At number 1191th 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 12.56% 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 24.77% across each of those five years.
Prospect, 5082 is offering SA ‘s 312th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this SA.
With the median price for a house in Prospect being $681250 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 3.05%
At number 85th in the list of Australian suburbs ordered by increase in median house value over the last year, Prospect, 5082 is in the top 10% with a property value increase of 25.55% recorded in median house prices.
Over the longer term, Prospect has seen property prices show investors a 37.54% return over the last 3 years. This is worse than over the last 12 months
The most recent median price for Prospect is $425000, with sellers offering an average of -4.34% off the asking price.
Advertised rents are around the $320 mark per week – giving a return of 3.92% based on the median price in Suburb
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.