With a capital gain of -1.11% for the last 12 months, Ottoway, 5013 has performed for property investments than its average annual 1.18% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Ottoway has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Ottoway is offering property investors an average of -6.73. This rate of discount on properties puts Suburb at number 69th in terms of most discounted suburbs in SA
Situated 10.65km from the CBD, Ottoway is one of Port Adelaide Enfield (C) localities in the postcode 5013.
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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.