Prospect has had a pretty good year for property investment returns compared to the rest of SA, giving investors a capital gain of 8.53% to date .
While Prospect,5082 ranked number 257th in SA for increase in median house value (annualised) increase, it is ranked 94th over the last 5 years.
Property investors looking for a bargain in Prospect should be aiming for at least -4.20% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 16.92 sales per month, which equates to 203 per year.
Renters in Suburb are facing rents around $4800 per annum or $400 every week.
If you compare the increase in value of investment property in Prospect, 5082 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this SA suburb was 0.27%.
Prospect,5082 has offered an average of 0.27% return per annum in house price rises to property investors over the last three years.
At number 116th of SA’s most discounted properties, Prospect is in the TOP 30% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 8.67 sales per month, which equates to 104 per year.
Prospect is 143th on a list of best yielding suburbs for rents in SA with a 4.20% return
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.Full summary
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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.Close
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.