With a capital gain of 9.23% for the last 12 months, Glenelg, 5045 has performed for property investments than its average annual 5.03% property growth over the last 5 years.
Advertised rents are around the $580 mark per week – giving a return of 3.29% based on the median price in Suburb
Glenelg has had a A very good year for property investment returns compared to the rest of SA, giving investors a capital gain of 16.67% to date .
Across a shorter period, Glenelg, 5045 has seen a median price increase of 5.04% over the last quarter.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.27% offered to property buyers. Sellers in Glenelg itself are offering an average vendor discount of -6.88% to real estate investors.
In the last year 130 properties changed hands in Glenelg, which puts it as the 3rd most active market in SA when comparing the number of sales per suburb.
Glenelg, 5045’s gross rental yield is 4.19%
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.