With a capital gain of 1.18% for the last 12 months, Morphett Vale, 5162 has performed for property investments than its average annual 3.75% 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 Morphett Vale has increased when compared to the 5 year average annual rate.
The most recent median price for Morphett Vale is $300000, with sellers offering an average of -5.43% off the asking price.
At number 719 in a list of fastest selling suburbs, Morphett Vale is in the TOP 20% of suburbs in Australia with an average of days on market 56.14 for properties listed there.
Property value increases in Morphett Vale have tracked close to the SA average of 3.03% over the last 12 months.
Taking the average capital gain, or increase in median house value, Morphett Vale,5162 has racked up an average of 2.22% over the period. This ranks it number 1353th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Morphett Vale is $230000, with sellers offering an average of -5.79% off the asking price.
Residents and property investors in Morphett Vale have been waiting around 90.97 days to sell a property.
Renters in Suburb are facing rents around $3180 per annum or $265 every week.
Morphett Vale is considered one of the best places to live in Southern AdelaideFull summary
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Morphett Vale is considered one of the best places to live in Southern Adelaide.Close
As the state’s largest suburb, there is an incredibly diverse range of comforts and features on offer.
Once a rural town, this suburb now represents the best of outer city living.
The area is significantly popular with established families and couples.
The friendly community atmosphere is met with the convenience of excellent amenities.
Over 10 schools are littered across the suburb along with a range of parks and sports clubs.
The main commercial area is down Main South Road but with approximately 1,000 businesses spread throughout Morphett Vale, residents are spoiled for choice.
With a vacancy rate of just 0.76%, this suburb is gaining some serious interest.
Although it will take 25 minutes to get into the CBD, location is not an issue.
Close to the beach and National Parks, Morphett Vale offers a very attractive lifestyle.
A median unit price of $241,000 indicates a very affordable suburb.