Glenelg is an average performer in SA when comparing median price capital growth over the last year. Glenelg gave property investors a average capital gain figure when compared to the rest of the state, with 2.78%.
Glenelg,5045 was ranked 3806 in Australia by increase in median property value over the quarter.
A $495 per week rent on the median house gives suburb investors a gross yield of circa 3.09%, without taking into account capital value appreciation, which has been averaging out at 6.50%.
Glenelg, 5045 ranked 70th in SA when comparing growth in median property values or capital gain over the last 12 months. Glenelg is one of 853 in our list for SA
A 1.98% growth in median value for property investors in Glenelg,5045 puts this suburb at number 23th in terms of best performing suburbs in SA
Our latest figures would indicate that property sellers in Glenelg are currently offering property investors an average price cut of -6.53% below the asking price at the moment.
Advertised rents are around the $400 mark per week – giving a return of 4.48% based on the median price in Suburb
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.