Port Adelaide is in the bottom 10% in SA when comparing median price capital growth over the last year. Port Adelaide gave property investors a dismal capital gain figure when compared to the rest of the state, with -17.68%.
Sellers are offering property buyers an average discount of -4.12% to buyers in Port Adelaide at the moment, which is less than average for the rest of SA.
Port Adelaide, 5015’s gross rental yield is 5.70%
If you compare the increase in value of investment property in Port Adelaide, 5015 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this SA suburb was -17.13%.
Over the longer term, Port Adelaide has seen property prices show investors a 10.50% return over the last 3 years. This is worse than over the last 12 months
At number 49th of SA’s most discounted properties, Port Adelaide is in the bottom 40% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Port Adelaide the average time real estate has been on the market is 36.9 days.
With the median price for a house in Port Adelaide being $331500 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 5.02%
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.