Property value increases in Kensington have tracked just lower than the SA average of 10.08% over the last 12 months.
Comparing Kensington,5068 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
With a capital gain of 8.40% for the last 12 months, Kensington, 5068 has performed for property investments than its average annual 4.89% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Kensington has increased when compared to the 5 year average annual rate.
Often selling an investment property can take time, and in Kensington the average time real estate has been on the market is 32.2 days.
Kensington is 159th on a list of best yielding suburbs for rents in SA with a 3.08% return
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Just east of central Adelaide, within a 5km radius of the CBD, Kensington is worth keeping an eye on thanks largely to its excellent growth performance and relative affordability.
On the affordability stakes, nearby Kensington Park, Beulah Park and Norwood all have higher median house prices than Kensington’s.
Being that much further out from the CBD than more central Adelaide suburbs, such as Norwood, Kensington’s houses have a price point and block size that appeals to family buyers, notes Toop & Toop’s Simon Veitch. Schools too are a big drawcard.
“It’s further from the city, but it’s close to good schools,” he says. “Certain public school zones are popular in Adelaide, so families come here to get their kids into a good school. There are a couple of good private schools nearby too.”
The suburb offers some desirable and beautiful old character homes, as well as some newer property, he adds, with block sizes reaching 600 to 700m2.
The SLA’s unemployment rate was 3.5% at last count, and renters make up around a quarter of Kensington’s population.