Unley, 5061 ranked 84th 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
Across a shorter period, Unley, 5061 has seen a median price increase of 11.83% over the last quarter.
Our latest figures would indicate that property sellers in Unley are currently offering property investors an average price cut of -4.36% below the asking price at the moment.
Often selling an investment property can take time, and in Unley the average time real estate has been on the market is 32.61 days.
Situated 2.57km from the CBD, Unley is one of Unley localities in the postcode 5061.
Over the last year, property investments in Unley, 5061 have given investors a capital gain of -3.81%. This compares badly with the 3.61% for SA as a whole.
Across a shorter period, Unley, 5061 has seen a median price increase of 0.40% over the last quarter.
Property buyers and investors in Unley 5061 should be seeing an average reduction in asking price of around -5.18% . This means that Unley is holding prices well when compared to other suburbs in SA.
At number 925 in a list of fastest selling suburbs, Unley is in the bottom 40% of suburbs in Australia with an average of days on market 83.61 for properties listed there.
Renters in Suburb are facing rents around $4200 per annum or $350 every week.
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.