With a capital gain of 9.32% for the last 12 months, Glenelg, 5045 has performed for property investments than its average annual 8.53% property growth over the last 5 years.
Glenelg,5045 has offered an average of 9.32% return per annum in house price rises to property investors over the last three years.
Using the current median advertised rental of $495 and the average annual increase in value of a median property of 8.53%, investors should hope to achieve an overall return of 2.92%
If you compare the increase in value of investment property in Glenelg, 5045 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this SA suburb was 5.84%.
Glenelg,5045 was ranked 120 in Australia by increase in median property value over the quarter.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.26% offered to property buyers. Sellers in Glenelg itself are offering an average vendor discount of -6.08% to real estate investors.
Using the current median advertised rental of $395 and the average annual increase in value of a median property of -0.98%, investors should hope to achieve an overall return of 4.49%
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.