Giving property investors a a poor capital gain of -8.70% for the last year, Edithburgh, 5583 is the 3444th highest performer in Australia in this respect.
Comparing Edithburgh,5583 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
The SA suburb of Edithburgh, 5583 is in the Yorke Peninsula (DC) local government area.
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Edithburgh is another town which promises a ‘getting away from it all’ vibe, but has an industrial past: in the first half of the twentieth century, it used to be a major salt, gypsum and lime port. It's now better known for its leisure fishing, tidal swimming pool, the Wattle Point wind farm and the penguin colony on nearby Toubridge Island.
It's a popular retirement and sea change destination, rather than a holiday town. Around two-thirds of the population are over 50 – which has driven the majority of capital growth, especially in the years leading up to the GFC. Capital growth in 2006 and 2007 was well over 20% pa, according to RP Data. Also like Point Turton, capital growth has levelled off since the GFC, with median prices remaining level at around $290,000.
Even though prices have remained stable since the GFC – probably due to sea changers and retirees putting off the move to the coast - Peter Koulizos reckons that Edithburgh will continue to be a strong performer.
“Unlike the holiday home market, the sea changer market is slightly less prone to suffering from market shocks. I think it'll recover from its current lull and continue along a path of sustainable growth.”