With a capital gain of -18.79% for the last 12 months, Port Adelaide, 5015 has performed for property investments than its average annual 5.15% property growth over the last 5 years.
The five-year average increase in median property values for Port Adelaide,5015 has given property investors a potential capital gain of -21.94% across each of those five years.
The most recent median price for Port Adelaide is $351250, with sellers offering an average of -1.79% off the asking price.
With the median price for a house in Port Adelaide being $351250 and the advertised rent reaching $385 the gross rental yield for property investors calculates out to be 5.70%
Property investors who have had real estate in Port Adelaide, 5015 should be unhappy with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -18.75%
Port Adelaide, 5015’s gross rental yield is 5.28%
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
Information supplied by:
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.