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.
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.