Unley has had a quite poor year for property investment returns compared to the rest of SA, giving investors a capital gain of -0.53% to date .
Across a shorter period, Unley, 5061 has seen a median price increase of 2.87% over the last quarter.
Unley, 5061 is offering SA ‘s 169th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this SA.
On average over the past year, suburb has had 4.00 sales per month, which equates to 48 per year.
Property investors should expect to get $562.5 weekly from the median priced house in this suburb.
If you compare the increase in value of investment property in Unley, 5061 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 0.70%.
Taking the average capital gain, or increase in median house value, Unley,5061 has racked up an average of 0.70% over the period. This ranks it number 818th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Unley are currently offering property investors an average price cut of -3.05% below the asking price at the moment.
Unley, 5061’s gross rental yield is 3.51%
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.