Investment property in Wirrina Cove has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -28.57%
Comparing Wirrina Cove,5204 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
Property buyers and investors in Wirrina Cove 5204 should be seeing an average reduction in asking price of around 0.00% . This means that Wirrina Cove is holding prices well when compared to other suburbs in SA.
Using the current median advertised rental of $170 and the average annual increase in value of a median property of -0.94%, investors should hope to achieve an overall return of 11.79%
Information supplied by:
Holidaymaker suburb on a downswing
Median unit price: $74,750
Five-year growth: -23.7%
Rental yield: 11.8%
Around an hour’s drive from the centre of Adelaide, the suburb of Wirrina Cove on the Fleurieu Peninsula is a holidaymaker’s dream due to its position on the water, whilst also being nearby to hillsides, with a peaceful country atmosphere. It is nestled between the towns of Second Valley and Normanville.
Popular activities here include fishing for seafood like squid and whiting. Wirrina Cove Holiday Park is a hotbed of natural beauty, with walking trails to enjoy the sights and incredible ocean views. Wirrina Cove also contains a golf course.
The unit market struggles against a downturn as prices plummeted all the way down to $74,750 after a 30% decline in the 12 months to January 2019. Nonetheless, apartments spend less than 20 days on the market before selling likely due to the very low price tag.