At number 2009th in the list of Australian suburbs ordered by increase in median house value over the last year, Pooraka, 5095 is in the top half with a property value increase of 5.02% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Pooraka comes in at number 267th in SA.
Our latest figures would indicate that property sellers in Pooraka are currently offering property investors an average price cut of -4.39% below the asking price at the moment.
Often selling an investment property can take time, and in Pooraka the average time real estate has been on the market is 56.04 days.
Pooraka, 5095’s gross rental yield is 4.97%
Property investors who have had real estate in Pooraka, 5095 should be pleased with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 16.50%
Over the longer term, Pooraka has seen property prices show investors a 16.50% return over the last 3 years. This is the same as over the last 12 months
The most recent median price for Pooraka is $300000, with sellers offering an average of -5.79% off the asking price.
At number 935 in a list of fastest selling suburbs, Pooraka is in the bottom 40% of suburbs in Australia with an average of days on market 86.78 for properties listed there.
Pooraka is 72th on a list of best yielding suburbs for rents in SA with a 4.94% return
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.