Giving property investors a a poor capital gain of -34.58% for the last year, Port Adelaide, 5015 is the 4111th highest performer in Australia in this respect.
A -15.97% growth in median value for property investors in Port Adelaide,5015 puts this suburb at number 375th in terms of best performing suburbs in SA
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.20% offered to property buyers. Sellers in Port Adelaide itself are offering an average vendor discount of -7.97% to real estate investors.
Residents and property investors in Port Adelaide have been waiting around 68.3 days to sell a property.
The SA suburb of Port Adelaide, 5015 is in the Port Adelaide Enfield local government area.
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.