If you compare the increase in value of investment property in Unley, 5061 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this SA suburb was -7.45%.
Unley,5061 has offered an average of -7.45% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Unley should be aiming for at least -5.13% off the asking price, which is the average vendor discount being achieved at the moment.
At number 382 in a list of fastest selling suburbs, Unley is in the TOP 20% of suburbs in Australia with an average of days on market 43.83 for properties listed there.
The SA suburb of Unley, 5061 is in the Unley local government area.
Property value increases in Unley have tracked just lower than the SA average of 3.52% over the last 12 months.
The five-year average increase in median property values for Unley,5061 has given property investors a potential capital gain of 27.08% across each of those five years.
Property buyers and investors in Unley 5061 should be seeing an average reduction in asking price of around -2.59% . This means that Unley is holding prices well when compared to other suburbs in SA.
Often selling an investment property can take time, and in Unley the average time real estate has been on the market is 84.15 days.
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.