At number 980th in the list of Australian suburbs ordered by increase in median house value over the last year, Dover Gardens, 5048 is in the top 30% with a property value increase of 10.54% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Dover Gardens comes in at number 112th in SA.
The most recent median price for Dover Gardens is $493000, with sellers offering an average of -3.48% off the asking price.
Using the current median advertised rental of $395 and the average annual increase in value of a median property of 5.81%, investors should hope to achieve an overall return of 4.17%
Over the last year, property investments in Dover Gardens, 5048 have given investors a capital gain of 6.16%. This compares favourably with the 3.03% for SA as a whole.
Dover Gardens,5048 has offered an average of 6.16% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Dover Gardens 5048 should be seeing an average reduction in asking price of around -2.06% . This means that Dover Gardens is holding prices well when compared to other suburbs in SA.
Situated 7.01km from the CBD, Dover Gardens is one of Marion localities in the postcode 5048.
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