Property value increases in Unley have tracked lower than the SA average of 2.92% over the last 12 months.
Across a shorter period, Unley, 5061 has seen a median price increase of 2.90% over the last quarter.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.56% offered to property buyers. Sellers in Unley itself are offering an average vendor discount of -6.78% to real estate investors.
The SA suburb of Unley, 5061 is in the Unley local government area.
Unley, 5061 ranked 66th in SA when comparing growth in median property values or capital gain over the last 12 months. Unley is one of 853 in our list for SA
The five-year average increase in median property values for Unley,5061 has given property investors a potential capital gain of 25.58% across each of those five years.
Unley5061 is located in SA which offers an average discount of -6.26% to property investors. Unley itself is showing figures that indicate -3.40% is the average achievable by property buyers investing in the suburb.
Situated 1.97km from the CBD, Unley is one of Unley localities in the postcode 5061.
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.