Modbury, 5092 ranked 291th in SA when comparing growth in median property values or capital gain over the last 12 months. Modbury is one of 853 in our list for SA
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Modbury has increased when compared to the 5 year average annual rate.
Vendor discounting in Modbury is giving property investors an average Vendor Discount of around -4.63%. This puts suburb at number 270th in SA when ranking the most discounted suburbs.
On average over the past year, suburb has had 6.50 sales per month, which equates to 78 per year.
Property investors who have had real estate in Modbury, 5092 should be relatively unhappy with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.53%
Taking the average capital gain, or increase in median house value, Modbury,5092 has racked up an average of -4.53% over the period. This ranks it number 918th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Modbury 5092 should be seeing an average reduction in asking price of around -5.39% . This means that Modbury is holding prices well when compared to other suburbs in SA.
At number 1269 in a list of fastest selling suburbs, Modbury is in the bottom 10% of suburbs in Australia with an average of days on market 125.385 for properties listed there.
Information supplied by:
Values fall but yields are high
Median unit price: $259,000
Three-year growth: 2.6%
Rental yield: 5.6%
Located within Tea Tree Gully City, the suburb of Modbury is the home of the Westfield Tea Tree Plaza, the second-largest shopping centre in Adelaide and one of the main shopping hubs in Adelaide’s northeast region. It’s highly accessible as the O-Bahn Busway’s route terminates here.
The Tea Tree Gully campus of TAFE, Modbury High School and Modbury West are established in Modbury, although there are several schools in neighbouring pockets as well. Modbury also supports local sports team in Australian Rules football, soccer, tennis and bowling. Modbury’s Civic Park is a favourite recreation spot especially in warmer weather.
After a gentle boost in unit values in February 2016, the market is down in Modbury. Prices fell by 8.8% in the 12 months to February 2019 to just over $250,000. Yields remain reasonably strong at an average of 5.6%.