Investment property in St Marys 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 0.42%
A 18.31% growth in median value for property investors in St Marys,5042 puts this suburb at number 342th in terms of best performing suburbs in SA
Vendor discounting in St Marys is giving property investors an average Vendor Discount of around -7.59%. This puts suburb at number 63th in SA when ranking the most discounted suburbs.
Residents and property investors in St Marys have been waiting around 66.6957 days to sell a property.
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Less than five minutes’ drive to Flinders University and Flinders Medical Centre, St Marys is the next big growth suburb in Adelaide’s southern corridor.
“There’s a lot of areas through here that tend to be well-kept secrets,” says Greg Swift, sales consultant at Ray White Marion. “Then all of a sudden they pop up into everybody’s view and they take off from there. Seacombe Gardens/Dover Gardens [5km down the road towards Brighton] went through all of that many years ago; it just went wild with investors. That’s now moving to Clovelly Park and St Marys.”
Part of the attraction of this suburb is the relatively liberal council subdivision rules. “You can subdivide quite tightly in St Marys,” says Swift. “There’s a number of units scattered through there. Mainly, however, they’re the older homes – the bigger block. There hasn’t been a lot of sub-development, but it’s starting now.” The potential here is enormous.
Be careful which end of St Marys you look at, though, as the western side is quite industrial. “All of Pinn Street and Ragless – that’s industrial through there, all commercial. Stay away from that,” Swift advises. “You’d move more towards the Pasadena side. Cashell Street is a very nice, tree-lined street. A lot of older homes there on big blocks, so developers are keen to look at those properties.”
Other popular streets include St Marys Street and Donald Street at the northern end. “That’s a very lovely little pocket,” says Swift. “It’s quiet, it’s close to Daws Road and you’ve got the Repat [General Hospital], which isn’t far away. It’s very tightly held.”