Unley has had a quite poor year for property investment returns compared to the rest of SA, giving investors a capital gain of -1.66% to date .
If we look at median property appreciation over just the last three months, Unley has given property investors a paper return of -1.18%. This puts Suburb as 334 on a list of fastest fasting appreciating suburbs in SA
The most recent median price for Unley is $920000, with sellers offering an average of -5.13% off the asking price.
In the last year 49 properties changed hands in Unley, which puts it as the 197th most active market in SA when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $6360 per annum or $530 every week.
Property investors who have had real estate in Unley, 5061 should be relatively unhappy with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.39%
Unley,5061 has offered an average of -4.39% return per annum in house price rises to property investors over the last three years.
Unley, 5061 is offering SA ‘s 157th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this SA.
On average over the past year, suburb has had 3.17 sales per month, which equates to 38 per year.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 4.80%, investors should hope to achieve an overall return of 3.63%
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.