Giving property investors a an unimpressive capital gain of -1.83% for the last year, Wattle Park, 5066 is the 3283th highest performer in Australia in this respect.
Over the longer term, Wattle Park has seen property prices show investors a 11.03% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Wattle Park is giving property investors an average Vendor Discount of around -5.68%. This puts suburb at number 218th in SA when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Wattle Park the average time real estate has been on the market is 77.94 days.
A $577.5 per week rent on the median house gives suburb investors a gross yield of circa 3.73%, without taking into account capital value appreciation, which has been averaging out at 3.28%.
Wattle Park sits around 8km directly east of the Adelaide CBD, in between Rosslyn Park and Skye, and it’s something of a prestige location, notes Herron Todd White South Australia director Jarrod Harper.Full summary
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Wattle Park sits around 8km directly east of the Adelaide CBD, in between Rosslyn Park and Skye, and it’s something of a prestige location, notes Herron Todd White South Australia director Jarrod Harper.
“This is a semi foothills location with 1960s and 1970s homes of good proportions. There are views from many houses, and the distance to Adelaide's top schools and prestige inner eastern shopping is minimal,” he says.
He admits that the median price for houses here (over $700,000 according to RP Data) will put off most investors, but notes that – for those that can afford it – now’s a good time to buy below median priced property.
“The median house price in the area will be falling at the moment so now is a good time to buy and hold in the area. Houses are often over $750,000 in price, but the lower end in the locality is the one to watch,” he explains.
Poor rental yields will also cause many investors to gulp, so if serviceability is an issue then this is perhaps a market to steer clear of until its price correction brings yields up to a more palatable level.