Property investors who have had real estate in Glenelg, 5045 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 41.85%
Taking the average capital gain, or increase in median house value, Glenelg,5045 has racked up an average of 41.85% over the period. This ranks it number 7th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -3.52% to buyers in Glenelg at the moment, which is less than average for the rest of SA.
Often selling an investment property can take time, and in Glenelg the average time real estate has been on the market is 92.3478 days.
Advertised rents are around the $410 mark per week – giving a return of 3.27% based on the median price in Suburb
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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.