Suburb Profile Report for Largs North SA (5016)

Largs North House: Median price $426,000, Annual capital growth 1.40%, Number of sales 65, Weekly median advertised rent $385

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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Largs North is in the bottom 40% in SA when comparing median price capital growth over the last year. Largs North gave property investors a disappointing capital gain figure when compared to the rest of the state, with -2.07%.

Comparing Largs North,5016 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Our latest figures would indicate that property sellers in Largs North are currently offering property investors an average price cut of -20.41% below the asking price at the moment.

Largs North is 165th on a list of best yielding suburbs for rents in SA with a 4.70% return

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Largs North, SA

Median House Price: $429,000

Current Yield (houses): 4.8%

Average annual growth (houses): 1.6%

As is the case for many suburbs in Adelaide, the suburb of Largs North has affordability as its main drawing card, coupled with the potential to add value through renovation.

“Largs North is one of the cheapest seaside suburbs in Adelaide. Many of the houses are quite old and in need of repair, so there are some good renovating opportunities,” says Peter Koulizos.

About half an hour’s drive from the Adelaide CBD, Largs North sits on the Lefevre Peninsula. The port is located in the eastern part of the suburb and is known as Snowden Beach. Largs North also enjoys the advantage of being surrounded by suburbs with excellent amenities, such as Taperoo with its local high school. Largs North is also quite accessible, with three bus routes passing through the suburb and two train stations, Draper and Largs North, serving the residents along the Outer Harbor railway line.

The average annual growth rate here is a bit on the low side at 1.6%, but Koulizos looks to infrastructure projects on the horizon to foster an uptick in the market.

“The continuing redevelopment of nearby Port Adelaide to the south and the influx of defence workers at Osborne will help drive capital growth in Largs North,” he explains.

Metrics	HOUSE	UNIT
Median price	$426,000	N/A
Quarterly growth	0.83%	N/A
12-month growth	-2.07%	N/A
Average Annual Growth	1.40%	N/A
Weekly median advertised rent	$385	N/A
Number of sales	65	N/A
Gross rental yield	4.70%	N/A
Days on market	114.048780487805	N/A

DSR Score for property investment : Good (H), Balanced (U)

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Demographics

Total population	3270
Median household income ($/weekly)	1046
Median age of persons	43
Median housing loan repayment ($/monthly)	1664
Average household size	2.3

Census	Count	Percent(%)
5-14 years	366	11.2
25-34 years	359	11.0
35-44 years	431	13.2
45-54 years	483	14.8
55-64 years	374	11.4
Others	1258	38.5

Age Group

Census	Count	Percent(%)
Registered Married	1135	46.6
Not Married	1058	43.4
Defacto Relationship	242	9.9

Social Marital Status

Census	Count	Percent(%)
Australia	2535	81.8
Greece	36	1.2
Papua New Guinea	31	1.0
United Kingdom	289	9.3
Other	45	1.5
Others	162	5.2

Country of Birth

Census	Count	Percent(%)
Buddhism	25	0.8
Christianity	1983	67.2
Hinduism	7	0.2
Islam	14	0.5
No Religion	908	30.7
Others	16	0.5

Religious Affiliation

Census	Count	Percent(%)
$300-$399	125	10.5
$400-$599	155	13.1
$800-$999	114	9.6
$1,500-$1,999	152	12.8
$2,000-$2,499	129	10.9
Others	511	43.1

Gross Household Income (Weekly)

Census	Count	Percent(%)
Not in the labour force	1022	38.9
Employed, worked full-time	964	36.7
Employed, worked part-time	467	17.8
Employed, away from work	98	3.7
Unemployed, looking for work	79	3.0

Person Characteristics

Census	Count	Percent(%)
Professionals	274	18.0
Technicians & trades workers	246	16.2
Community & personal service workers	171	11.2
Clerical & administrative workers	278	18.3
Labourers	160	10.5
Others	394	25.9

Occupation

Census	Count	Percent(%)
Pre-school	36	5.8
Infants/Primary	250	40.2
Secondary	168	27.0
Technical or Further Educational Institution	67	10.8
University or other Tertiary Institutions	87	14.0
Others	14	2.3

Type of Educational Institution Attending

Census	Count	Percent(%)
Separate house	2581	87.0
Semi-detached, row or terrace house, townhouse	193	6.5
Flat, unit or apartment	188	6.3
House or flat attached to a shop, office	4	0.1
Caravan, cabin, houseboat	0	0.0
Others	0	0.0