With a capital gain of 3.68% for the last 12 months, Pooraka, 5095 has performed for property investments than its average annual 3.91% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Pooraka has increased when compared to the 5 year average annual rate.
At number 256th of SA’s most discounted properties, Pooraka is in the TOP 40% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Pooraka have been waiting around 60.96 days to sell a property.
Advertised rents are around the $335 mark per week – giving a return of 4.94% based on the median price in Suburb
Pooraka has had a very poor year for property investment returns compared to the rest of SA, giving investors a capital gain of -10.17% to date .
Pooraka,5095 has offered an average of -10.17% return per annum in house price rises to property investors over the last three years.
The most recent median price for Pooraka is $265000, with sellers offering an average of -7.56% off the asking price.
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.