If you compare the increase in value of investment property in Ottoway, 5013 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this SA suburb was 5.24%.
While Ottoway,5013 ranked number 68th in SA for increase in median house value (annualised) increase, it is ranked 59th over the last 5 years.
At number 101th of SA’s most discounted properties, Ottoway is in the bottom 40% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Ottoway have been waiting around 57.25 days to sell a property.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.90%, without taking into account capital value appreciation, which has been averaging out at 2.32%.
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