Over the last year, property investments in Wattle Park, 5066 have given investors a capital gain of -2.34%. This compares badly with the 2.82% for SA as a whole.
Over the longer term, Wattle Park has seen property prices show investors a 17.73% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -6.20% to buyers in Wattle Park at the moment, which is less than average for the rest of SA.
In the last year 36 properties changed hands in Wattle Park, which puts it as the 256th most active market in SA when comparing the number of sales per suburb.
Advertised rents are around the $585 mark per week – giving a return of 3.85% based on the median price in Suburb
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.