Investment property in Seacombe Gardens has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -0.43%
Seacombe Gardens,5047 was ranked 3256 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Seacombe Gardens are currently offering property investors an average price cut of -6.03% below the asking price at the moment.
Seacombe Gardens, 5047’s gross rental yield is 4.77%
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Located 12 km from Adelaide CBD, Seacombe Gardens is a good place to pick up homes to renovate for profit according to Rob Williams, runner up of the inaugural Your Investment Property Investor of the Year Awards 2008.
The suburb has large blocks and older style houses which can be upgraded and subdivided to cater for the younger demographics in the area.
“There is a lot of subdivision going on here at the moment. The downside of that is that there is upward pressure on prices making it hard to turn a profit on a renovation,” says Williams.
On the other hand, Williams says that in suburbs such as Seacombe Gardens, Oaklands Park and quite a few others, where there is a large enough price differential between renovated or new homes and unrenovated homes, there is potential to take advantage of this development/subdivision price surge.
“Renovation opportunities on blocks too small to be subdivided tend to sell relatively cheaply as the only potential buyers are owner occupiers and maybe a few investors,” says Williams. “By not competing with the frenzied bidding of the developers, it’s sometimes possible to snag an attractive buy.
"The suburb benefits from the influx of money and becomes more sought after and values often tend to move upward. The rising tide floats all boats, including the smaller properties on blocks without development potential. There will always be buyers and renters for these types of properties, too, post renovation – as they provide a cheap entry point into up and coming suburbs.”