Over the last year, property investments in Glenelg, 5045 have given investors a capital gain of -8.68%. This compares very badly with the 3.26% for SA as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Glenelg has fallen somewhat when compared to the 5 year average annual rate.
Situated 9.64km from the CBD, Glenelg is one of Holdfast Bay (C) localities in the postcode 5045.
If you compare the increase in value of investment property in Glenelg, 5045 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this SA suburb was -7.53%.
The five-year average increase in median property values for Glenelg,5045 has given property investors a potential capital gain of 7.50% across each of those five years.
Glenelg5045 is located in SA which offers an average discount of -5.02% to property investors. Glenelg itself is showing figures that indicate -3.55% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Glenelg the average time real estate has been on the market is 90.66 days.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
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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.