With a capital gain of 5.28% for the last 12 months, Pooraka, 5095 has performed for property investments than its average annual 4.36% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Pooraka has increased when compared to the 5 year average annual rate.
Property investors looking for a bargain in Pooraka should be aiming for at least -5.05% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 4.36%, investors should hope to achieve an overall return of 4.85%
Property investors who have had real estate in Pooraka, 5095 should be relatively unhappy with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -3.57%
Pooraka,5095 has offered an average of -3.57% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Pooraka should be aiming for at least -7.34% off the asking price, which is the average vendor discount being achieved at the moment.
A $290 per week rent on the median house gives suburb investors a gross yield of circa 5.59%, without taking into account capital value appreciation, which has been averaging out at 5.11%.
Located around 12km north of the Adelaide CBD, Pooraka has good access to the city via the Main North Road and is a couple of kilometres away from the nearest train station at Dry Creek.Full summary
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Located around 12km north of the Adelaide CBD, Pooraka has good access to the city via the Main North Road and is a couple of kilometres away from the nearest train station at Dry Creek.
It’s a suburb whose property market was a beneficiary of increased market confidence as 2011 progressed, says Raine & Horne Ingle Farm principal Wayne Masters.
“Australians still need and want to purchase homes,” he says. “We are seeing good levels of enquiry from local and interstate buyers, and we expect confidence to improve throughout the remainder of the year.”
And he believes that Pookara will continue to prove popular with both investors and owner-occupiers, thanks to the type of home that it has to offer.
“In Pooraka you can secure older-style three bedroom homes with large yards, which are ideal for families,” he says.
“These properties provide a point of difference to modern homes, which are typically on smaller blocks, and sell for between $290,000 and $350,000.”
He adds that many of these blocks can be developed, subject to council approval, which will be of particular interest to investors who are hoping to add value through development as the market recovers from its slow patch.