Royal Park is a residential suburb in South Australia, sitting within the 5014 postcode. Located approximately 10km from the Adelaide CBD, the suburb is serviced by 1 schools and benefits from solid transport and amenity access.
Royal Park has a population of approximately 3,453, a median age of 39, a median weekly household income of $1,577. With 67% owner-occupier rate, this is predominantly a homeowner market, which supports long-term price stability. Across the broader LGA, 43.4% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (16.2%), Retail Trade (10.1%), Education and Training (9.2%).
The current median house price in Royal Park is $845,000. The suburb has delivered strong average annual growth of 13.4% over the past five years, outperforming many comparable markets. In the past 12 months, prices have increased 6.96%.
Properties in Royal Park spend an average of 36 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.25%. With inventory levels at just 0.91 months, supply is tight relative to demand. The average vendor discount is -4.7%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Royal Park is $650. Gross rental yield is 4%, which is typical for a growth-oriented market. The vacancy rate of 0.57% signals very strong rental demand. Rents have grown 9.24% over the past 12 months.
The broader local government area is forecast to grow from 126,447 to 131,947 residents by 2031 (4.3% growth).
Explore other suburb profiles in the area: Alberton, SA, Queenstown, SA, Port Adelaide, SA, Rosewater, SA, Athol Park, SA.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Royal Park or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.