If you compare the increase in value of investment property in Clarence Park, 5034 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this SA suburb was 16.67%.
Clarence Park,5034 was ranked 1509 in Australia by increase in median property value over the quarter.
Vendor discounting in Clarence Park is giving property investors an average Vendor Discount of around 0.00%. This puts suburb at number 293th in SA when ranking the most discounted suburbs.
Property investors should expect to get $280 weekly from the median priced house in this suburb.
Investment property in Clarence Park 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 10.79%
Across a shorter period, Clarence Park, 5034 has seen a median price increase of 6.94% over the last quarter.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -2.35% offered to property buyers. Sellers in Clarence Park itself are offering an average vendor discount of -3.24% to real estate investors.
The SA suburb of Clarence Park, 5034 is in the Unley (C) local government area.
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Units spend a short time on the market
Median unit price: $335,000
Three-year growth: 2.4%
Rental yield: 4.6%
Nestled within the inner south of Adelaide, the suburb of Clarence Park is bordered by several roads, namely, Mills Street, Cross Road and Goodwood Road. The Seaford railway line makes up part of the western boundary.
Despite its proximity to the city and the connecting streets, the suburb boasts a peaceful atmosphere that evokes the countryside. The shopping area is centred at Winston Avenue, which is also peppered with cafes. There’s a Woolsworths supermarket in the area as well. For public transport, residents can take either the bus or the train into the city.
Value growth in Clarence Park’s unit market peaked in the 12 months to January 2019 at 13%. Even though prices have steadily been on the up since 2014 and properties are selling in just 32 days on average, the median value remains under $350,000.