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Myrtle Bank

POSTAL CODE: SA, 5064
HOUSE

Property investors enjoyed capital gains of 4.94% over the last 12 months in MYRTLE BANK, translating to lower returns compared with its peers in SA.

A survey of average capital gains or median home price increase in suburbs across the country shows that the SA suburb obtained a 8.16% growth over a ten-year period. It ranks 1090th on our list of suburbs that property investors should look into.

MYRTLE BANK, 5064 has a capital gain of 4.94% for the past year, which is lower than average compared to its 72.15% growth within a five-year period.

With the median home price in MYRTLE BANK sitting at $1,700,000, and the average rent at $850, property owners could potentially earn a 2.6% increase in gross rental yield.

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

MYRTLE BANK, 5064 in SA belongs to the local government area of Unley.

Surburb overview

Myrtle Bank is an inner southeastern suburb situated approximately 6 kilometres from Adelaide’s central business district. It is part of the City of Unley and is known for its well-preserved heritage homes, and close proximity to both the city and the scenic Adelaide foothills. Myrtle Bank has a population of around 3,000 people. The area's peaceful, green environment and well-maintained properties make it a highly desirable location for those seeking a balanced lifestyle near the city.

Public transportation in Myrtle Bank is excellent, with several bus routes servicing the area and connecting residents to Adelaide’s CBD and surrounding suburbs. The suburb is also conveniently located near major roads such as Fullarton Road and Cross Road, providing easy access for those commuting by car. Myrtle Bank’s close proximity to the city, combined with its quiet streets, makes it a prime location for those working in the city but preferring a more suburban lifestyle.

Myrtle Bank is close to a range of essential amenities, including shopping centres, supermarkets, and dining options. The nearby Mitcham Shopping Centre and Burnside Village provide a variety of retail stores, supermarkets, and cafés, ensuring residents have access to everything they need. The suburb is also within easy reach of Unley Road, known for its boutique shops, restaurants, and services.

Recreational opportunities are abundant in and around Myrtle Bank, with several parks and green spaces available for outdoor activities. The Waite Arboretum, located nearby, offers walking trails through an extensive collection of trees and native plants, providing a serene spot for nature lovers. Ridge Park, a popular recreational space within Myrtle Bank, features open spaces for picnics, playgrounds, and walking paths, making it an ideal spot for families and those seeking outdoor relaxation.

For families, Myrtle Bank offers access to several well-regarded schools in the surrounding areas. Nearby educational institutions include Highgate Primary School, Unley High School, and private schools such as Concordia College and Scotch College. These schools make the suburb an appealing choice for families with school-aged children.

Healthcare services are readily available, with several medical clinics, specialists, and pharmacies located nearby. Larger healthcare facilities, including the Ashford Hospital and Flinders Medical Centre, are within easy reach, providing residents with access to high-quality medical care.

Myrtle Bank’s appeal lies in its combination of suburban tranquillity and proximity to Adelaide’s CBD. Its tree-lined streets, heritage homes, and access to quality schools, parks, and shopping centres make it an ideal suburb for those seeking a relaxed lifestyle within minutes of the city. The suburb’s strong sense of community, peaceful environment, and excellent amenities ensure that it remains one of Adelaide’s most sought-after residential areas.

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