Giving property investors a a solid capital gain of 14.76% for the last year, Prospect, 5082 is the 630th highest performer in Australia in this respect.
Over the longer term, Prospect has seen property prices show investors a 20.03% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -4.09% to buyers in Prospect at the moment, which is less than average for the rest of SA.
On average over the past year, suburb has had 17.50 sales per month, which equates to 210 per year.
Renters in Suburb are facing rents around $4800 per annum or $400 every week.
Over the last year, property investments in Prospect, 5082 have given investors a capital gain of 24.96%. This compares very favourably with the 4.05% for SA as a whole.
Over the longer term, Prospect has seen property prices show investors a 20.66% return over the last 3 years. This is an improvement over the last 12 months
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.42% offered to property buyers. Sellers in Prospect itself are offering an average vendor discount of -4.65% to real estate investors.
With the median price for a house in Prospect being $386125 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 4.04%
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
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Located 5km north of Adelaide, Prospect has been quietly gaining ground, even outpacing Adelaide’s performance during the past two years.Close
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.