At number 2253th in the list of Australian suburbs ordered by increase in median house value over the last year, Morphett Vale, 5162 is in the BOTTOM 50% with a property value increase of 1.64% recorded in median house prices.
Morphett Vale,5162 was ranked 1929 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -4.27% to buyers in Morphett Vale at the moment, which is less than average for the rest of SA.
On average over the past year, suburb has had 27.25 sales per month, which equates to 327 per year.
Morphett Vale, 5162’s gross rental yield is 5.45%
Property value increases in Morphett Vale have tracked just lower than the SA average of -0.89% over the last 12 months.
Taking the average capital gain, or increase in median house value, Morphett Vale,5162 has racked up an average of -5.26% over the period. This ranks it number 982th in the whole country for real estate investors looking at median house price increases.
At number 7th of SA’s most discounted properties, Morphett Vale is in the TOP 40% of the state/territory when listing in order of most discounted to least.
Renters in Suburb are facing rents around $14560 per annum or $280 every week.
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Morphett Vale is considered one of the best places to live in Southern Adelaide.
As the state’s largest suburb, there is an incredibly diverse range of comforts and features on offer.
Once a rural town, this suburb now represents the best of outer city living.
The area is significantly popular with established families and couples.
The friendly community atmosphere is met with the convenience of excellent amenities.
Over 10 schools are littered across the suburb along with a range of parks and sports clubs.
The main commercial area is down Main South Road but with approximately 1,000 businesses spread throughout Morphett Vale, residents are spoiled for choice.
With a vacancy rate of just 0.76%, this suburb is gaining some serious interest.
Although it will take 25 minutes to get into the CBD, location is not an issue.
Close to the beach and National Parks, Morphett Vale offers a very attractive lifestyle.
A median unit price of $241,000 indicates a very affordable suburb.