Smithfield is in the TOP 30% in SA when comparing median price capital growth over the last year. Smithfield gave property investors a good capital gain figure when compared to the rest of the state, with 14.29%.
Taking the average capital gain, or increase in median house value, Smithfield,5114 has racked up an average of 14.29% over the period. This ranks it number 3861th in the whole country for real estate investors looking at median house price increases.
On average over the past year, suburb has had 3.67 sales per month, which equates to 44 per year.
A $290 per week rent on the median house gives suburb investors a gross yield of circa 5.80%, without taking into account capital value appreciation, which has been averaging out at 0.37%.
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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.