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:
West Lakes, SA – June quarter reveals positivity
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.