At number 1971th in the list of Australian suburbs ordered by increase in median house value over the last year, Unley, 5061 is in the top half with a property value increase of 7.88% recorded in median house prices.
A 24.55% growth in median value for property investors in Unley,5061 puts this suburb at number 218th in terms of best performing suburbs in SA
Renters in Suburb are facing rents around $6000 per annum or $500 every week.
Unley is an average performer in SA when comparing median price capital growth over the last year. Unley gave property investors a average capital gain figure when compared to the rest of the state, with 3.14%.
Over the longer term, Unley has seen property prices show investors a 23.31% return over the last 3 years. This is worse than over the last 12 months
Unley is 187th on a list of best yielding suburbs for rents in SA with a 3.51% return
Located just 3 km from Adelaide CBD, Unley also offers good renovation opportunities, says property academic Peter Koulizos.Full summary
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Located just 3 km from Adelaide CBD, Unley also offers good renovation opportunities, says property academic Peter Koulizos.
“There are a lot of character homes that you can transform to get a tidy profit,” he says.
For maximum profit, Koulizos says small to medium sized homes are the best due to the suburb’s high median.
“If you buy a larger home in Unley, it’s going to cost you a million dollars. The sort of renovations you want to do to a million dollar home have to be substantial, and the people who want to do that want to do it to their own taste. So you want to stick with smaller homes around the $400-500,000 mark," says Koulizos.
He suggests that the most profitable renovations in Unley are to modernise the kitchen and bathroom, and upgrade the flooring.
“People like older homes but modern day conveniences. They like modern kitchens and bathrooms so it’s ok to have modern décor inside and the period style décor style outside,” he says.