Suburb Profile Report for Norwood SA (5067)

Norwood House: Median price $850,000, Annual capital growth 5.51%, Number of sales 69, Weekly median advertised rent $480

Norwood Unit: Median price $513,000, Annual capital growth 4.30%, Number of sales 109, Weekly median advertised rent $380

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Norwood, 5067 ranked 372th in SA when comparing growth in median property values or capital gain over the last 12 months. Norwood is one of 853 in our list for SA

While Norwood,5067 ranked number 202th in SA for increase in median house value (annualised) increase, it is ranked 54th over the last 5 years.

Property buyers and investors in Norwood 5067 should be seeing an average reduction in asking price of around -7.97% . This means that Norwood is holding prices well when compared to other suburbs in SA.

Norwood is 368th on a list of best yielding suburbs for rents in SA with a 2.94% return

Investment property in Norwood has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.01%

Taking the average capital gain, or increase in median house value, Norwood,5067 has racked up an average of 3.01% over the period. This ranks it number 829th in the whole country for real estate investors looking at median house price increases.

Vendor discounting in Norwood is giving property investors an average Vendor Discount of around -3.80%. This puts suburb at number 145th in SA when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Norwood the average time real estate has been on the market is 51.41 days.

Using the current median advertised rental of $380 and the average annual increase in value of a median property of 4.30%, investors should hope to achieve an overall return of 3.85%

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Norwood is a well-known and cosmopoiltan suburb, around 3km from the Adelaide CBD.

Full summary

Norwood is a well-known and cosmopoiltan suburb, around 3km from the Adelaide CBD.

“There are lots of cafes, shops and restaurants on the parade that are all within walking distance, and you can walk to the CBD in five to 10 minutes," explains Toop & Toop’s Simon Veitch

In terms of demographics, he explains that Norwood attracts a wide range of people who are attracted to the combination of its lifestyle and accessibility. These include retirees, young professionals and families.

Being so close to the CBD he adds that houses tend not to be on large blocks, but there are some beautiful small- to medium-sized character homes that rent well to families in particular.

“The houses are generally three-bedroom,” he adds. “And there’s a good price range. I sold one to an investor recently in the low 600s, and that will rent out for $450 to $500 per week.”

In terms of renovation prospects, owners do well by renovating or extending character homes. The newer 1950s and 1960s homes that aren’t protected by heritage laws tend to be demolished and replaced with newer real estate.

“Developers will build a new home, or a pair of homes,” says Veitch. “These attract retirees in particular because they like newer homes that don’t have so much of a garden to maintain."

Close
HOUSE UNIT
$850,000 $513,000
0.89% 1.58%
-3.68% 3.01%
5.51% 4.30%
$480 $380
69 109
2.94% 3.85%
80.95 51.41

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
Find a mortgage broker in Norwood SA
Demographics
Total population 5802
Median household income ($/weekly) 1329
Median age of persons 38
Median housing loan repayment ($/monthly) 2000
Average household size 2
  • Census Count Percent(%)
    20-24 years 597 10.3
    25-34 years 1235 21.3
    35-44 years 765 13.2
    45-54 years 783 13.5
    55-64 years 748 12.9
    Others 1674 28.9
    Age Group
    Census Count Percent(%)
    Not Married 2396 52.8
    Registered Married 1557 34.3
    Defacto Relationship 589 13.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 3792 69.9
    Croatia 137 2.5
    Japan 135 2.5
    United Kingdom 390 7.2
    Other 219 4.0
    Others 751 13.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 152 2.9
    Christianity 2797 54.2
    Hinduism 78 1.5
    Other Religious Groups 56 1.1
    No Religion 2021 39.2
    Others 57 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 212 8.6
    $600-$799 201 8.1
    $1,250-$1,499 202 8.2
    $1,500-$1,999 306 12.4
    $2,500-$2,999 301 12.2
    Others 1249 50.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2114 43.3
    Not in the labour force 1446 29.6
    Employed, worked part-time 991 20.3
    Unemployed, looking for work 168 3.4
    Employed, away from work 159 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 474 14.5
    Professionals 1319 40.4
    Community & personal service workers 300 9.2
    Clerical & administrative workers 442 13.5
    Sales 267 8.2
    Others 462 14.2
    Occupation
    Census Count Percent(%)
    Infants/Primary 275 21.6
    Secondary 162 12.7
    Technical or Further Educational Institution 126 9.9
    University or other Tertiary Institutions 611 48.0
    Other type of educational institution 53 4.2
    Others 45 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2219 42.6
    Semi-detached, row or terrace house, townhouse 2133 41.0
    Flat, unit or apartment 851 16.3
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1268 47.7
    Fully owned 747 28.1
    Being purchased 601 22.6
    Other tenure type 45 1.7
    Tenure Type
Census 2011, ABS
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