Suburb Profile Report for Ardrossan SA (5571)

Ardrossan House: Median price $250,000, Annual capital growth 4.07%, Number of sales 22, Weekly median advertised rent $250

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Over the last year, property investments in Ardrossan, 5571 have given investors a capital gain of -9.09%. This compares very badly with the 2.79% for SA as a whole.

While Ardrossan,5571 ranked number 427th in SA for increase in median house value (annualised) increase, it is ranked 387th over the last 5 years.

A $250 per week rent on the median house gives suburb investors a gross yield of circa 5.20%, without taking into account capital value appreciation, which has been averaging out at 4.07%.

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Buying activity in Ardrossan has been solid in recent months, says LJ Hooker Ardrossan and Port Vincent principal Len Easther, with buyers snapping up new land subdivisions in the area.Full summary

Buying activity in Ardrossan has been solid in recent months, says LJ Hooker Ardrossan and Port Vincent principal Len Easther, with buyers snapping up new land subdivisions in the area.

“In the last 10 months there have been two land subdivisions that have been released, which is around about 55 allotments. Of those 55, about 32 have been sold, and they’re ranging in prices from $110,000 to $140,000,” he says. “Investors and owner-occupiers have been buying them.”

A major driver of the property investment market, he adds, is a major shortage of quality rental accommodation. Ardrossan’s residential vacancy rate is 1.4% according to SQM Research, and Easther explains that three-bedroom houses are particularly sought after by local employer Rex Minerals – as well as by private renters.

With Rex Minerals having made a significant copper discovery at its Hillside Project in 2009, several hundred resource workers are expected to head to the region in the coming years. The company also recently upgraded its $900m Hillside Project plans in October – suggesting a potential doubling of its original copper production forecast to 100 kilo-tonnes per annum.

Plans have also been announced for Suzlon Energy Australia to build a $1.3bn, 180 turbine, wind energy plant 20km from Ardrossan. The project is expected to create 500 jobs in the construction phase and 50 ongoing jobs upon completion in 2015.

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HOUSE UNIT
$250,000 N/A
-13.79% N/A
-9.09% N/A
4.07% N/A
$250 N/A
22 N/A
5.20% N/A
N/A N/A

Source: CoreLogic

DSR Score for property investment : Balanced (U), Balanced (H)
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Demographics
Total population 1136
Median household income ($/weekly) 692
Median age of persons 58
Median housing loan repayment ($/monthly) 1154
Average household size 1.9
  • Census Count Percent(%)
    5-14 years 86 7.6
    45-54 years 158 13.9
    55-64 years 198 17.4
    65-74 years 222 19.5
    75-84 years 160 14.1
    Others 313 27.5
    Age Group
    Census Count Percent(%)
    Registered Married 481 56.5
    Not Married 295 34.6
    Defacto Relationship 76 8.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 971 89.3
    Greece 6 0.6
    New Zealand 6 0.6
    United Kingdom 73 6.7
    Other 7 0.6
    Others 24 2.2
    Country of Birth
    Census Count Percent(%)
    Christianity 790 75.7
    No Religion 248 23.8
    Islam 6 0.6
    Buddhism 0 0.0
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 60 13.1
    $400-$599 105 22.9
    $600-$799 65 14.2
    $800-$999 53 11.5
    $1,000-$1,249 34 7.4
    Others 142 30.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 553 57.3
    Employed, worked full-time 226 23.4
    Employed, worked part-time 142 14.7
    Employed, away from work 32 3.3
    Unemployed, looking for work 12 1.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 57 14.3
    Professionals 49 12.3
    Technicians & trades workers 64 16.0
    Sales 44 11.0
    Labourers 62 15.5
    Others 123 30.8
    Occupation
    Census Count Percent(%)
    Pre-school 6 4.7
    Infants/Primary 63 48.8
    Secondary 37 28.7
    Technical or Further Educational Institution 11 8.5
    University or other Tertiary Institutions 6 4.7
    Others 6 4.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 863 87.6
    Caravan, cabin, houseboat 68 6.9
    Semi-detached, row or terrace house, townhouse 44 4.5
    Flat, unit or apartment 7 0.7
    House or flat attached to a shop, office 3 0.3
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 283 56.9
    Rented 113 22.7
    Being purchased 93 18.7
    Other tenure type 8 1.6
    Tenure Type
Census 2011, ABS
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