Property investors who have had real estate in Hove, 5048 should be unhappy with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -6.88%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Hove has fallen somewhat when compared to the 5 year average annual rate.
Hove, 5048 is offering SA ‘s 116th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this SA.
Hove has had a pretty average year for property investment returns compared to the rest of SA, giving investors a capital gain of 0.31% to date .
Comparing Hove,5048 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
With the median price for a house in Hove being $400000 and the advertised rent reaching $325 the gross rental yield for property investors calculates out to be 4.23%
Information supplied by:
Growth flows steadily for beach suburb
Median unit price: $412,500
Three-year growth: 14.8%
Rental yield: 4.2%
The Adelaide suburb of Hove enjoys terrific views of the Gulf St Vincent, and is considered a lovely beachside paradise.
The suburb had a laudable 2018, with the median price for units passing the $400,000 mark following 7.1% growth in the year to November 2018. This adds another strong chapter to Hove’s years-long positive growth trend. Investors can also reap returns of 4.2% on average.
While the townhouses along the beach command the greatest prices, Hove offers a variety of properties, from 1920’s-era bungalows on large blocks of land to modern homes with a small garden.
The installation of a new electronic railway is expected to boost Hove’s appeal, as access to the city will become much easier. The Marlon shopping centre is walking distance, but Hove has many shops of its own on Jetty Road.