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Novar Gardens, SA 5040
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,400,000
market range $750K-$1.6M
Median Unit
$755,000
Gross Yield (houses)
2.9%
1yr Growth (houses)
+10.3%
market range +7.5% to +20.0%
Investment snapshot for Novar Gardens
Novar Gardens has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Novar Gardens market and investor summary
In Novar Gardens, SA 5040, the median house sells for around $1.4M, on a gross rental yield of 2.9% for houses. House prices have moved +10.3% over the past year and +47.6% over three years. At 0.4% vacancy, it is a tight rental market that favours landlords.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 2.9% will not cover holding costs in the early years, so the case leans on price appreciation. Rental demand looks steady, with vacancy at 0.4% and a resident base that is not shrinking.
Living in Novar Gardens: people, income and schools
Novar Gardens has a resident population of roughly 2,508, and the area has been growing steadily, up about 7% over five years. At a median age of 45, it reads as skewed a little older, and 72% of homes are owner-occupied.
The typical household income runs to around $76,000 a year (about $1,470 a week). On socio-economic measures it ranks comfortably above the national middle (7 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 18.3 times local household income, so affordability is a genuine constraint on local buyers. Locally, around 36% of household income goes to mortgage repayments, a level usually flagged as mortgage stress.
Families have 44 schools within roughly 5km to choose from, and they test well above the national school average on ICSEA, a draw for education-focused families. Novar Gardens sits about 7.5 km from the CBD. It is fairly car-dependent; the suburb scores 18 for walkability and 7 for transit out of 100. Fixed broadband is delivered over the NBN's Hybrid Fibre Coaxial (HFC).
- Population
- 2,508
- +7% over 5yr
- Median age
- 45 years
- Median household income
- $76,000/yr
- Households renting
- 27%
- Family households
- 71%
- Socio-economic rank
- 7/10
- ABS advantage index
- Schools within 5km
- 44
- avg ICSEA 1108
- Unemployment
- 2.0%
- Distance to CBD
- 7.5 km
- Walk score
- 18/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Novar Gardens
No properties currently listed in Novar Gardens
Search Novar Gardens listings →Frequently asked questions about Novar Gardens
What should I check before investing in Novar Gardens?
Novar Gardens has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.3% gives a usable rent-to-price starting point. Capital growth of +10.3% in the past year shows strong recent price momentum. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Novar Gardens?
The median property price in Novar Gardens, SA 5040 is $1.4M for houses and $755K for units.
What rental yield does Novar Gardens show?
The gross rental yield in Novar Gardens is 2.9% for houses and 4.3% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Novar Gardens?
House prices in Novar Gardens are up 10.3% over the past year and up 47.6% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Novar Gardens?
The current vacancy rate in Novar Gardens is 0.4%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Novar Gardens?
Novar Gardens has a population of approximately 2,508 residents, with a median age of 45.
What schools are near Novar Gardens?
There are 44 schools within roughly 5km of Novar Gardens. Their average ICSEA sits well above the national mean of 1000, which points to a more advantaged school catchment. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Novar Gardens affordable to buy in?
A median house in Novar Gardens costs about 18.3 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Novar Gardens's population growing?
The population of Novar Gardens has grown about 7% over the past five years, an above-average pace. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Novar Gardens from the CBD?
Novar Gardens is about 7.5 km from the CBD.
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