Property investors who have had real estate in Somerton Park, 5044 should be pleased with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 6.90%
Comparing Somerton Park,5044 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Somerton Park, 5044. Typically our figures indicate that -5.71% is being offered, which puts this SA suburb at 2143th most discounted overall in Australia.
Advertised rents are around the $492.5 mark per week – giving a return of 2.80% based on the median price in Suburb
If you compare the increase in value of investment property in Somerton Park, 5044 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this SA suburb was 1.38%.
While Somerton Park,5044 ranked number 4th in SA for increase in median house value (annualised) increase, it is ranked 21th over the last 5 years.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.09% offered to property buyers. Sellers in Somerton Park itself are offering an average vendor discount of -8.30% to real estate investors.
Often selling an investment property can take time, and in Somerton Park the average time real estate has been on the market is 82.2632 days.
A $320 per week rent on the median house gives suburb investors a gross yield of circa 4.11%, without taking into account capital value appreciation, which has been averaging out at 3.73%.