Property investors who have had real estate in Wattle Park, 5066 should be relatively unhappy with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -0.70%
Taking the average capital gain, or increase in median house value, Wattle Park,5066 has racked up an average of -0.70% over the period. This ranks it number 2001th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Wattle Park is $814250, with sellers offering an average of -5.82% off the asking price.
Situated 7.10km from the CBD, Wattle Park is one of Burnside localities in the postcode 5066.
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.