Property value increases in West Lakes have tracked just higher than the SA average of 1.54% over the last 12 months.
Over the longer term, West Lakes has seen property prices show investors a 3.06% return over the last 3 years. This is an improvement over the last 12 months
The most recent median price for West Lakes is $740000, with sellers offering an average of -5.94% off the asking price.
The SA suburb of West Lakes, 5021 is in the Charles Sturt (C) local government area.
West Lakes is in the bottom 40% in SA when comparing median price capital growth over the last year. West Lakes gave property investors a disappointing capital gain figure when compared to the rest of the state, with -2.92%.
West Lakes,5021 has offered an average of -2.92% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in West Lakes 5021 should be seeing an average reduction in asking price of around -4.46% . This means that West Lakes is holding prices well when compared to other suburbs in SA.
Using the current median advertised rental of $410 and the average annual increase in value of a median property of -3.07%, investors should hope to achieve an overall return of 5.14%
Information supplied by:
West Lakes, SA – June quarter reveals positivity
Median unit price: $410,000
Three-year growth: -0.8%
Rental yield: 5.2%
The home of the Westfield West Lakes Shopping Centre, the suburb of West Lakes is just half an hour from the Adelaide CBD. Despite a trend of decline in the past few years, the suburb has regained some ground over the June 2019 quarter as unit prices went up by 7.9%.
The residential island of Delfin is located within this suburb as well in Boating Lake, and buyers love West Lakes because of its proximity to the Grange jetty and Tennyson Beach. The Grange golf course is a popular spot as well, and the Grange train station is within walking distance. The friendly community certainly adds to its appeal to families.