Question 1

Is Redwood Park a nice place to live?

Accepted Answer

Redwood Park is a quiet, established north-eastern Adelaide suburb with tree-lined streets and mostly single-storey brick and weatherboard homes, alongside a steady thread of renovated and newer infill properties. It has a residential, family-oriented feel and is popular with young families, professionals and downsizers who value gardens and garages. The suburb is home to 5,367 people and families make up the bulk of households, with couple families with children 43.5% and, together with couple families without children (41.4%), accounting for 84.9% of families. Owner-occupation is dominant, at about 88.4% of homes.

Everyday life centres on nearby local parks and reserves, small shopping strips and straightforward public bus access to larger retail and service hubs. Redwood Park is also included in several council and state infrastructure programs affecting the City of Tea Tree Gully, from sewer-network works to nearby hospital and health-precinct redevelopment, transport facilities and local park and streetscape projects. Whether it suits you will depend on if a calm, suburban setting with easy links to amenities fits what you want.

Question 2

Is it expensive to live in Redwood Park?

Accepted Answer

On these figures, buying a house in Redwood Park at a median price of $885,500 works out to about 9.3 times a typical local household's annual income as recorded at the last Census, which places buying well above local incomes at that time.

Renting a house here, at about $630 a week, would take roughly 34.4% of a typical local household's weekly income at the last Census, a sizeable share. If you are considering the suburb, the rent share is the most relevant number for renters and the price multiple is the key measure for buyers; whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Redwood Park a good place to invest?

Accepted Answer

Over the past 12 months the median house value in Redwood Park rose 13.4%, a strong increase, while house rents climbed 5.0%, a solid gain. That means capital growth for houses outpaced rental growth this year; if rental income is your priority, the rent figure is the one that matters. Whether that balance fits your objectives and circumstances is for you to decide.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$886K	N/A
Change in value Past 12 months	13.4%	N/A
Sold Past 3 months	13	N/A
Median days on market Past 12 months	51	N/A
Average rent Past 12 months	$630	N/A
Change in rent Past 12 months	5.0%	N/A

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