Over the last year, property investments in Smithfield, 5114 have given investors a capital gain of -8.04%. This compares very badly with the 2.10% for SA as a whole.
Smithfield,5114 was ranked 2090 in Australia by increase in median property value over the quarter.
Property buyers and investors in Smithfield 5114 should be seeing an average reduction in asking price of around -4.69% . This means that Smithfield is holding prices well when compared to other suburbs in SA.
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Located around 30km north of the Adelaide CBD, Smithfield is certainly one to watch according to Century 21 chief Charles Tarbey.
“Smithfield is growing quickly, supported by significant government investment in the area, for example the recently opened Northern Express super highway which links the suburb to the CBD,” he says.
“Currently the area has a number of residential developments under construction, along with new schools, shopping and medical facilities. With the RAAF base expanding into the area – bringing 4,000 personnel and their families – there is great investment potential in the area.”
Add to this an eminently affordable median house price tag, and Smithfield certainly looks like an attractive option.
Smithfield’s vacancy rate has crept up to above 3% in recent times, according to SQM Research, but the influx of defence personnel into the area should help to bring this down.
Smithfield does well for amenities, with the Munno Parra Shopping City being in the suburb, and has its own train station that offers 40-minute trips into the centre of the city.