West Beach

POSTAL CODE: SA, 5024

HOUSE

UNIT

WEST BEACH, 5024 ranks 2077th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 8.85% for property investors.

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,513,000.

The upward trend in home prices in WEST BEACH, 5024 averaged 12.52% per annum over a 3-year period.

Average weekly rents on listings have reached the $695 mark, reflecting a 2.39% increase in returns based on the current median price in WEST BEACH.

An average of 5.5 real estate transactions take place per month in WEST BEACH which translates to 66 per annum.

66 properties were sold in WEST BEACH in 2016, making it the 61st most active market in SA based on total real estate transactions.

WEST BEACH, 5024 places 105th in Australia based on median property value growth during the quarter.

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $638,700.

Average median unit prices in SA have risen as a whole, pulling WEST BEACH, 5024 values up and netting property investors a capital gain of 29.23% for the past year.

Investors saw the median home price rise to $638,700.

The upward trend in home prices in WEST BEACH, 5024 averaged 21.61% per annum over a 3-year period.

WEST BEACH now ranks at the 11th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in WEST BEACH are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of $500 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In WEST BEACH, homes and units usually stay on listing for an average of 36.4 days.

23 properties were sold in WEST BEACH in 2016, making it the 64th most active market in SA based on total real estate transactions.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,513,000	$638,700
Growth Report
Median Quarterly	5.8%	14.72%
Median 12 month	8.85%	29.23%
Median 3 years	37.55%	64.83%
Median 5 years	68.11%	120.24%
10 years average annual	7.38%	8.5%
Weekly media advert. rent	$695	$500
Time on Market	53.7 days	36.4 days
Gross Rental Yield Percent	2.39%	4.07%

Demographics (Median Values)*

Total Population 13846

Weekly Household Income 1345

Household Size 2.40

Average Age 45

Monthly Loan Repayment 1800

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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