative gross rental yields are also quite strong at the moment.”
Veitch adds that the overseas student market is particularly strong in Dulwich, with smaller one- to two-bedroom 1960s units renting well. These can be bought for around $300,000 and rent for $250 to $300 per week, he estimates.
“There are a string of units along the main Fullarton Road,” he says. “And these are doing well with students.”
Dulwich is one of the most sought-after suburbs in South Australia. Its wide streets and renovated homes have been an attraction to upmarket buyers. Dulwich's close location to the Adelaide city centre, grand old houses and leafy tree-lined streets make it an attractive and sought-after suburb. It is built adjacent to Victoria Park; a former horse racing track now being transformed into one of Adelaide’s largest public parks. The suburb itself has a unique “village” feel with a centre of small specialist shops.
Most sought-after properties:
The older Bungalow and Villa styled homes are the most sought after. There are several groups of units and flats on the main through roads of the suburb. Recent refurbishment of some older properties has seen updating of the suburb without changing the character of the area. This has kept demand high for quality, old style homes.
Most common properties:
Traditional Bungalow and Villa styled homes.
The suburb is centred on the Dulwich shops, a charming strip of coffee outlets, bakery, clothes shops and the upmarket home wares and fashion hub “One Rundle Trading Co”.
Local industry and business:
Many business offices are based on the edge of Dulwich on Fullarton Road. These are mostly made up of service industry offices such as accountants, consultants and governing bodies.
Ongoing refurbishment and renewal of older homes without spoiling the character of the properties has maintained the status of the suburb. The Victoria Park redevelopment has added value to the suburb.
Major bus routes on the arterial roads surrounding the suburbs with a route through the centre of the suburb running along Dulwich Avenue