SA has seen average median house prices change by 2.10% which means that Royal Park, 5014 has done well for property investors by showing a capital gain of 3.57% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Royal Park comes in at number 96th in SA.
The most recent median price for Royal Park is $435000, with sellers offering an average of -5.51% off the asking price.
On average over the past year, suburb has had 4.25 sales per month, which equates to 51 per year.
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.