Investment property in Tea Tree Gully has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.69%
The five-year average increase in median property values for Tea Tree Gully,5091 has given property investors a potential capital gain of 16.67% across each of those five years.
Our latest figures would indicate that property sellers in Tea Tree Gully are currently offering property investors an average price cut of -8.39% below the asking price at the moment.
Property investors should expect to get $350 weekly from the median priced house in this suburb.
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New stock destabilises house values
Median house price: $395,000
Stock on market: 125%
12-month growth: -9.2%
Tea Tree Gully broke a streak of positive growth in the past 12 months when house values fell by nearly 10%.
During that same period, housing stock on the market more than doubled, from 11 properties to 26. With South Australia experiencing a flat period, this influx of new listings has likely upset the balance of demand and supply.
With prices now below the $400,000 mark, however, affordability could draw buyers to the suburb. Nearby suburbs such as Modbury and Hope Valley are home to amenities like shopping areas and schools like Modbury South Primary and Modbury High School. Ansley Hill Recreation Park is also adjacent to Tea Tree Gully.
Buses run daily from the stop at Perseverance Road to take commuters to Tea Tree Plaza and all the way to Adelaide.