Property investors who have had real estate in Glenelg, 5045 should be relatively pleased with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 10.07%
Across a shorter period, Glenelg, 5045 has seen a median price increase of 2.73% over the last quarter.
Our latest figures would indicate that property sellers in Glenelg are currently offering property investors an average price cut of -6.47% below the asking price at the moment.
Residents and property investors in Glenelg have been waiting around 99.67 days to sell a property.
Glenelg, 5045’s gross rental yield is 4.43%
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.