At number 2936th in the list of Australian suburbs ordered by increase in median house value over the last year, Port Adelaide, 5015 is in the BOTTOM 30% with a property value increase of -0.35% recorded in median house prices.
The five-year average increase in median property values for Port Adelaide,5015 has given property investors a potential capital gain of -26.02% across each of those five years.
Renters in Suburb are facing rents around $4500 per annum or $375 every week.
Port Adelaide, 5015 ranked 143th in SA when comparing growth in median property values or capital gain over the last 12 months. Port Adelaide is one of 853 in our list for SA
When looking at the potential capital gains offered to property investors over the last 3 years, Port Adelaide comes in at number 63th in SA.
A $320 per week rent on the median house gives suburb investors a gross yield of circa 4.92%, without taking into account capital value appreciation, which has been averaging out at 4.64%.
Port Adelaide may not have taken off the way investors had hoped when grand plans were announced for $1.5bn in redevelopments several years ago, but it could still be set for the type of growth that saw the regeneration of industrial suburbs in Melbourne and Sydney.Full summary
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Port Adelaide may not have taken off the way investors had hoped when grand plans were announced for $1.5bn in redevelopments several years ago, but it could still be set for the type of growth that saw the regeneration of industrial suburbs in Melbourne and Sydney.
“It’s industrial, but so were places like the Docklands [Melbourne] and places in Sydney, like the wharfs that they’ve turned around,” says Angelo Mena, managing director of Adelaide Property Finders.
“People are screaming about Christies Beach because it’s $300,000 to $350,000 to get into a reasonable place there and you’re close to the beach, but you’re 30-35km from the city. Port Adelaide is much closer.”
At around 15km from the CBD along Port Road, Port Adelaide is certainly accessible by car, and is just 20 minutes from Adelaide station by train.
The rental market is tight, with vacancy rates having however around the 2% mark since August 2010, according to SQM Research, and the average yield for houses is relatively strong at more than 5%.
“The vision that people had five or 10 years ago when they were planning all of this may have stalled, but it will come to fruition,” says Mena.