If you compare the increase in value of investment property in Unley, 5061 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this SA suburb was -3.41%.
Comparing Unley,5061 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Unley is offering property investors an average of -6.54. This rate of discount on properties puts Suburb at number 176th in terms of most discounted suburbs in SA
Unley is 342th on a list of best yielding suburbs for rents in SA with a 3.30% return
Property investors who have had real estate in Unley, 5061 should be pleased with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 13.13%
Unley,5061 has offered an average of 13.13% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Unley is giving property investors an average Vendor Discount of around -3.38%. This puts suburb at number 148th in SA when ranking the most discounted suburbs.
Residents and property investors in Unley have been waiting around 96.27 days to sell a property.
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.