Investment property in Pooraka has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 4.72%
Taking the average capital gain, or increase in median house value, Pooraka,5095 has racked up an average of 4.72% over the period. This ranks it number 2559th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -4.28% to buyers in Pooraka at the moment, which is less than average for the rest of SA.
With the median price for a house in Pooraka being $344000 and the advertised rent reaching $330 the gross rental yield for property investors calculates out to be 4.99%
SA has seen average median house prices change by 4.28% which means that Pooraka, 5095 has done well for property investors by showing a capital gain of 14.66% over the last year
While Pooraka,5095 ranked number 47th in SA for increase in median house value (annualised) increase, it is ranked 30th over the last 5 years.
Property buyers and investors in Pooraka 5095 should be seeing an average reduction in asking price of around -5.40% . This means that Pooraka is holding prices well when compared to other suburbs in SA.
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.