At number 926th 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 13.29% recorded in median house prices.
The five-year average increase in median property values for Prospect,5082 has given property investors a potential capital gain of 22.69% across each of those five years.
Property investors looking for a bargain in Prospect should be aiming for at least -3.87% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 213 properties changed hands in Prospect, which puts it as the 10th most active market in SA when comparing the number of sales per suburb.
Situated 4.72km from the CBD, Prospect is one of Prospect localities in the postcode 5082.
With a capital gain of 27.13% for the last 12 months, Prospect, 5082 has performed for property investments than its average annual 8.18% property growth over the last 5 years.
A 23.16% growth in median value for property investors in Prospect,5082 puts this suburb at number 15th in terms of best performing suburbs in SA
Vendor discounting in Prospect is giving property investors an average Vendor Discount of around -4.41%. This puts suburb at number 134th in SA when ranking the most discounted suburbs.
Prospect is 166th on a list of best yielding suburbs for rents in SA with a 3.80% return
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.