Homeowners and real estate investors betting on GLENELG EAST, 5045 can rest assured about this SA suburb's performance. The suburb saw median home prices rise by 16%.
A steady increase in median property prices over a five-year period in the suburb translates to a 40.89% capital gain.
Property investors in GLENELG EAST enjoyed capital gains of 16% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $1,740,000.
Profits due to an upward trend in home prices there averaged 13.63% per annum over a 3-year period.
Home owners selling their properties and realtors in GLENELG EAST usually have to wait an average of 71.9 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $600 mark, reflecting a 1.79% increase in returns based on the current median price in GLENELG EAST.
GLENELG EAST, 5045 places 115th in Australia based on median property value growth during the quarter.
Property investors in GLENELG EAST enjoyed capital gains of 3.88% over the last 12 months translating to lower returns compared with its peers in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in GLENELG EAST are low, as opposed to average gains per annum over the past five years.
GLENELG EAST posted a 24.07% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
Real estate investors could earn a rental income of $520 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $520 mark, reflecting a 4.04% increase in returns based on the current median price in GLENELG EAST.
GLENELG EAST, 5045 ranks 105th in SA in terms of median property value increase and capital gains, based on year-to-date figures.
GLENELG EAST ranks 104th on the list of best yielding suburbs for rental properties in SA, posting a 4.04% return.