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 27.45%
Glenelg,5045 was ranked 324 in Australia by increase in median property value over the quarter.
Glenelg, 5045’s gross rental yield is 2.97%
Giving property investors a an unimpressive capital gain of -5.10% for the last year, Glenelg, 5045 is the 967th highest performer in Australia in this respect.
Glenelg,5045 was ranked 1315 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Glenelg is offering property investors an average of -6.93. This rate of discount on properties puts Suburb at number 37th in terms of most discounted suburbs in SA
Glenelg is 74th on a list of best yielding suburbs for rents in SA with a 4.56% return
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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.