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%