Pooraka has had a quite poor year for property investment returns compared to the rest of SA, giving investors a capital gain of -1.11% to date .
A 14.84% growth in median value for property investors in Pooraka,5095 puts this suburb at number 251th in terms of best performing suburbs in SA
Our latest figures would indicate that property sellers in Pooraka are currently offering property investors an average price cut of -4.85% below the asking price at the moment.
Often selling an investment property can take time, and in Pooraka the average time real estate has been on the market is 50.21 days.
The SA suburb of Pooraka, 5095 is in the Salisbury local government area.
Over the last year, property investments in Pooraka, 5095 have given investors a capital gain of 5.28%. This compares averagely with the 3.57% for SA as a whole.
While Pooraka,5095 ranked number 66th in SA for increase in median house value (annualised) increase, it is ranked 76th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Pooraka is offering property investors an average of -6.00. This rate of discount on properties puts Suburb at number 108th in terms of most discounted suburbs in SA
Renters in Suburb are facing rents around $3330 per annum or $277.5 every week.
Located around 12km north of the Adelaide CBD, Pooraka has good access to the city via the Main North Road and is a couple of kilometres away from the nearest train station at Dry Creek.Full summary
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Located around 12km north of the Adelaide CBD, Pooraka has good access to the city via the Main North Road and is a couple of kilometres away from the nearest train station at Dry Creek.
It’s a suburb whose property market was a beneficiary of increased market confidence as 2011 progressed, says Raine & Horne Ingle Farm principal Wayne Masters.
“Australians still need and want to purchase homes,” he says. “We are seeing good levels of enquiry from local and interstate buyers, and we expect confidence to improve throughout the remainder of the year.”
And he believes that Pookara will continue to prove popular with both investors and owner-occupiers, thanks to the type of home that it has to offer.
“In Pooraka you can secure older-style three bedroom homes with large yards, which are ideal for families,” he says.
“These properties provide a point of difference to modern homes, which are typically on smaller blocks, and sell for between $290,000 and $350,000.”
He adds that many of these blocks can be developed, subject to council approval, which will be of particular interest to investors who are hoping to add value through development as the market recovers from its slow patch.