Property investors who have had real estate in Glenelg, 5045 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 decrease in value by -1.54%
If we look at median property appreciation over just the last three months, Glenelg has given property investors a paper return of -9.38%. This puts Suburb as 410 on a list of fastest fasting appreciating suburbs in SA
With the median price for a house in Glenelg being $797500 and the advertised rent reaching $495 the gross rental yield for property investors calculates out to be 3.23%
With a capital gain of -6.12% for the last 12 months, Glenelg, 5045 has performed for property investments than its average annual -1.10% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Glenelg comes in at number 140th in SA.
Glenelg, 5045 is offering SA ‘s 102th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this SA.
Often selling an investment property can take time, and in Glenelg the average time real estate has been on the market is 100.1 days.
Property investors should expect to get $385 weekly from the median priced house in this 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.