Investment property in Rosebery has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -9.62%
Across a shorter period, Rosebery, 0832 has seen a median price increase of -7.85% over the last quarter.
Property investors looking for a bargain in Rosebery should be aiming for at least -7.59% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 3.92 sales per month, which equates to 47 per year.
Rosebery is 25th on a list of best yielding suburbs for rents in NT with a 5.53% return
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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.