Dover Gardens, 5048 ranked 163th in SA when comparing growth in median property values or capital gain over the last 12 months. Dover Gardens is one of 853 in our list for SA
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Dover Gardens has increased when compared to the 5 year average annual rate.
The most recent median price for Dover Gardens is $494500, with sellers offering an average of -3.74% off the asking price.
Giving property investors a an average capital gain of 4.10% for the last year, Dover Gardens, 5048 is the 863th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, Dover Gardens has given property investors a paper return of 0.82%. This puts Suburb as 81 on a list of fastest fasting appreciating suburbs in SA
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 Dover Gardens itself are offering an average vendor discount of -2.66% to real estate investors.
Dover Gardens, 5048’s gross rental yield is 4.54%
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