Property investors who have had real estate in Reynella, 5161 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 -2.00%
If we look at median property appreciation over just the last three months, Reynella has given property investors a paper return of 0.00%. This puts Suburb as 229 on a list of fastest fasting appreciating suburbs in SA
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.10% offered to property buyers. Sellers in Reynella itself are offering an average vendor discount of -6.87% to real estate investors.
The five-year average increase in median property values for Reynella,5161 has given property investors a potential capital gain of 10.84% across each of those five years.
Property investors should expect to get $295 weekly from the median priced house in this suburb.
Information supplied by:
Reynella, SA – Supply of houses inches upwards
Median house price: $330,000
Stock on market: 11.4%
12-month growth: 3.1%
Originally a large suburb that included Old Reynella and Reynella East, the metropolitan suburb of Reynella is part of the districts of Mawson and Mitchell in Adelaide and is popularly known as the site of the Junk Food Junction, as branches of all the major fast food outlets once congregated at the intersection of South Road, Adelaide and Pimpala Road.
The suburb is served by Adelaide Metro buses, and Sheriffs Road is linked to the Southern Expressway. Nearby shopping hubs are Westfield Marion, Centro Colonnades and the Southgate Plaza in Morphett Vale. This easy access to transit and shopping makes this a prime area for property buyers.
The number of properties in the suburb increased by 11.4% in the 12 months to June 2019. House values were also up by 3.1%.