Modbury

POSTAL CODE: SA, 5092
HOUSE
UNIT

Property investments in MODBURY fare well against the rest of the country last year, registering a median home price increase of 6.07%.

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

Based on its average 5-year and quarterly capital gains MODBURY, 5092 saw average growth in the long term.

Real estate investors could earn a rental income of $610 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 52.8 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $795,000.

MODBURY ranks 110th on the list of best yielding suburbs for rental properties in SA, posting a 3.99% return.

Surburb overview

On Adelaide’s northeastern fringes, Modbury can be found lying at the end of Adelaide’s O-Bahn busway, making it a boon for transport. Aside from this major transport stream, the region also offers the Tea Tree Plaza shopping complex, as well as a hospital.

Described as the gateway to the prestigious Adelaide Hills, and within half an hour of Adelaide’s CBD, the City of Tea Tree Gully has flagged Modbury as one of North-East Adelaide’s major business districts, with strong growth in jobs and low unemployment forecast for years to come.

Separated from the state capital by a brisk half-hour drive, the region offers investors and owner-occupiers a diverse range of dwelling options, including a strong mix of established homes and new developments, which, paired with the lush green spaces, cycling paths, and pristine walking trails that engulf the region, increase the area’s capacity to accommodate new and existing residents.

The region offers investors a relatively cheap entry point into the market, with median home prices in the $600,000 range, while steady rental returns and property price growth have characterised Modbury in recent years.

Moving forward, Modbury has also been identified as a strategic activity centre, with the region’s Interchange noted as a key mass-transit station within metropolitan Adelaide’s 30-year Plan, which also establishes several dwelling construction targets within the city. The Tea Tree Gully Council’s development plan outlines several key areas for development within the region in order to ensure enough housing stock exists to match forecast population growth.

You’re out of free articles for this month
Loading form...