Giving property investors a a poor capital gain of -9.50% for the last year, Unley, 5061 is the 3833th highest performer in Australia in this respect.
Over the longer term, Unley has seen property prices show investors a -9.05% return over the last 3 years. This is worse than over the last 12 months
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.57% offered to property buyers. Sellers in Unley itself are offering an average vendor discount of -6.88% to real estate investors.
Unley has had a pretty good year for property investment returns compared to the rest of SA, giving investors a capital gain of 6.01% to date .
While Unley,5061 ranked number 88th in SA for increase in median house value (annualised) increase, it is ranked 23th over the last 5 years.
Vendor discounting in Unley is giving property investors an average Vendor Discount of around -2.88%. This puts suburb at number 155th in SA when ranking the most discounted suburbs.
Advertised rents are around the $330 mark per week – giving a return of 3.24% based on the median price in Suburb
Located just 3 km from Adelaide CBD, Unley also offers good renovation opportunities, says property academic Peter Koulizos.Full summary
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Located just 3 km from Adelaide CBD, Unley also offers good renovation opportunities, says property academic Peter Koulizos.
“There are a lot of character homes that you can transform to get a tidy profit,” he says.
For maximum profit, Koulizos says small to medium sized homes are the best due to the suburb’s high median.
“If you buy a larger home in Unley, it’s going to cost you a million dollars. The sort of renovations you want to do to a million dollar home have to be substantial, and the people who want to do that want to do it to their own taste. So you want to stick with smaller homes around the $400-500,000 mark," says Koulizos.
He suggests that the most profitable renovations in Unley are to modernise the kitchen and bathroom, and upgrade the flooring.
“People like older homes but modern day conveniences. They like modern kitchens and bathrooms so it’s ok to have modern décor inside and the period style décor style outside,” he says.