Suburb Profile Report for Prospect SA (5082)

Prospect House: Median price $605,250, Annual capital growth 5.75%, Number of sales 195, Weekly median advertised rent $390

Prospect Unit: Median price $340,000, Annual capital growth 4.11%, Number of sales 74, Weekly median advertised rent $295

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Prospect, 5082 have given investors a capital gain of 7.12%. This compares favourably with the 3.04% for SA as a whole.

The five-year average increase in median property values for Prospect,5082 has given property investors a potential capital gain of 6.07% across each of those five years.

The most recent median price for Prospect is $605250, with sellers offering an average of -3.75% off the asking price.

In the last year 195 properties changed hands in Prospect, which puts it as the 14th most active market in SA when comparing the number of sales per suburb.

Prospect, 5082’s gross rental yield is 3.35%

At number 394th in the list of Australian suburbs ordered by increase in median house value over the last year, Prospect, 5082 is in the top 30% with a property value increase of 10.03% recorded in median house prices.

Comparing Prospect,5082 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period

Vendor discounting in Prospect is giving property investors an average Vendor Discount of around -5.75%. This puts suburb at number 89th in SA when ranking the most discounted suburbs.

Property investors should expect to get $295 weekly from the median priced house in this suburb.

YIP MAG Information supplied by:

YIP MAG
July 2015

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The suburb’s tree-lined streets and well-maintained footpaths are also attracting families into the area. Barker Road hosts some of the most expensive properties in the area, while Old Street offers the cheapest homes.Full summary
Located 5km north of Adelaide, Prospect has been quietly gaining ground, even outpacing Adelaide’s performance during the past two years.
 
According to the stats from onthehouse.com.au, median house values in Prospect climbed by a total of 9.7% since 2013, compared to Adelaide metro’s 7% growth.
 
The suburb has been attracting a growing number of investors who are looking to redevelop or renovate, thanks to its abundant offering of character homes on large blocks of land.
 
This has resulted in gentrification that’s turning the suburb into a hip and desirable place for both homebuyers and renters.
 
The suburb’s tree-lined streets and well-maintained footpaths are also attracting families into the area. Barker Road hosts some of the most expensive properties in the area, while Old Street offers the cheapest homes.
 
Stay as far away as you can from Churchill Road and Regency Road as these are busy areas. Also, avoid the north side of Prospect Road if possible due to the developments in Churchill Road.
Close
HOUSE UNIT
$605,250 $340,000
2.15% 2.56%
7.12% 10.03%
5.75% 4.11%
$390 $295
195 74
3.35% 4.51%
55.52 116.82

Source: CoreLogic

DSR Score for property investment : Balanced (U), Above average (H)
Find a mortgage broker in Prospect SA
Demographics
Total population 13008
Median household income ($/weekly) 1349
Median age of persons 36
Median housing loan repayment ($/monthly) 1755
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1372 10.5
    25-34 years 2086 16.0
    35-44 years 1915 14.7
    45-54 years 1884 14.5
    55-64 years 1373 10.6
    Others 4378 33.7
    Age Group
    Census Count Percent(%)
    Registered Married 4559 46.1
    Not Married 4454 45.1
    Defacto Relationship 867 8.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 8859 71.1
    Indonesia 635 5.1
    Japan 341 2.7
    United Kingdom 568 4.6
    Other 552 4.4
    Others 1505 12.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 285 2.4
    Christianity 7501 62.9
    Hinduism 511 4.3
    Islam 279 2.3
    No Religion 3141 26.3
    Others 216 1.8
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 408 9.0
    $1,000-$1,249 379 8.4
    $1,500-$1,999 546 12.1
    $2,000-$2,499 448 9.9
    $2,500-$2,999 397 8.8
    Others 2347 51.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4141 40.0
    Not in the labour force 3211 31.0
    Employed, worked part-time 2235 21.6
    Employed, away from work 402 3.9
    Unemployed, looking for work 354 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 850 12.5
    Professionals 2055 30.3
    Technicians & trades workers 719 10.6
    Clerical & administrative workers 977 14.4
    Sales 658 9.7
    Others 1518 22.4
    Occupation
    Census Count Percent(%)
    Pre-school 169 5.1
    Infants/Primary 1030 31.0
    Secondary 649 19.5
    Technical or Further Educational Institution 298 9.0
    University or other Tertiary Institutions 1043 31.4
    Others 135 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 9999 82.0
    Semi-detached, row or terrace house, townhouse 1362 11.2
    Flat, unit or apartment 819 6.7
    House or flat attached to a shop, office 17 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1697 35.0
    Fully owned 1560 32.2
    Rented 1546 31.9
    Other tenure type 42 0.9
    Tenure Type
Census 2011, ABS
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Recent sales & rentals