Property value increases in Pooraka have tracked close to the SA average of 2.82% over the last 12 months.
Across a shorter period, Pooraka, 5095 has seen a median price increase of 0.80% over the last quarter.
The most recent median price for Pooraka is $347750, with sellers offering an average of -5.09% off the asking price.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 4.33%, investors should hope to achieve an overall return of 4.93%
SA has seen average median house prices change by 3.03% which means that Pooraka, 5095 has done well for property investors by showing a capital gain of -2.59% 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.
Property buyers and investors in Pooraka 5095 should be seeing an average reduction in asking price of around -7.14% . This means that Pooraka is holding prices well when compared to other suburbs in SA.
Property investors should expect to get $290 weekly from the median priced house in this suburb.
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.