Renters in Suburb are facing rents around $22360 per annum or $430 every week.
Property value increases in Kensington have tracked higher than the SA average of -0.89% over the last 12 months.
While Kensington,5068 ranked number 11th in SA for increase in median house value (annualised) increase, it is ranked 13th over the last 5 years.
With the median price for a house in Kensington being $545000 and the advertised rent reaching $330 the gross rental yield for property investors calculates out to be 3.15%
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Just east of central Adelaide, within a 5km radius of the CBD, Kensington is worth keeping an eye on thanks largely to its excellent growth performance and relative affordability.
On the affordability stakes, nearby Kensington Park, Beulah Park and Norwood all have higher median house prices than Kensington’s.
Being that much further out from the CBD than more central Adelaide suburbs, such as Norwood, Kensington’s houses have a price point and block size that appeals to family buyers, notes Toop & Toop’s Simon Veitch. Schools too are a big drawcard.
“It’s further from the city, but it’s close to good schools,” he says. “Certain public school zones are popular in Adelaide, so families come here to get their kids into a good school. There are a couple of good private schools nearby too.”
The suburb offers some desirable and beautiful old character homes, as well as some newer property, he adds, with block sizes reaching 600 to 700m2.
The SLA’s unemployment rate was 3.5% at last count, and renters make up around a quarter of Kensington’s population.