Suburb Profile Report for Prospect SA (5082)

Prospect House: Median price $645,000, Annual capital growth 5.67%, Number of sales 203, Weekly median advertised rent $395

Prospect Unit: Median price $370,000, Annual capital growth 6.74%, Number of sales 116, 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 13.56%. This compares very favourably with the 2.92% for SA as a whole.

When looking at the potential capital gains offered to property investors over the last 3 years, Prospect comes in at number 65th in SA.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Prospect, 5082. Typically our figures indicate that -3.89% is being offered, which puts this SA suburb at 3277th most discounted overall in Australia.

Prospect is 343th on a list of best yielding suburbs for rents in SA with a 3.18% return

Prospect has had a A very good year for property investment returns compared to the rest of SA, giving investors a capital gain of 19.74% to date .

While Prospect,5082 ranked number 22th in SA for increase in median house value (annualised) increase, it is ranked 90th over the last 5 years.

Property buyers and investors in Prospect 5082 should be seeing an average reduction in asking price of around -5.01% . This means that Prospect is holding prices well when compared to other suburbs in SA.

Using the current median advertised rental of $295 and the average annual increase in value of a median property of 6.74%, investors should hope to achieve an overall return of 4.15%

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
$645,000 $370,000
5.09% 7.56%
13.56% 19.74%
5.67% 6.74%
$395 $295
203 116
3.18% 4.15%
60.08 98.92

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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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