SA has seen average median house prices change by 2.10% which means that Victor Harbor, 5211 has done well for property investors by showing a capital gain of 0.52% over the last year
If we look at median property appreciation over just the last three months, Victor Harbor has given property investors a paper return of 0.52%. This puts Suburb as 213 on a list of fastest fasting appreciating suburbs in SA
Our latest figures would indicate that property sellers in Victor Harbor are currently offering property investors an average price cut of -8.08% below the asking price at the moment.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 1.81%, investors should hope to achieve an overall return of 4.91%
SA has seen average median house prices change by 1.05% which means that Victor Harbor, 5211 has done well for property investors by showing a capital gain of 11.67% over the last year
Over the longer term, Victor Harbor has seen property prices show investors a 14.04% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Victor Harbor is giving property investors an average Vendor Discount of around -6.52%. This puts suburb at number 31th in SA when ranking the most discounted suburbs.
On average over the past year, suburb has had 2.17 sales per month, which equates to 26 per year.
Advertised rents are around the $265 mark per week – giving a return of 5.14% based on the median price in Suburb
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Information supplied by:
February 2018
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Waterside suburb capitalises on affordability
Postcode: 5211
Median unit price: $248,500
Three-year growth: 14.5%
Rental yield: 6.7%
The suburb of Victor Harbor is the largest population centre on the Fleurieu Peninsula, and it has been on a roll for the past three years.
Victor Harbor’s unit market recorded 7.3% growth in the 12 months leading up to November 2017, and another 4.2% increase over the November 2017 quarter. Nonetheless, the median value has stayed below $250,000, making Victor Harbor a very affordable option for buyers on a budget. Coupled with the strong rental return of 6.7%, investors may be quite interested in this area.
Victor Harbor is very popular during the holidays, with many high school graduates from all over the state coming here for year-end celebrations. Agriculture and fishery are the top industries here – given the proximity to the water, Victor Harbor is known for whale spotting.