Property value increases in Unley have tracked just higher than the SA average of 2.10% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Unley has increased when compared to the 5 year average annual rate.
Renters in Suburb are facing rents around $27040 per annum or $520 every week.
Unley, 5061 ranked 7th in SA when comparing growth in median property values or capital gain over the last 12 months. Unley is one of 853 in our list for SA
Unley,5061 was ranked 1273 in Australia by increase in median property value over the quarter.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.88% offered to property buyers. Sellers in Unley itself are offering an average vendor discount of -7.68% to real estate investors.
Residents and property investors in Unley have been waiting around 72.4583 days to sell a property.
With the median price for a house in Unley being $411250 and the advertised rent reaching $355 the gross rental yield for property investors calculates out to be 4.49%
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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.