Property investors who have had real estate in Royal Park, 5014 should be relatively unhappy with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -1.41%
Royal Park,5014 has offered an average of -1.41% return per annum in house price rises to property investors over the last three years.
Advertised rents are around the $380 mark per week – giving a return of 4.70% based on the median price in Suburb
On average over the past year, suburb has had 0.83 sales per month, which equates to 10 per year.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of -3.91%, investors should hope to achieve an overall return of 5.06%
Information supplied by:
Stock falls in parkland suburb
Median unit price: $372,500
Stock on market: -28.10%
12-month growth: 24.17%
With the limited demand in Adelaide, Royal Park has responded by lowering the supply in the local market, especially when it comes to houses.
This reduced supply could have amped up apartment values, as they’ve soared by over 24% over the past 12 months leading up to May 2017. Even with this increase, such properties are still affordable at a median price of just $372,500.
Several reserves are located in Royal Park, such as Carnegie Reserve and Royal Reserve. Hendon Primary School is situated here as well. In addition, the suburb is less than 30 minutes’ drive from Adelaide, which increases its appeal with commuters. Adelaide’s CBD can also be reached by taking the 118 bus from the stop at Tapleys Hill Road.