At number 2512th in the list of Australian suburbs ordered by increase in median house value over the last year, Ottoway, 5013 is in the BOTTOM 40% with a property value increase of 0.55% recorded in median house prices.
Ottoway,5013 was ranked 2110 in Australia by increase in median property value over the quarter.
On average over the past year, suburb has had 2.33 sales per month, which equates to 28 per year.
Ottoway is 102th on a list of best yielding suburbs for rents in SA with a 5.09% return
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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.