If you compare the increase in value of investment property in Port Adelaide, 5015 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this SA suburb was 24.66%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Port Adelaide has fallen somewhat when compared to the 5 year average annual rate.
Property investors looking for a bargain in Port Adelaide should be aiming for at least -4.24% off the asking price, which is the average vendor discount being achieved at the moment.
Property investors should expect to get $385 weekly from the median priced house in this suburb.
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 13.91% to date .
Taking the average capital gain, or increase in median house value, Port Adelaide,5015 has racked up an average of 13.91% over the period. This ranks it number 374th in the whole country for real estate investors looking at median house price increases.
Advertised rents are around the $325 mark per week – giving a return of 4.39% based on the median price in 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.