Suburb Profile Report for Myrtle Bank SA (5064)

Myrtle Bank House: Median price $931,000, Annual capital growth 6.76%, Number of sales 52, Weekly median advertised rent $580

Myrtle Bank Unit: Median price $395,000, Annual capital growth 5.65%, Number of sales 17, Weekly median advertised rent $325

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Myrtle Bank has had a A very good year for property investment returns compared to the rest of SA, giving investors a capital gain of 13.05% to date .

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Myrtle Bank has increased when compared to the 5 year average annual rate.

Vendor discounting in Myrtle Bank is giving property investors an average Vendor Discount of around -9.42%. This puts suburb at number 35th in SA when ranking the most discounted suburbs.

Myrtle Bank, 5064’s gross rental yield is 3.24%

Investment property in Myrtle Bank has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -10.63%

Myrtle Bank, 5064 is offering SA ‘s 139th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this SA.

With the median price for a house in Myrtle Bank being $395000 and the advertised rent reaching $325 the gross rental yield for property investors calculates out to be 4.28%

Metrics i HOUSE UNIT
$931,000 $395,000
3.89% N/A
13.05% -10.63%
6.76% 5.65%
$580 $325
52 17
3.24% 4.28%
82 75.85

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 2939
Median household income ($/weekly) 1379
Median age of persons 50
Median housing loan repayment ($/monthly) 2167
Average household size 2.3
  • Census Count Percent(%)
    35-44 years 317 10.8
    45-54 years 342 11.6
    55-64 years 350 11.9
    75-84 years 344 11.7
    85 years and over 412 14.0
    Others 1174 39.9
    Age Group
    Census Count Percent(%)
    Registered Married 1066 53.3
    Not Married 825 41.3
    Defacto Relationship 109 5.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 2132 77.1
    Croatia 33 1.2
    Indonesia 39 1.4
    United Kingdom 221 8.0
    Other 90 3.3
    Others 250 9.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 40 1.5
    Christianity 1814 68.9
    Hinduism 25 0.9
    Islam 23 0.9
    No Religion 706 26.8
    Others 26 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 106 10.9
    $600-$799 79 8.1
    $1,250-$1,499 88 9.1
    $1,500-$1,999 111 11.4
    $2,500-$2,999 108 11.1
    Others 479 49.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1202 49.7
    Employed, worked full-time 676 28.0
    Employed, worked part-time 432 17.9
    Employed, away from work 55 2.3
    Unemployed, looking for work 52 2.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 170 14.5
    Professionals 469 40.1
    Technicians & trades workers 96 8.2
    Clerical & administrative workers 145 12.4
    Sales 119 10.2
    Others 170 14.5
    Occupation
    Census Count Percent(%)
    Pre-school 30 4.6
    Infants/Primary 226 34.7
    Secondary 164 25.2
    Technical or Further Educational Institution 32 4.9
    University or other Tertiary Institutions 182 28.0
    Others 17 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1817 73.9
    Semi-detached, row or terrace house, townhouse 364 14.8
    Flat, unit or apartment 278 11.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 440 42.1
    Being purchased 277 26.5
    Rented 198 19.0
    Other tenure type 129 12.4
    Tenure Type
Census 2011, ABS
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