Ottoway is an average performer in SA when comparing median price capital growth over the last year. Ottoway gave property investors a good capital gain figure when compared to the rest of the state, with 4.82%.
Ottoway,5013 has offered an average of 4.82% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Ottoway is giving property investors an average Vendor Discount of around -8.89%. This puts suburb at number 49th in SA when ranking the most discounted suburbs.
On average over the past year, suburb has had 4.58 sales per month, which equates to 55 per year.
A $320 per week rent on the median house gives suburb investors a gross yield of circa 4.50%, without taking into account capital value appreciation, which has been averaging out at 2.38%.
Ottoway is recording remarkably low vacancy rates, with the average as of April 2017 being a mere 0.52%.Full summary
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It’s a tight squeeze inside this industrial suburb
Median house price: $345,000
Vacancy rate: 0.52%
Three-year growth: 18.97%
Despite Adelaide’s ongoing problems with the brain drain and a potential oversupply, the suburb of Ottoway is recording remarkably low vacancy rates, with the average as of April 2017 being a mere 0.52%.
The industrial suburb is only 12km from the Adelaide CBD and about 2km from Port Adelaide, which could account for its strong performance given the proximity to both the water and the city. This also means that residents have quick and easy access to the amenities offered by both major areas, including shops and markets, dining, art and entertainment. There are also schools of all levels located in Adelaide, as well as employment opportunities.
With the median house price hovering below $350,000, Ottoway can definitely be seen as an affordable alternative to its more prominent neighbours.Close