Prospect has had a pretty good year for property investment returns compared to the rest of SA, giving investors a capital gain of 4.94% to date .
Across a shorter period, Prospect, 5082 has seen a median price increase of -0.55% over the last quarter.
Vendor discounting in Prospect is giving property investors an average Vendor Discount of around -5.86%. This puts suburb at number 179th in SA when ranking the most discounted suburbs.
The SA suburb of Prospect, 5082 is in the Prospect (C) local government area.
SA has seen average median house prices change by 1.05% which means that Prospect, 5082 has done well for property investors by showing a capital gain of 3.17% over the last year
The five-year average increase in median property values for Prospect,5082 has given property investors a potential capital gain of 19.98% across each of those five years.
At number 46th of SA’s most discounted properties, Prospect is in the TOP 20% of the state/territory when listing in order of most discounted to least.
With the median price for a house in Prospect being $373750 and the advertised rent reaching $330 the gross rental yield for property investors calculates out to be 4.59%
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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.