Advertised rents are around the $195 mark per week – giving a return of 8.19% based on the median price in Suburb
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Holidaymaker suburb on a downswing
Median unit price: $74,750
Five-year growth: -23.7%
Rental yield: 11.8%
Around an hour’s drive from the centre of Adelaide, the suburb of Wirrina Cove on the Fleurieu Peninsula is a holidaymaker’s dream due to its position on the water, whilst also being nearby to hillsides, with a peaceful country atmosphere. It is nestled between the towns of Second Valley and Normanville.
Popular activities here include fishing for seafood like squid and whiting. Wirrina Cove Holiday Park is a hotbed of natural beauty, with walking trails to enjoy the sights and incredible ocean views. Wirrina Cove also contains a golf course.
The unit market struggles against a downturn as prices plummeted all the way down to $74,750 after a 30% decline in the 12 months to January 2019. Nonetheless, apartments spend less than 20 days on the market before selling likely due to the very low price tag.