Suburb Profile Report for Ridgehaven SA (5097)

Ridgehaven House: Median price $390,000, Annual capital growth 2.44%, Number of sales 55, Weekly median advertised rent $355

Ridgehaven Unit: Median price $257,000, Annual capital growth -0.40%, Number of sales 12, Weekly median advertised rent $298

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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Ridgehaven, 5097 ranked 154th in SA when comparing growth in median property values or capital gain over the last 12 months. Ridgehaven is one of 853 in our list for SA

Across a shorter period, Ridgehaven, 5097 has seen a median price increase of 2.63% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that Ridgehaven is offering property investors an average of -6.73. This rate of discount on properties puts Suburb at number 263th in terms of most discounted suburbs in SA

Situated 15.34km from the CBD, Ridgehaven is one of Tea Tree Gully (C) localities in the postcode 5097.

Property value increases in Ridgehaven have tracked close to the SA average of 1.05% over the last 12 months.

Comparing Ridgehaven,5097 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Ridgehaven, 5097’s gross rental yield is 6.02%

Information supplied by:


April 2019

M
O

W
E

Rental market tightens

Postcode: 5097

Median unit price: $269,000

Vacancy rate: 0.5%

Three-year growth: 1.5%

One of the north-eastern suburbs located 15km from the Adelaide CBD, Ridgehaven was first developed in the 1950s, with the majority of housing construction happening over the 1960s.

Tenants will struggle to find properties open for rent here, as the vacancy rate tightened from 0.8% to 0.5% in the year to March 2019. The weekly average rent rate as of January 2019 comes in at $300, with investors able to reap high returns of 5.8% on average.

Ridgehaven Primary School is situated on Milne Road, which is the northern boundary of the suburb. Shopping and entertainment facilities can also be found in each corner of Ridgehaven, and the O-Bahn transport system is close by. Moreover, Henley Beach is less than an hour away by car, and there are cycling and walking paths lining the suburb and passing through the local parklands.

Metrics i HOUSE UNIT
$390,000 $257,000
2.63% -4.01%
4.00% 0.19%
2.44% -0.40%
$355 $298
55 12
4.73% 6.02%
40.75 N/A

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 3880
Median household income ($/weekly) 964
Median age of persons 42
Median housing loan repayment ($/monthly) 1430
Average household size 2.3
  • Census Count Percent(%)
    25-34 years 501 12.9
    35-44 years 519 13.4
    45-54 years 419 10.8
    55-64 years 456 11.7
    65-74 years 431 11.1
    Others 1555 40.1
    Age Group
    Census Count Percent(%)
    Registered Married 1451 49.5
    Not Married 1215 41.4
    Defacto Relationship 267 9.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 2825 76.0
    Greece 50 1.3
    Japan 39 1.0
    United Kingdom 449 12.1
    Other 108 2.9
    Others 245 6.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 20 0.6
    Christianity 2323 66.9
    Islam 19 0.5
    Other Religious Groups 39 1.1
    No Religion 1051 30.3
    Others 19 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 154 10.4
    $400-$599 220 14.8
    $600-$799 175 11.8
    $800-$999 159 10.7
    $1,500-$1,999 181 12.2
    Others 598 40.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1279 41.7
    Employed, worked full-time 1050 34.2
    Employed, worked part-time 539 17.6
    Employed, away from work 108 3.5
    Unemployed, looking for work 94 3.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 274 16.1
    Technicians & trades workers 300 17.7
    Community & personal service workers 171 10.1
    Clerical & administrative workers 291 17.1
    Labourers 173 10.2
    Others 490 28.8
    Occupation
    Census Count Percent(%)
    Pre-school 47 6.2
    Infants/Primary 315 41.5
    Secondary 162 21.3
    Technical or Further Educational Institution 84 11.1
    University or other Tertiary Institutions 123 16.2
    Others 28 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3044 83.9
    Flat, unit or apartment 500 13.8
    Semi-detached, row or terrace house, townhouse 83 2.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 614 39.4
    Fully owned 546 35.0
    Rented 334 21.4
    Other tenure type 65 4.2
    Tenure Type
Census 2011, ABS
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