Tea Tree Gully is in the bottom 40% in SA when comparing median price capital growth over the last year. Tea Tree Gully gave property investors a disappointing capital gain figure when compared to the rest of the state, with 0.00%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Tea Tree Gully has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -4.53% to buyers in Tea Tree Gully at the moment, which is less than average for the rest of SA.
On average over the past year, suburb has had 4.50 sales per month, which equates to 54 per year.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 4.37%, without taking into account capital value appreciation, which has been averaging out at 5.18%.
Located at the edge of the Adelaide foothills, Tea Tree Gully's large blocks offer plenty of potential for sub-dividers and renovators looking to manufacture value. Renowned schools, fine dining, large scale shopping and pleasant recreational walking tracks make the suburb attractive to investors and owner-occupiers alike.
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The last decade has seen many of the older properties in the area knocked down and rebuilt into double blocks, creating villa or courtyard allotments.Full summary
Selling points: Tea Tree Gully is in a beautiful part of Adelaide, approximately 19km from the CBD, on the edge of the foothills.The average home is about 40 years of age with a price of around the mid $300,000 mark, offering investors a good return.
Most sought after properties: The most popular area of Tea Tree Gully is a development on land once owned by Angoves Winery.This was developed in the mid-nineties with prices now ranging from $400,000 to $700,000.
Most common properties: Three to four-bedroom homes on 600-700sqm blocks.
Top amenities: The area boasts Banksia Park International High School, Newmann’s Nursery (recently voted Australia’s top garden centre), numerous fine dining and casual restaurants and many walking tracks, with wonderful views of Adelaide throughout Anstey Hill Recreation Park.
Local industry and business: The major hub of the area is the Westfield Shopping Centre (Tea Tree Plaza) at Modbury, which is not only a major employer but provides fast, efficient transport to the CBD.
Recent changes: The area has certainly changed over the past 10 years, with many older brick homes being demolished and blocks split into two, creating villa or courtyard allotments.
Best streets: The best areas to buy in are located slightly higher up the hill in the suburb, as they give wonderful views of the city and coastline.
Public transport: The local transport is the best in Adelaide, with an OBahn (bus) track running along the River Torrens into the CBD from Tea Tree Plaza.The 14km is covered in about 15 minutes at peak hour, making the area very popular for people working in the CBD.
Main arteries: North East Road, which runs through the heart of Tea Tree Gully, provides easy access to the Barossa Valley and many beautiful Adelaide Hills towns.
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0411 428 668