If you compare the increase in value of investment property in St Marys, 5042 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 20.00%.
Across a shorter period, St Marys, 5042 has seen a median price increase of 3.92% over the last quarter.
Our latest figures would indicate that property sellers in St Marys are currently offering property investors an average price cut of -5.27% below the asking price at the moment.
Over the last year, property investments in St Marys, 5042 have given investors a capital gain of 13.19%. This compares favourably with the 6.74% for SA as a whole.
Over the longer term, St Marys has seen property prices show investors a 3.50% return over the last 3 years. This is an improvement over the last 12 months
The SA suburb of St Marys, 5042 is in the Mitcham (C) local government area.
Less than five minutes’ drive to Flinders University and Flinders Medical Centre, St Marys is the next big growth suburb in Adelaide’s southern corridor. Part of the attraction of this suburb is the relatively liberal council subdivision rules.
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Less than five minutes’ drive to Flinders University and Flinders Medical Centre, St Marys is the next big growth suburb in Adelaide’s southern corridor.
“There’s a lot of areas through here that tend to be well-kept secrets,” says Greg Swift, sales consultant at Ray White Marion. “Then all of a sudden they pop up into everybody’s view and they take off from there. Seacombe Gardens/Dover Gardens [5km down the road towards Brighton] went through all of that many years ago; it just went wild with investors. That’s now moving to Clovelly Park and St Marys.”
Part of the attraction of this suburb is the relatively liberal council subdivision rules. “You can subdivide quite tightly in St Marys,” says Swift. “There’s a number of units scattered through there. Mainly, however, they’re the older homes – the bigger block. There hasn’t been a lot of sub-development, but it’s starting now.” The potential here is enormous.
Be careful which end of St Marys you look at, though, as the western side is quite industrial. “All of Pinn Street and Ragless – that’s industrial through there, all commercial. Stay away from that,” Swift advises. “You’d move more towards the Pasadena side. Cashell Street is a very nice, tree-lined street. A lot of older homes there on big blocks, so developers are keen to look at those properties.”
Other popular streets include St Marys Street and Donald Street at the northern end. “That’s a very lovely little pocket,” says Swift. “It’s quiet, it’s close to Daws Road and you’ve got the Repat [General Hospital], which isn’t far away. It’s very tightly held.”