Prospect has had a quite poor year for property investment returns compared to the rest of SA, giving investors a capital gain of -3.08% to date .
Comparing Prospect,5082 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -4.28% to buyers in Prospect at the moment, which is less than average for the rest of SA.
Often selling an investment property can take time, and in Prospect the average time real estate has been on the market is 64.0506 days.
Advertised rents are around the $400 mark per week – giving a return of 2.94% based on the median price in Suburb
With a capital gain of 1.33% for the last 12 months, Prospect, 5082 has performed for property investments than its average annual 3.20% property growth over the last 5 years.
The five-year average increase in median property values for Prospect,5082 has given property investors a potential capital gain of 20.56% across each of those five years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Prospect, 5082. Typically our figures indicate that -0.97% is being offered, which puts this SA suburb at 686th most discounted overall in Australia.
Prospect is 78th on a list of best yielding suburbs for rents in SA with a 4.54% return
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Located 5km north of Adelaide, Prospect has been quietly gaining ground, even outpacing Adelaide’s performance during the past two years.
According to the stats from onthehouse.com.au, median house values in Prospect climbed by a total of 9.7% since 2013, compared to Adelaide metro’s 7% growth.
The suburb has been attracting a growing number of investors who are looking to redevelop or renovate, thanks to its abundant offering of character homes on large blocks of land.
This has resulted in gentrification that’s turning the suburb into a hip and desirable place for both homebuyers and renters.
The suburb’s tree-lined streets and well-maintained footpaths are also attracting families into the area. Barker Road hosts some of the most expensive properties in the area, while Old Street offers the cheapest homes.
Stay as far away as you can from Churchill Road and Regency Road as these are busy areas. Also, avoid the north side of Prospect Road if possible due to the developments in Churchill Road.