Property investors who have had real estate in Findon, 5023 should be relatively pleased 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 8.64%
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.
Property investors looking for a bargain in Findon should be aiming for at least -4.76% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Findon the average time real estate has been on the market is 61.55 days.
A $362.5 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 5.11%.
Findon is in the bottom 40% in SA when comparing median price capital growth over the last year. Findon gave property investors a disappointing capital gain figure when compared to the rest of the state, with -2.94%.
Findon,5023 was ranked 1082 in Australia by increase in median property value over the quarter.
Findon5023 is located in SA which offers an average discount of -6.11% to property investors. Findon itself is showing figures that indicate -3.39% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $280 and the average annual increase in value of a median property of 4.20%, investors should hope to achieve an overall return of 4.41%
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
Information supplied by:
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.