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 28.23%
Glenelg,5045 was ranked 1580 in Australia by increase in median property value over the quarter.
A $610 per week rent on the median house gives suburb investors a gross yield of circa 2.97%, without taking into account capital value appreciation, which has been averaging out at 5.55%.
SA has seen average median house prices change by 3.17% which means that Glenelg, 5045 has done well for property investors by showing a capital gain of 3.91% over the last year
Glenelg,5045 was ranked 1496 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Glenelg should be aiming for at least -6.38% off the asking price, which is the average vendor discount being achieved at the moment.
At number 1115 in a list of fastest selling suburbs, Glenelg is in the bottom 30% of suburbs in Australia with an average of days on market 95.35 for properties listed there.
Glenelg is 136th on a list of best yielding suburbs for rents in SA with a 4.30% return
By the sea in Adelaide’s south-west, the suburb of Glenelg seems to have hit somewhat of a rough patch in recent times.Full summary
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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.Close
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.