Suburb Profile Report for West Lakes SA (5021)

West Lakes House: Median price $901,500, Annual capital growth 2.87%, Number of sales 87, Weekly median advertised rent $595

West Lakes Unit: Median price $430,000, Annual capital growth -0.90%, Number of sales 69, Weekly median advertised rent $415

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Investment property in West Lakes has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.69%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Lakes has increased when compared to the 5 year average annual rate.

Sellers are offering property buyers an average discount of -3.01% to buyers in West Lakes at the moment, which is less than average for the rest of SA.

In the last year 87 properties changed hands in West Lakes, which puts it as the 81th most active market in SA when comparing the number of sales per suburb.

With the median price for a house in West Lakes being $901500 and the advertised rent reaching $595 the gross rental yield for property investors calculates out to be 3.43%

West Lakes has had a quite poor year for property investment returns compared to the rest of SA, giving investors a capital gain of -2.27% to date .

West Lakes,5021 has offered an average of -2.27% return per annum in house price rises to property investors over the last three years.

LACK OF BUYER INTEREST may well be the reason that West Lakes is offering property investors an average of -4.50. This rate of discount on properties puts Suburb at number 5th in terms of most discounted suburbs in SA

Information supplied by:




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West Lakes, SA – June quarter reveals positivity

Postcode: 5021

Median unit price: $410,000

Three-year growth: -0.8%

Rental yield: 5.2%

The home of the Westfield West Lakes Shopping Centre, the suburb of West Lakes is just half an hour from the Adelaide CBD. Despite a trend of decline in the past few years, the suburb has regained some ground over the June 2019 quarter as unit prices went up by 7.9%.

The residential island of Delfin is located within this suburb as well in Boating Lake, and buyers love West Lakes because of its proximity to the Grange jetty and Tennyson Beach. The Grange golf course is a popular spot as well, and the Grange train station is within walking distance. The friendly community certainly adds to its appeal to families.

Metrics i HOUSE UNIT
$901,500 $430,000
6.06% 3.61%
12.69% -2.27%
2.87% -0.90%
$595 $415
87 69
3.43% 5.02%
90.5428571428572 69.2857142857143

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 5728
Median household income ($/weekly) 1164
Median age of persons 52
Median housing loan repayment ($/monthly) 1733
Average household size 2.3
  • Census Count Percent(%)
    35-44 years 552 9.6
    45-54 years 759 13.2
    55-64 years 1071 18.7
    65-74 years 805 14.1
    75-84 years 587 10.2
    Others 1955 34.1
    Age Group
    Census Count Percent(%)
    Registered Married 2797 59.1
    Not Married 1661 35.1
    Defacto Relationship 277 5.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 4187 76.4
    Hong Kong 74 1.3
    Japan 138 2.5
    United Kingdom 378 6.9
    Other 180 3.3
    Others 526 9.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 50 0.9
    Christianity 4197 78.4
    Islam 34 0.6
    Other Religious Groups 29 0.5
    No Religion 1028 19.2
    Others 18 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 270 12.4
    $600-$799 244 11.2
    $800-$999 224 10.3
    $1,000-$1,249 181 8.3
    $1,500-$1,999 265 12.2
    Others 987 45.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2105 42.8
    Employed, worked full-time 1585 32.2
    Employed, worked part-time 933 19.0
    Employed, away from work 183 3.7
    Unemployed, looking for work 117 2.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 468 17.3
    Professionals 518 19.2
    Technicians & trades workers 313 11.6
    Clerical & administrative workers 510 18.9
    Sales 309 11.4
    Others 583 21.6
    Occupation
    Census Count Percent(%)
    Pre-school 42 4.4
    Infants/Primary 323 34.1
    Secondary 243 25.7
    Technical or Further Educational Institution 89 9.4
    University or other Tertiary Institutions 216 22.8
    Others 34 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4079 75.3
    Semi-detached, row or terrace house, townhouse 923 17.0
    Flat, unit or apartment 412 7.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1262 54.5
    Being purchased 541 23.4
    Rented 420 18.2
    Other tenure type 91 3.9
    Tenure Type
Census 2011, ABS
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