Suburb Profile Report for Modbury SA (5092)

Modbury House: Median price $389,999, Annual capital growth 2.18%, Number of sales 78, Weekly median advertised rent $350

Modbury Unit: Median price $253,000, Annual capital growth 0.05%, Number of sales 15, Weekly median advertised rent $290

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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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:


April 2019

M
O

W
E

Values fall but yields are high

Postcode: 5092      

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%.

Metrics i HOUSE UNIT
$389,999 $253,000
2.63% 0.20%
-1.39% -4.53%
2.18% 0.05%
$350 $290
78 15
4.67% 5.96%
50.1162790697675 125.384615384615

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 4924
Median household income ($/weekly) 923
Median age of persons 38
Median housing loan repayment ($/monthly) 1500
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 484 9.8
    25-34 years 800 16.2
    35-44 years 624 12.7
    45-54 years 555 11.3
    55-64 years 569 11.6
    Others 1892 38.4
    Age Group
    Census Count Percent(%)
    Registered Married 1713 46.0
    Not Married 1684 45.2
    Defacto Relationship 329 8.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 3142 66.1
    Croatia 167 3.5
    Indonesia 139 2.9
    United Kingdom 471 9.9
    Other 288 6.1
    Others 544 11.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 110 2.5
    Christianity 2721 60.7
    Hinduism 99 2.2
    Islam 194 4.3
    No Religion 1311 29.2
    Others 49 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 192 10.3
    $400-$599 271 14.5
    $600-$799 234 12.5
    $800-$999 214 11.4
    $1,500-$1,999 236 12.6
    Others 726 38.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1655 41.0
    Employed, worked full-time 1350 33.5
    Employed, worked part-time 709 17.6
    Unemployed, looking for work 185 4.6
    Employed, away from work 133 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 390 17.8
    Technicians & trades workers 359 16.4
    Community & personal service workers 279 12.7
    Clerical & administrative workers 330 15.0
    Labourers 262 11.9
    Others 573 26.1
    Occupation
    Census Count Percent(%)
    Pre-school 62 5.6
    Infants/Primary 319 28.8
    Secondary 230 20.8
    Technical or Further Educational Institution 152 13.7
    University or other Tertiary Institutions 286 25.8
    Others 58 5.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3770 82.7
    Semi-detached, row or terrace house, townhouse 684 15.0
    Flat, unit or apartment 106 2.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 679 34.5
    Being purchased 667 33.9
    Rented 555 28.2
    Other tenure type 66 3.4
    Tenure Type
Census 2011, ABS
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