$3m-plus suburbs double during the pandemic as allure of luxury property grows
With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...
KENSINGTON PARK, 5068 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 $945,000.
Profits due to an downward trend in home prices in the suburb averaged -1.05% per annum over a 3-year period.
KENSINGTON PARK now ranks at the 71st 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 KENSINGTON PARK are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $540 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In KENSINGTON PARK, homes and units usually stay on listing for an average of 72.8 days.
In 2016, 27 properties were sold in KENSINGTON PARK during the past year, making it the 250th most active market in SA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $945,000 | $382,000 |
| GROWTH REPORT | ||
| Median Quarterly | 6.03% | N/A |
| Median 12 month | -0.24% | 0.53% |
| Median 3 years | -3.15% | -9.8% |
| Median 5 years | 11.83% | 2.55% |
| 10 years average annual | 3.25% | 0.51% |
| Weekly media advert. rent | $540 | $325 |
| Time on Market | 72.8 days | 0.0 days |
| Gross Rental Yield Percent | 2.97% | 4.42% |
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