If you compare the increase in value of investment property in Unley, 5061 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this SA suburb was 5.62%.
While Unley,5061 ranked number 362th in SA for increase in median house value (annualised) increase, it is ranked 155th over the last 5 years.
The most recent median price for Unley is $977500, with sellers offering an average of -7.65% off the asking price.
At number 1156 in a list of fastest selling suburbs, Unley is in the TOP 40% of suburbs in Australia with an average of days on market 58.69 for properties listed there.
Unley, 5061’s gross rental yield is 2.87%
Property investors who have had real estate in Unley, 5061 should be ok 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 2.51%
Unley,5061 was ranked 1208 in Australia by increase in median property value over the quarter.
Unley5061 is located in SA which offers an average discount of -6.10% to property investors. Unley itself is showing figures that indicate -5.60% is the average achievable by property buyers investing in the suburb.
Advertised rents are around the $375 mark per week – giving a return of 3.98% based on the median price in Suburb
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.