Investment property in Dover Gardens has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 11.99%
Dover Gardens,5048 was ranked 2052 in Australia by increase in median property value over the quarter.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.50% offered to property buyers. Sellers in Dover Gardens itself are offering an average vendor discount of -3.25% to real estate investors.
At number 729 in a list of fastest selling suburbs, Dover Gardens is in the TOP 20% of suburbs in Australia with an average of days on market 54.58 for properties listed there.
With the median price for a house in Dover Gardens being $495000 and the advertised rent reaching $395 the gross rental yield for property investors calculates out to be 4.15%
If you compare the increase in value of investment property in Dover Gardens, 5048 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this SA suburb was 4.38%.
Dover Gardens,5048 has offered an average of 4.38% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -1.38% to buyers in Dover Gardens at the moment, which is less than average for the rest of SA.
Residents and property investors in Dover Gardens have been waiting around 82.68 days to sell a property.
The SA suburb of Dover Gardens, 5048 is in the Marion local government area.
Dover Gardens is a stones throw from a popular Adelaide beach area – some 14 km from the CBD. Its transport infrastructure is as good, if not better, than many of its neighbours because it is home to one of Adelaide’s largest shopping centres.Full summary
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Dover Gardens is a stones throw from a popular Adelaide beach area – some 14 km from the CBD. Its transport infrastructure is as good, if not better, than many of its neighbours because it is home to one of Adelaide’s largest shopping centres.
John Druit of Century 21 Brighton says that most of the homes are built on big blocks and that the area is a mixture of the old and the new: many older style homes are being demolished in place of brand new, modern homes. “It’s an ideal place to buy if you don’t mind being slightly further away from the coast than your neighbours,” he says, adding that, even so, most houses in the suburb are within 500m of the beach.
Despite this, neighbours Brighton ($715,000), Hove ($600,000), Marino ($525,000) and Seacombe Heights ($427,000) are significantly more expensive. Even neighbour Oaklands Park, which is much further from the ocean, is marginally more expensive with median prices around $440,000.
It’s arguable what the reasons for the imbalances are – being slightly further from the beach may be a factor – but recent data suggests that this imbalance may not last for too much longer. Dover Gardens houses are becoming increasingly popular, requiring a mere 67 days on the market to sell, on average.
Sellers also have the upper hand in negotiating prices, with the average vendor discount just tipping -5%. Vacancies are at 0% and the ratio of properties within the suburb that are up for sale is a paltry 0.1%. It’s a supply and demand situation that looks tipped in the favour of capital growth.
Walking distance to the beach
Popular shopping area