Across a shorter period, Bedford Park, 5042 has seen a median price increase of 0.60% over the last quarter.
A $382.5 per week rent on the median house gives suburb investors a gross yield of circa 3.93%, without taking into account capital value appreciation, which has been averaging out at 1.77%.
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Things get tight
Median house price: $490,000
Vacancy rate: 2.2%
Three-year growth: 12.6%
Residents love the suburb of Bedford Park in the south of Adelaide for its safety, convenience and excellent views from the nearby hills.
The suburb is home to Flinders University and to the Flinders Medical Centre; thus, it’s a perfect residential spot for students and medical personnel. Marion shopping centre is in the vicinity, along with restaurants. Sturt Creek runs close to the suburb, and a local reserve highlights the abundance of nature here. The community-oriented feel also makes Bedford Park an ideal place to bring up a family.
Rental vacancies in this suburb tightened perceptibly in the 12 months to January 2019 as the average vacancy rate went down from 3.5% to 2.2%. This is good news for those looking to capitalise on the convenience. Rent rates are reasonable at an average of $360 per week.