Property investors who have had real estate in Findon, 5023 should be relatively unhappy 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 1.66%
Comparing Findon,5023 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Findon is offering property investors an average of -6.17. This rate of discount on properties puts Suburb at number 40th in terms of most discounted suburbs in SA
At number 1944 in a list of fastest selling suburbs, Findon is just in the bottom half of suburbs in Australia with an average of days on market 78.22 for properties listed there.
Renters in Suburb are facing rents around $4380 per annum or $365 every week.
If you compare the increase in value of investment property in Findon, 5023 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this SA suburb was 24.24%.
Taking the average capital gain, or increase in median house value, Findon,5023 has racked up an average of 24.24% over the period. This ranks it number 508th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Findon are currently offering property investors an average price cut of -5.55% below the asking price at the moment.
Situated 6.50km from the CBD, Findon is one of Charles Sturt localities in the postcode 5023.
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.