Investment property in Pooraka 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 3.52%
Pooraka,5095 has offered an average of 3.52% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -5.13% to buyers in Pooraka at the moment, which is less than average for the rest of SA.
On average over the past year, suburb has had 9.33 sales per month, which equates to 112 per year.
The SA suburb of Pooraka, 5095 is in the Salisbury local government area.
With a capital gain of 7.55% for the last 12 months, Pooraka, 5095 has performed for property investments than its average annual 3.53% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Pooraka comes in at number 91th in SA.
Property buyers and investors in Pooraka 5095 should be seeing an average reduction in asking price of around -4.80% . This means that Pooraka is holding prices well when compared to other suburbs in SA.
With the median price for a house in Pooraka being $285000 and the advertised rent reaching $285 the gross rental yield for property investors calculates out to be 5.20%
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
Information supplied by:
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.