At number 726th in the list of Australian suburbs ordered by increase in median house value over the last year, Thebarton, 5031 is in the top 20% with a property value increase of 7.07% recorded in median house prices.
Across a shorter period, Thebarton, 5031 has seen a median price increase of 0.81% over the last quarter.
On average over the past year, suburb has had 0.83 sales per month, which equates to 10 per year.
The SA suburb of Thebarton, 5031 is in the West Torrens (C) local government area.
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Median House Price: $612k
Current Yield (houses): 3.8%
Average annual growth (houses): 5.3%
A convenient 4.1km from Adelaide’s central business district, Thebarton has emerged as a thriving suburb, teeming with stylish cafes, restaurants and shops. The median house price sits at $612k and values have climbed a considerable average annual growth rate of 5.3%
The city can be reached by walking distance or by a free local tram connection.
“It is in the early stages of gentrification and attracting young professionals who work in the city and can afford to pay relatively high rents to live close to their work,” shares Peter Koulizos, program director of the Master of Property at the University of Adelaide.
“The university campuses and TAFE within the city centre attract students to this suburb as they wish to be close to their place of study.”
Investors can potentially pocket a median weekly rental income of $450 for units, and the gross rental yield for units come in at 3.8%.
There are a number of schools in the immediate and surrounding region, and Royal Adelaide Hospital can be reached within a 7-minute drive.
Considering Thebarton’s ease of access to the city, house values are relatively advantageous, and values show potential to incline alongside the suburb’s ongoing upscaling.