Fraud Blocker

Novar Gardens, SA 5040

Home » SA Real Estate Data » City of West Torrens, SA » Novar Gardens, SA 5040

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Novar Gardens, SA 5040 located in Adelaide to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

Sign up to see the score

Capital Growth RCS™

Sign up to see the score

Cashflow RCS™

Sign up to see the score

FREE Investment Property Checklist

Secure your golden ticket to property investment success! Get our meticulously crafted Property Investment Checklist upon subscribing to our newsletter. It’s jam-packed with valuable insights from prime locations to specific building nuances.

Essentials
No Price Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

No Rent Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

Upgrade to Personal Plan to see Yield data.
Yield chart
Upgrade to Professional Plan to see Growth Rate Cycle data.
GRC chart
Fundamentals
Upgrade to Personal Plan to see IRSAD data.
IRSAD chart
Upgrade to Personal Plan to see U|H and R|O data.
Renters to owners pie chart
Upgrade to Personal Plan to see U|H and R|O data.
unit to houses pie charts
Upgrade to Personal Plan to see Demand Profile data.
Demand chart
Upgrade to Professional Plan to see Affordability Index data.
Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

Upgrade to Professional Plan to see Stock On Market trend.
SOM chart
Upgrade to Professional Plan to see Inventory trend.
Inventory chart
Upgrade to Professional Plan to see Building Approvals trend.
Inventory chart
Upgrade to Professional Plan to see Hold Period trend.
Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

Upgrade to Professional Plan to see Days On Market trend.
DOM chart
Upgrade to Professional Plan to see Vacancy Rate trend.
Inventory chart
Upgrade to Professional Plan to see Search Index trend.
Index chart
Upgrade to Professional Plan to see Clearance Rate trend.
Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

Have a question? You can either leave a comment below or post it on our forum.

0 thoughts on “Novar Gardens, SA 5040”

  1. The total adult population (15 years or older) of Novar Gardens 5040 SA is 2,110, with a median age of 45. Of those, 50.62% are married, 11.00% are divorced or separated, 32.51% are single and 5.64% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $7,824. The median monthly mortgage repayment for households in this suburb is $2,060 which is 26.33% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Novar Gardens (5040) is situated in South Australia, with an estimation of 1121 households. An in-depth look into the property market statistics for Q3 of 2023 reveals house prices typically stand at $1,057,617. The median weekly rent is recorded at $560, generating an indicative yield of 2.75%. Although this yield is slightly below the 3% threshold investors often consider, the low renter-to-owner ratio of 27%, and the surprisingly low units-to-houses ratio of 2%, make this suburb a potential area of interest for property investment.

    In terms of socio-economic status, Novar Gardens has a promising IRSAD score of 1015 out of 1217, indicating well-managed access to economic resources, and above-average income levels. The affordability index is a point of consideration, however, as it sits at 53 years – signifying significantly decreased affordability in terms of property ownership, factoring current interest rates, median family income, and property prices.

    Supply metrics paint a favourable picture for yield-focused investors. stock on market Percentage for houses is calculated at 0.62%, placing it within a neutral range. The inventory level for houses is slightly high at 4.2 months, suggesting a slightly higher supply. Nevertheless, the relatively low building approvals Ratio of 1.34% eases concerns over potential oversupply.

    Furthermore, Novar Gardens holds a strong demand record. The average number of days houses remain on the market is just 15 – indicating high demand. This is supported through the vacancy rate of 0.67%, under 1%, pointing to a high-demand market. Lastly, the buy search index is stable at 5, representing a good balance of curiosity and commitment among potential house buyers.

    As always, staying abreast of changing market conditions and continued monitoring of these metrics will prove vital in making sound investment strategies. Despite some metrics being in unfavourable ranges, the overall trend and data provided offer a mixed basket of indicators that lean towards favourability in this location. Suburbs like Novar Gardens demonstrate the importance and functionality of HtAG Analytics’ Relative Composite Score (RCS), which condenses over 80 metrics for a clear, simplified analysis.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

Leave a comment