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 21.25%
Comparing Glenelg,5045 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Situated 9.68km from the CBD, Glenelg is one of Holdfast Bay (C) localities in the postcode 5045.
Glenelg is in the TOP 20% in SA when comparing median price capital growth over the last year. Glenelg gave property investors a very good capital gain figure when compared to the rest of the state, with 13.78%.
While Glenelg,5045 ranked number 16th in SA for increase in median house value (annualised) increase, it is ranked 8th over the last 5 years.
The most recent median price for Glenelg is $537500, with sellers offering an average of -6.25% off the asking price.
Situated 9.75km 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.