At number 2147th in the list of Australian suburbs ordered by increase in median house value over the last year, Pooraka, 5095 is in the BOTTOM 50% with a property value increase of 5.19% recorded in median house prices.
Comparing Pooraka,5095 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 257th of SA’s most discounted properties, Pooraka is in the TOP 40% of the state/territory when listing in order of most discounted to least.
At number 936 in a list of fastest selling suburbs, Pooraka is in the TOP 30% of suburbs in Australia with an average of days on market 58.41 for properties listed there.
Property investors should expect to get $330 weekly from the median priced house in this suburb.
SA has seen average median house prices change by 3.52% which means that Pooraka, 5095 has done well for property investors by showing a capital gain of -5.36% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Pooraka has fallen somewhat when compared to the 5 year average annual rate.
Vendor discounting in Pooraka is giving property investors an average Vendor Discount of around -7.16%. This puts suburb at number 41th in SA when ranking the most discounted suburbs.
Residents and property investors in Pooraka have been waiting around 75.4 days to sell a property.
Using the current median advertised rental of $287.5 and the average annual increase in value of a median property of 4.08%, investors should hope to achieve an overall return of 5.64%
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
Information supplied by:
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.