Property investors who have had real estate in Glenelg, 5045 should be 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 12.35%
A $495 per week rent on the median house gives suburb investors a gross yield of circa 2.83%, without taking into account capital value appreciation, which has been averaging out at 10.87%.
Giving property investors a a poor capital gain of -11.93% for the last year, Glenelg, 5045 is the 1599th highest performer in Australia in this respect.
Glenelg,5045 was ranked 535 in Australia by increase in median property value over the quarter.
Property buyers and investors in Glenelg 5045 should be seeing an average reduction in asking price of around -6.08% . This means that Glenelg is holding prices well when compared to other suburbs in SA.
At number 1206 in a list of fastest selling suburbs, Glenelg is in the bottom 20% of suburbs in Australia with an average of days on market 107.2 for properties listed there.
Using the current median advertised rental of $395 and the average annual increase in value of a median property of -1.64%, investors should hope to achieve an overall return of 4.80%
By the sea in Adelaide’s south-west, the suburb of Glenelg seems to have hit somewhat of a rough patch in recent times.Full summary
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By the sea in Adelaide’s south-west, the suburb of Glenelg seems to have hit somewhat of a rough patch in recent times.Close
Currently, the median house price sits $865,000, though there are indicators that it could soon become more affordable.
The latest data from CoreLogic RP Data has revealed a 12% drop in house values over the past year, while over the past five years values have fallen 9%.
Investors aren’t seeing any real cash flow that would ease that pain either, with Glenelg’s rental yield currently sitting at just 3%.
Glenelg is around a 20-minute drive to Adelaide CBD, while the tram line that runs through the suburb can have commuters in the city centre in just over half an hour.
Adelaide Airport is just to the north of Glenelg, while there are a number of shopping centres within the suburb.