Property value increases in Pooraka have tracked close to the SA average of 3.56% over the last 12 months.
A 11.99% growth in median value for property investors in Pooraka,5095 puts this suburb at number 339th in terms of best performing suburbs in SA
Pooraka5095 is located in SA which offers an average discount of -6.34% to property investors. Pooraka itself is showing figures that indicate -5.88% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $335 and the average annual increase in value of a median property of 3.86%, investors should hope to achieve an overall return of 4.91%
At number 1572th in the list of Australian suburbs ordered by increase in median house value over the last year, Pooraka, 5095 is in the BOTTOM 10% with a property value increase of -10.32% 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 100th in SA.
The most recent median price for Pooraka is $265000, with sellers offering an average of -7.72% off the asking price.
The SA suburb of Pooraka, 5095 is in the Salisbury local government area.
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.