If you compare the increase in value of investment property in Rosebery, 0832 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NT suburb was 5.26%.
Comparing Rosebery,0832 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in Rosebery is giving property investors an average Vendor Discount of around -6.61%. This puts suburb at number 16th in NT when ranking the most discounted suburbs.
At number 3470 in a list of fastest selling suburbs, Rosebery is in the bottom 10% of suburbs in Australia with an average of days on market 115.89 for properties listed there.
Over the last year, property investments in Rosebery, 0832 have given investors a capital gain of -20.77%. This compares badly with the -8.18% for NT as a whole.
Over the longer term, Rosebery has seen property prices show investors a -33.97% return over the last 3 years. This is an improvement over the last 12 months
Rosebery, 0832’s gross rental yield is 6.83%
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For those investors that are looking for an alternative to Darwin CBD properties Raine & Horne Darwin general manager Glenn Grantham nominates Rosebery as one of a string of Palmerston’s newer suburbs that offer strong rental prospects.
“These are strong rental markets because they are family areas, which tend to attract long-term renters, while local defence force personnel, who operate from the nearby Robertson Barracks, also underpin the rental market,” he says, adding that Palmerston (and Darwin’s) rents are expected to ramp up this year.
“We haven’t seen an increase in median rents in quite a while, but we expect to see some significant hikes in 2012,” he says. “So now is a good time for investors to get their skates on.”
A scan of Rosebery’s listings on realestate.com.au reveals that single-storey, three-bedroom, brick houses are on the market for around the $480,000 mark, with their marketing campaigns often being targeted towards investors. Page visits for recent listings in Rosebery number in the low to mid hundreds.
The unemployment rate in the local SLA was measured at 1.5% according to ABS 2010 figures. Meanwhile, SLA population growth between June 2009 and June 2010 was an impressive 11.5%. Building approvals for houses dropped off from 181 to 123 during the same period, while unit approvals jumped from 216 to 254.
Rosebery is around a 30-minute drive from the Darwin CBD, along the Stuart Highway, while the bulk of the nearby shopping and amenities are 3km north in the Palmerston Shopping Centre.