Suburb Profile Report for West Lakes SA (5021)

West Lakes House: Median price $729,250, Annual capital growth 3.14%, Number of sales 72, Weekly median advertised rent $550

West Lakes Unit: Median price $405,000, Annual capital growth 5.74%, Number of sales 54, Weekly median advertised rent $350

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in West Lakes, 5021 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this SA suburb was 3.00%.

The five-year average increase in median property values for West Lakes,5021 has given property investors a potential capital gain of 12.89% across each of those five years.

Sellers are offering property buyers an average discount of -5.62% to buyers in West Lakes at the moment, which is less than average for the rest of SA.

At number 2343 in a list of fastest selling suburbs, West Lakes is in the bottom 40% of suburbs in Australia with an average of days on market 91.87 for properties listed there.

Property investors should expect to get $550 weekly from the median priced house in this suburb.

With a capital gain of -2.41% for the last 12 months, West Lakes, 5021 has performed for property investments than its average annual 5.74% property growth over the last 5 years.

Over the longer term, West Lakes has seen property prices show investors a -0.74% return over the last 3 years. This is worse than over the last 12 months

LACK OF BUYER INTEREST may well be the reason that West Lakes is offering property investors an average of -6.11. This rate of discount on properties puts Suburb at number 29th in terms of most discounted suburbs in SA

At number 1192 in a list of fastest selling suburbs, West Lakes is in the bottom 20% of suburbs in Australia with an average of days on market 104.6 for properties listed there.

HOUSE UNIT
$729,250 $405,000
2.42% -0.86%
3.00% -2.41%
3.14% 5.74%
$550 $350
72 54
3.92% 4.49%
91.87 104.6

Source: CoreLogic

DSR Score for property investment : Above average (H), Balanced (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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