Suburb Profile Report for West Lakes SA (5021)

West Lakes House: Median price $730,000, Annual capital growth 3.21%, Number of sales 75, Weekly median advertised rent $565

West Lakes Unit: Median price $405,000, Annual capital growth 5.04%, Number of sales 51, Weekly median advertised rent $350

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in West Lakes, 5021 should be ok with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 3.33%

Over the longer term, West Lakes has seen property prices show investors a 20.16% return over the last 3 years. This is worse than over the last 12 months

Our latest figures would indicate that property sellers in West Lakes are currently offering property investors an average price cut of -6.04% below the asking price at the moment.

West Lakes, 5021 ranked 145th in SA when comparing growth in median property values or capital gain over the last 12 months. West Lakes is one of 853 in our list for SA

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Lakes has fallen somewhat when compared to the 5 year average annual rate.

The most recent median price for West Lakes is $405000, with sellers offering an average of -6.49% off the asking price.

In the last year 51 properties changed hands in West Lakes, which puts it as the 32th most active market in SA when comparing the number of sales per suburb.

Using the current median advertised rental of $350 and the average annual increase in value of a median property of 5.04%, investors should hope to achieve an overall return of 4.49%

HOUSE UNIT
$730,000 $405,000
1.96% -0.86%
3.33% -4.99%
3.21% 5.04%
$565 $350
75 51
4.02% 4.49%
95.84 92.41

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 5728
Median household income ($/weekly) 1164
Median age of persons 52
Median housing loan repayment ($/monthly) 1733
Average household size 2.3
  • Census Count Percent(%)
    35-44 years 552 9.6
    45-54 years 759 13.2
    55-64 years 1071 18.7
    65-74 years 805 14.1
    75-84 years 587 10.2
    Others 1955 34.1
    Age Group
    Census Count Percent(%)
    Registered Married 2797 59.1
    Not Married 1661 35.1
    Defacto Relationship 277 5.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 4187 76.4
    Hong Kong 74 1.3
    Japan 138 2.5
    United Kingdom 378 6.9
    Other 180 3.3
    Others 526 9.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 50 0.9
    Christianity 4197 78.4
    Islam 34 0.6
    Other Religious Groups 29 0.5
    No Religion 1028 19.2
    Others 18 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 270 12.4
    $600-$799 244 11.2
    $800-$999 224 10.3
    $1,000-$1,249 181 8.3
    $1,500-$1,999 265 12.2
    Others 987 45.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2105 42.8
    Employed, worked full-time 1585 32.2
    Employed, worked part-time 933 19.0
    Employed, away from work 183 3.7
    Unemployed, looking for work 117 2.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 468 17.3
    Professionals 518 19.2
    Technicians & trades workers 313 11.6
    Clerical & administrative workers 510 18.9
    Sales 309 11.4
    Others 583 21.6
    Occupation
    Census Count Percent(%)
    Pre-school 42 4.4
    Infants/Primary 323 34.1
    Secondary 243 25.7
    Technical or Further Educational Institution 89 9.4
    University or other Tertiary Institutions 216 22.8
    Others 34 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4079 75.3
    Semi-detached, row or terrace house, townhouse 923 17.0
    Flat, unit or apartment 412 7.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1262 54.5
    Being purchased 541 23.4
    Rented 420 18.2
    Other tenure type 91 3.9
    Tenure Type
Census 2011, ABS
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