If you compare the increase in value of investment property in West Lakes, 5021 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this SA suburb was 0.21%.
West Lakes,5021 was ranked 3166 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that West Lakes is offering property investors an average of -6.14. This rate of discount on properties puts Suburb at number 160th in terms of most discounted suburbs in SA
West Lakes is 209th on a list of best yielding suburbs for rents in SA with a 4.20% return
SA has seen average median house prices change by 3.61% which means that West Lakes, 5021 has done well for property investors by showing a capital gain of 3.30% over the last year
While West Lakes,5021 ranked number 90th in SA for increase in median house value (annualised) increase, it is ranked 80th over the last 5 years.
The most recent median price for West Lakes is $422000, with sellers offering an average of -4.65% off the asking price.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 5.81%, investors should hope to achieve an overall return of 4.31%