Property investors who have had real estate in Pooraka, 5095 should be ok with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 3.45%
A 9.52% growth in median value for property investors in Pooraka,5095 puts this suburb at number 178th in terms of best performing suburbs in SA
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.54% offered to property buyers. Sellers in Pooraka itself are offering an average vendor discount of -4.50% to real estate investors.
Pooraka has had a A very good year for property investment returns compared to the rest of SA, giving investors a capital gain of 16.15% to date .
Pooraka,5095 has offered an average of 16.15% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Pooraka is offering property investors an average of -6.11. This rate of discount on properties puts Suburb at number 97th in terms of most discounted suburbs in SA
Often selling an investment property can take time, and in Pooraka the average time real estate has been on the market is 84.82 days.
With the median price for a house in Pooraka being $302000 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 4.82%
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.