Smithfield is an average performer in SA when comparing median price capital growth over the last year. Smithfield gave property investors a average capital gain figure when compared to the rest of the state, with 2.04%.
If we look at median property appreciation over just the last three months, Smithfield has given property investors a paper return of -7.24%. This puts Suburb as 413 on a list of fastest fasting appreciating suburbs in SA
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.55% offered to property buyers. Sellers in Smithfield itself are offering an average vendor discount of -4.45% to real estate investors.
In the last year 30 properties changed hands in Smithfield, which puts it as the 294th most active market in SA when comparing the number of sales per suburb.
With the median price for a house in Smithfield being $250000 and the advertised rent reaching $270 the gross rental yield for property investors calculates out to be 5.62%
Located around 30km north of the Adelaide CBD, Smithfield is certainly one to watch according to Century 21 chief Charles Tarbey.Full summary
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Located around 30km north of the Adelaide CBD, Smithfield is certainly one to watch according to Century 21 chief Charles Tarbey.
“Smithfield is growing quickly, supported by significant government investment in the area, for example the recently opened Northern Express super highway which links the suburb to the CBD,” he says.
“Currently the area has a number of residential developments under construction, along with new schools, shopping and medical facilities. With the RAAF base expanding into the area – bringing 4,000 personnel and their families – there is great investment potential in the area.”
Add to this an eminently affordable median house price tag, and Smithfield certainly looks like an attractive option.
Smithfield’s vacancy rate has crept up to above 3% in recent times, according to SQM Research, but the influx of defence personnel into the area should help to bring this down.
Smithfield does well for amenities, with the Munno Parra Shopping City being in the suburb, and has its own train station that offers 40-minute trips into the centre of the city.