SA has seen average median house prices change by 3.22% which means that Glenelg, 5045 has done well for property investors by showing a capital gain of -2.89% over the last year
Glenelg,5045 was ranked 633 in Australia by increase in median property value over the quarter.
In the last year 19 properties changed hands in Glenelg, which puts it as the 385th most active market in SA when comparing the number of sales per suburb.
Property investors should expect to get $495 weekly from the median priced house in this suburb.
With a capital gain of -5.75% for the last 12 months, Glenelg, 5045 has performed for property investments than its average annual -1.06% property growth over the last 5 years.
Across a shorter period, Glenelg, 5045 has seen a median price increase of 1.43% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Glenelg is offering property investors an average of -6.20. This rate of discount on properties puts Suburb at number 75th in terms of most discounted suburbs in SA
Situated 5.09km from the CBD, Glenelg is one of Holdfast Bay localities in the postcode 5045.
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.