West Beach

POSTAL CODE: SA, 5024

HOUSE

UNIT

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 $1,480,000.

The upward trend in home prices in WEST BEACH, 5024 averaged 10.91% per annum over a 3-year period.

Average weekly rents on listings have reached the $760 mark, reflecting a 2.67% increase in returns based on the current median price in WEST BEACH.

An average of 5.58 real estate transactions take place per month in WEST BEACH which translates to 67 per annum.

67 properties were sold in WEST BEACH in 2016, making it the 56th most active market in SA based on total real estate transactions.

WEST BEACH, 5024 places 238th 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 $655,500.

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 32.42% for the past year.

Investors saw the median home price rise to $655,500.

The upward trend in home prices in WEST BEACH, 5024 averaged 23.42% per annum over a 3-year period.

WEST BEACH now ranks at the 3rd 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 32.6 days.

26 properties were sold in WEST BEACH in 2016, making it the 59th 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	$1,480,000	$655,500
Growth Report
Median Quarterly	2.78%	17.21%
Median 12 month	0%	32.42%
Median 3 years	32.74%	70.26%
Median 5 years	64.44%	126.03%
10 years average annual	7.42%	8.46%
Weekly media advert. rent	$760	$500
Time on Market	53.5 days	32.6 days
Gross Rental Yield Percent	2.67%	3.97%

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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