West Lakes has had a pretty average year for property investment returns compared to the rest of SA, giving investors a capital gain of 1.23% to date .
The five-year average increase in median property values for West Lakes,5021 has given property investors a potential capital gain of -2.87% across each of those five years.
Property buyers and investors in West Lakes 5021 should be seeing an average reduction in asking price of around -5.80% . This means that West Lakes is holding prices well when compared to other suburbs in SA.
On average over the past year, suburb has had 6.67 sales per month, which equates to 80 per year.
A $495 per week rent on the median house gives suburb investors a gross yield of circa 3.58%, without taking into account capital value appreciation, which has been averaging out at 1.39%.
Property value increases in West Lakes have tracked just higher than the SA average of 1.05% over the last 12 months.
A 3.30% growth in median value for property investors in West Lakes,5021 puts this suburb at number 30th in terms of best performing suburbs in SA
West Lakes, 5021 is offering SA ‘s 49th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this SA.
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.