Giving property investors a a solid capital gain of 18.04% for the last year, Port Adelaide, 5015 is the 630th highest performer in Australia in this respect.
Over the longer term, Port Adelaide has seen property prices show investors a 3.94% return over the last 3 years. This is an improvement over the last 12 months
A $380 per week rent on the median house gives suburb investors a gross yield of circa 4.68%, without taking into account capital value appreciation, which has been averaging out at 3.95%.
At number 260th in the list of Australian suburbs ordered by increase in median house value over the last year, Port Adelaide, 5015 is in the top 20% with a property value increase of 16.14% recorded in median house prices.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 0.37%, investors should hope to achieve an overall return of 4.73%
Port Adelaide may not have taken off the way investors had hoped when grand plans were announced for $1.5bn in redevelopments several years ago, but it could still be set for the type of growth that saw the regeneration of industrial suburbs in Melbourne and Sydney.Full summary
Information supplied by:
Port Adelaide may not have taken off the way investors had hoped when grand plans were announced for $1.5bn in redevelopments several years ago, but it could still be set for the type of growth that saw the regeneration of industrial suburbs in Melbourne and Sydney.
“It’s industrial, but so were places like the Docklands [Melbourne] and places in Sydney, like the wharfs that they’ve turned around,” says Angelo Mena, managing director of Adelaide Property Finders.
“People are screaming about Christies Beach because it’s $300,000 to $350,000 to get into a reasonable place there and you’re close to the beach, but you’re 30-35km from the city. Port Adelaide is much closer.”
At around 15km from the CBD along Port Road, Port Adelaide is certainly accessible by car, and is just 20 minutes from Adelaide station by train.
The rental market is tight, with vacancy rates having however around the 2% mark since August 2010, according to SQM Research, and the average yield for houses is relatively strong at more than 5%.
“The vision that people had five or 10 years ago when they were planning all of this may have stalled, but it will come to fruition,” says Mena.