If you compare the increase in value of investment property in Glenelg, 5045 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this SA suburb was 19.32%.
Taking the average capital gain, or increase in median house value, Glenelg,5045 has racked up an average of 19.32% over the period. This ranks it number 1978th in the whole country for real estate investors looking at median house price increases.
A $605 per week rent on the median house gives suburb investors a gross yield of circa 3.00%, without taking into account capital value appreciation, which has been averaging out at 5.19%.
Investment property in Glenelg has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 19.33%
Over the longer term, Glenelg has seen property prices show investors a 17.23% return over the last 3 years. This is an improvement over the last 12 months
In the last year 137 properties changed hands in Glenelg, which puts it as the 2nd most active market in SA when comparing the number of sales per suburb.
Glenelg, 5045’s gross rental yield is 4.11%
By the sea in Adelaide’s south-west, the suburb of Glenelg seems to have hit somewhat of a rough patch in recent times.Full summary
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By the sea in Adelaide’s south-west, the suburb of Glenelg seems to have hit somewhat of a rough patch in recent times.Close
Currently, the median house price sits $865,000, though there are indicators that it could soon become more affordable.
The latest data from CoreLogic RP Data has revealed a 12% drop in house values over the past year, while over the past five years values have fallen 9%.
Investors aren’t seeing any real cash flow that would ease that pain either, with Glenelg’s rental yield currently sitting at just 3%.
Glenelg is around a 20-minute drive to Adelaide CBD, while the tram line that runs through the suburb can have commuters in the city centre in just over half an hour.
Adelaide Airport is just to the north of Glenelg, while there are a number of shopping centres within the suburb.