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:
Rental market tightens
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.