If you compare the increase in value of investment property in Millicent, 5280 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this SA suburb was 14.29%.
Over the longer term, Millicent has seen property prices show investors a 1.11% return over the last 3 years. This is an improvement over the last 12 months
Property investors looking for a bargain in Millicent should be aiming for at least -8.88% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $200 and the average annual increase in value of a median property of 0.17%, investors should hope to achieve an overall return of 6.50%
Millicent, 5280 ranked 28th in SA when comparing growth in median property values or capital gain over the last 12 months. Millicent is one of 853 in our list for SA
Millicent,5280 was ranked 55 in Australia by increase in median property value over the quarter.
At number 93th of SA’s most discounted properties, Millicent is in the middle of the state/territory when listing in order of most discounted to least.
At number 1211 in a list of fastest selling suburbs, Millicent is in the bottom 20% of suburbs in Australia with an average of days on market 106.4 for properties listed there.
A $140 per week rent on the median house gives suburb investors a gross yield of circa 5.78%, without taking into account capital value appreciation, which has been averaging out at -6.10%.