Suburb Profile Report for Myrtle Bank SA (5064)

Myrtle Bank House: Median price $896,112, Annual capital growth 5.35%, Number of sales 50, Weekly median advertised rent $475

Myrtle Bank Unit: Median price $421,000, Annual capital growth 5.18%, Number of sales 17, Weekly median advertised rent $315

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

Source: CoreLogic

  • House Report
  • Unit Report

Myrtle Bank is in the TOP 30% in SA when comparing median price capital growth over the last year. Myrtle Bank gave property investors a good capital gain figure when compared to the rest of the state, with 8.36%.

While Myrtle Bank,5064 ranked number 63th in SA for increase in median house value (annualised) increase, it is ranked 94th over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that Myrtle Bank is offering property investors an average of -6.55. This rate of discount on properties puts Suburb at number 110th in terms of most discounted suburbs in SA

A $475 per week rent on the median house gives suburb investors a gross yield of circa 2.76%, without taking into account capital value appreciation, which has been averaging out at 5.35%.

Myrtle Bank is in the TOP 20% in SA when comparing median price capital growth over the last year. Myrtle Bank gave property investors a good capital gain figure when compared to the rest of the state, with 13.02%.

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.

Myrtle Bank5064 is located in SA which offers an average discount of -6.20% to property investors. Myrtle Bank itself is showing figures that indicate -5.22% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in Myrtle Bank the average time real estate has been on the market is 81.14 days.

Renters in Suburb are facing rents around $3780 per annum or $315 every week.

HOUSE UNIT
$896,112 $421,000
5.67% -1.29%
8.36% 13.02%
5.35% 5.18%
$475 $315
50 17
2.76% 3.89%
78.87 81.14

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (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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