Giving property investors a an average capital gain of 8.07% for the last year, Findon, 5023 is the 1726th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Findon has increased when compared to the 5 year average annual rate.
The most recent median price for Findon is $475500, with sellers offering an average of -6.35% off the asking price.
A $360 per week rent on the median house gives suburb investors a gross yield of circa 3.94%, without taking into account capital value appreciation, which has been averaging out at 5.61%.
Property investors who have had real estate in Findon, 5023 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 3.08%
Findon,5023 was ranked 436 in Australia by increase in median property value over the quarter.
Vendor discounting in Findon is giving property investors an average Vendor Discount of around -4.89%. This puts suburb at number 116th in SA when ranking the most discounted suburbs.
Residents and property investors in Findon have been waiting around 92.85 days to sell a property.
Findon is a suburb in the west of Adelaide, around 8km from the CBD and 4km from the coast. Like many suburbs sandwiched between the beach and the city, it combines the best of both worlds by providing easy access to workplace and leisure.Full summary
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Findon is a suburb in the west of Adelaide, around 8km from the CBD and 4km from the coast. Like many suburbs sandwiched between the beach and the city, it combines the best of both worlds by providing easy access to workplace and leisure.
In terms of affordability, it compares very well with its neighbouring suburbs. Unit prices fall well below that of beachside suburbs Grange and Henley Park to the west, while rents are comparable.
That’s not to say it’s just a bridging suburb: Findon has a shopping centre with over 30 shops including two supermarkets, and a range of cafes and restaurants along the length of Grange Road. The City of Charles Sturt has also undertaken a number of civic improvement programmes over the last couple of years, including road improvements, a $500,000 library upgrade, and the ‘Pooch Park’ dog playground on the River Torrens – a popular location for dog owners
While there is no rail link to the city, Findon is well served by buses, and there is a community campaign to restore trams to the area. It’s also within easy reach of Adelaide airport.
The rental market is significant, with SQM Research estimating that 42% of residents rent. Vacancy rates are tight, too, at just 0.5%. However, it’s capital growth that will be of most interest to investors, with the area showing relatively robust growth of 3.56% throughout the 2010 winter slump.