If you compare the increase in value of investment property in Pooraka, 5095 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this SA suburb was 3.45%.
Pooraka,5095 was ranked 2416 in Australia by increase in median property value over the quarter.
Property buyers and investors in Pooraka 5095 should be seeing an average reduction in asking price of around -4.48% . This means that Pooraka is holding prices well when compared to other suburbs in SA.
With the median price for a house in Pooraka being $345000 and the advertised rent reaching $337.5 the gross rental yield for property investors calculates out to be 5.09%
If you compare the increase in value of investment property in Pooraka, 5095 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this SA suburb was 6.73%.
While Pooraka,5095 ranked number 164th in SA for increase in median house value (annualised) increase, it is ranked 111th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Pooraka is offering property investors an average of -6.20. This rate of discount on properties puts Suburb at number 70th in terms of most discounted suburbs in SA
Residents and property investors in Pooraka have been waiting around 84.42 days to sell a property.
Pooraka, 5095’s gross rental yield is 5.43%
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.