Holy moly!
We’ve got to admit – we don’t mind spending our Friday night’s scrolling through realestate.com.au with a glass of wine imagining all the investment properties we could buy if we didn’t spend all our money on food and Kmart homewares.
However, we’re seriously thinking of investing after finding out just how much the property value has increased in this suburb.
In Australia, the average yearly growth in housing prices is usually around 1.2% per year. However, in one Aussie suburb house prices have skyrocketed by 42.1% in just 12 months!
According to CoreLogic, the median house prices in Glenelg South in Adelaide have skyrocketed by 42.1% or $568,000! The data shows that in 2017 the average house price sat at around $782,000, while in 2018 it sits at $1.35 million.
In the rest of the city, the market growth is around 1.7% with the average house costing $461,000.
We’re sure that anyone with an investment property in this area is cracking open the champagne right about now.
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Words by Kate Stevens
Image: Unsplash
