Paradise is an average performer in SA when comparing median price capital growth over the last year. Paradise gave property investors a average capital gain figure when compared to the rest of the state, with 2.45%.
The five-year average increase in median property values for Paradise,5075 has given property investors a potential capital gain of 28.31% across each of those five years.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.20% offered to property buyers. Sellers in Paradise itself are offering an average vendor discount of -5.04% to real estate investors.
Advertised rents are around the $375 mark per week – giving a return of 3.65% based on the median price in Suburb
Over the last year, property investments in Paradise, 5075 have given investors a capital gain of 10.08%. This compares favourably with the 3.07% for SA as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Paradise has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Paradise is offering property investors an average of -6.10. This rate of discount on properties puts Suburb at number 4th in terms of most discounted suburbs in SA
A $290 per week rent on the median house gives suburb investors a gross yield of circa 3.63%, without taking into account capital value appreciation, which has been averaging out at 4.47%.
Home to the Thorndon Park Reserve that may contribute to its name, Paradise certainly seems to be just that for many interested buyers.Full summary
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Riverside suburb lives up to its moniker
Median unit price: $335,000
Three-year growth: 3.08%
Rental yield: 4.50%
Home to the Thorndon Park Reserve that may contribute to its name, Paradise certainly seems to be just that for many interested buyers.
Apartments in this suburb are reasonably priced, with a median value of $335,000. Despite slower growth over recent years, its growth has peaked at over 18% in the past 12 months, even though it stumbled slightly over the March 2017 quarter. The average annual growth rate remains high at nearly 7%, which may suggest Paradise’s ability to hold on through an expected decline in South Australia.
Paradise is bounded in the north by the River Torrens, and while the suburb is primarily residential at present, it provides the advantages of having schools nearby, including several primary and secondary institutions. Buses can also bring commuters to Adelaide in under an hour.Close