At number 1167th in the list of Australian suburbs ordered by increase in median house value over the last year, Glenelg, 5045 is in the top 30% with a property value increase of 18.35% recorded in median house prices.
Glenelg,5045 was ranked 3149 in Australia by increase in median property value over the quarter.
In the last year 19 properties changed hands in Glenelg, which puts it as the 392th most active market in SA when comparing the number of sales per suburb.
With the median price for a house in Glenelg being $1112500 and the advertised rent reaching $580 the gross rental yield for property investors calculates out to be 2.71%
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.50% offered to property buyers. Sellers in Glenelg itself are offering an average vendor discount of -4.52% to real estate investors.
In the last year 174 properties changed hands in Glenelg, which puts it as the 2nd most active market in SA when comparing the number of sales per suburb.
Situated 9.87km from the CBD, Glenelg is one of Holdfast Bay (C) localities in the postcode 5045.
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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.
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.