Suburb Profile Report for Hove SA (5048)

Hove House: Median price $642,500, Annual capital growth 0.64%, Number of sales 39, Weekly median advertised rent $425

Hove Unit: Median price $400,000, Annual capital growth 1.54%, Number of sales 17, Weekly median advertised rent $325

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Sep 2020 as supplied by CoreLogic. Data is reported to the period ending Jun 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

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:




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Growth flows steadily for beach suburb

Postcode: 5048

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.

Metrics i HOUSE UNIT
$642,500 $400,000
1.90% -13.98%
-6.88% 0.31%
0.64% 1.54%
$425 $325
39 17
3.44% 4.23%
55.5 N/A

Source: Monthly data update for Sep 2020 as supplied by CoreLogic. Data is reported to the period ending Jun 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 2939
Median household income ($/weekly) 1014
Median age of persons 51
Median housing loan repayment ($/monthly) 1600
Average household size 2.1
  • Census Count Percent(%)
    35-44 years 299 10.2
    45-54 years 372 12.7
    55-64 years 446 15.2
    65-74 years 302 10.3
    75-84 years 355 12.1
    Others 1164 39.6
    Age Group
    Census Count Percent(%)
    Registered Married 1126 50.8
    Not Married 950 42.9
    Defacto Relationship 139 6.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2141 75.7
    Greece 22 0.8
    Papua New Guinea 21 0.7
    United Kingdom 369 13.0
    Other 71 2.5
    Others 204 7.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 13 0.5
    Christianity 1892 70.2
    Hinduism 17 0.6
    Islam 16 0.6
    No Religion 738 27.4
    Others 18 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 115 10.2
    $400-$599 136 12.1
    $600-$799 121 10.8
    $800-$999 130 11.6
    $1,500-$1,999 143 12.7
    Others 480 42.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1156 46.7
    Employed, worked full-time 718 29.0
    Employed, worked part-time 465 18.8
    Employed, away from work 86 3.5
    Unemployed, looking for work 53 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 180 14.2
    Professionals 337 26.5
    Technicians & trades workers 147 11.6
    Community & personal service workers 145 11.4
    Clerical & administrative workers 204 16.1
    Others 257 20.2
    Occupation
    Census Count Percent(%)
    Pre-school 21 3.8
    Infants/Primary 177 31.9
    Secondary 169 30.5
    Technical or Further Educational Institution 49 8.8
    University or other Tertiary Institutions 120 21.7
    Others 18 3.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1868 71.5
    Semi-detached, row or terrace house, townhouse 415 15.9
    Flat, unit or apartment 331 12.7
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 504 41.4
    Being purchased 332 27.3
    Rented 296 24.3
    Other tenure type 85 7.0
    Tenure Type
Census 2011, ABS
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