Glenelg is in the TOP 20% in SA when comparing median price capital growth over the last year. Glenelg gave property investors a very good capital gain figure when compared to the rest of the state, with 13.73%.
In the last year 15 properties changed hands in Glenelg, which puts it as the 422th most active market in SA when comparing the number of sales per suburb.
Using the current median advertised rental of $475 and the average annual increase in value of a median property of 9.51%, investors should hope to achieve an overall return of 2.81%
With a capital gain of -7.39% for the last 12 months, Glenelg, 5045 has performed for property investments than its average annual 0.75% property growth over the last 5 years.
Comparing Glenelg,5045 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Our latest figures would indicate that property sellers in Glenelg are currently offering property investors an average price cut of -5.66% below the asking price at the moment.
Using the current median advertised rental of $387.5 and the average annual increase in value of a median property of 0.75%, investors should hope to achieve an overall return of 4.80%
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.