If you compare the increase in value of investment property in Glenelg, 5045 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 3.82%.
While Glenelg,5045 ranked number 120th in SA for increase in median house value (annualised) increase, it is ranked 148th over the last 5 years.
Using the current median advertised rental of $540 and the average annual increase in value of a median property of 5.38%, investors should hope to achieve an overall return of 3.45%
Property investors who have had real estate in Glenelg, 5045 should be relatively 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 6.33%
Across a shorter period, Glenelg, 5045 has seen a median price increase of -7.98% over the last quarter.
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 Glenelg, 5045. Typically our figures indicate that -6.22% is being offered, which puts this SA suburb at 375th most discounted overall in Australia.
With the median price for a house in Glenelg being $478500 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 4.35%
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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.