Property value increases in Port Adelaide have tracked higher than the SA average of 3.24% over the last 12 months.
The five-year average increase in median property values for Port Adelaide,5015 has given property investors a potential capital gain of -1.19% across each of those five years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Port Adelaide, 5015. Typically our figures indicate that -4.24% is being offered, which puts this SA suburb at 3047th most discounted overall in Australia.
Renters in Suburb are facing rents around $4500 per annum or $375 every week.
Port Adelaide has had a A very good year for property investment returns compared to the rest of SA, giving investors a capital gain of 16.15% to date .
Property investors should expect to get $320 weekly from the median priced house in this suburb.
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.