Property value increases in Rose Park have tracked higher than the SA average of 3.35% over the last 12 months.
Rose Park,5067 has offered an average of 15.57% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -8.47% to buyers in Rose Park at the moment, which is less than average for the rest of SA.
At number 468 in a list of fastest selling suburbs, Rose Park is in the TOP 40% of suburbs in Australia with an average of days on market 59.2 for properties listed there.
Rose Park is 188th on a list of best yielding suburbs for rents in SA with a 3.21% return
It’s certainly not the cheapest suburb in all of Adelaide – with a median of more than $1m, Rose Park is one of the city’s most prestigious suburbs.Full summary
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It’s certainly not the cheapest suburb in all of Adelaide – with a median of more than $1m, Rose Park is one of the city’s most prestigious suburbs.Close
But the neighbourhood offers a range of villas and period homes priced from around half a million dollars, which are proving to be popular with owner-occupiers and investors alike, says Hamish Will, auctioneer and salesperson at Harcourts Brock Williams in Adelaide.
“The top end of the market is going very strong. It’s definitely a vendors’ market, as there are a lot of buyers ready to buy, including a mix of locals, interstate and eastern seaboard buyers, as well as buyers from offshore in China and India,” explains Will.
“They love a villa – a Victorian villa in a city fringe location is in high demand. I’m marketing one in Hewitt Avenue, Rose Park, at the moment and we’re just getting rushed off our feet.”
Auctions have proven a popular strategy for vendors keen to secure a strong price, but some two- and three-bedroom homes in the area are still offered for private treaty sale.
“There is a shortage of stock and a real supply and demand issue,” Will adds. “There are more people than houses, so I think it will continue to go very strongly.”