Real Estate

adelaide suburb records 48 4 per cent annual unit price growth

Written by The ReReport

2/217 Esplanade, Henley Beach is on the market with Ous Property Henley Beach South and will be auctioned on Tuesday, October 30 at 6.30pm.

WHEN it comes to property price growth, the action is well and truly beachside.
That’s according to new CoreLogic data, which shows Henley Beach recorded a 48.4 per cent jump in median unit prices between July, 2017 and June, 2018 – the highest price change recorded for any Adelaide suburb.
With around 44 units sold during the 12 month period, the average beachside unit now transacts for median sale price of $627,500 – $303,710 more than the previous year.
It’s in stark contrast to house prices within the popular suburb, which recorded only a marginal change of 3.8 per cent – up to $850,000.

175 Esplanade, Henley Beach is on the market with Klemich Real Estate. It is listed without a price guide.

National Property Buyers agent, Kate Fuller said the recent spike in unit prices was a direct reflection of the suburb’s recent rejuvenation.
“Prices were up the higher end in December, 2016/January, 2017, with the median unit price being $565,000,” she said.
“This then dropped to $422,500 in April 2017, which may have reflected the quality of stock available and heading into Winter.
“Since then the median unit price has steadily increased to $627,500 in August 2018.
“With facilities surrounding, such as sought after schools, shops, medical, public transport, and obviously all the beach has to offer, going into summer I predict to see this price point hold strong.”


Why Adelaide is Australia’s most underrated property market

Is this Australia’s quirkiest backyard?

Downsizers a driving force in SA’s property market

315/344 Seaview Rd, Henley Beach is on the market with Klemich Real Estate. It has an asking price of $755,000 to $795,000.

And it’s not just buyers taking note.
“Tenants are always quick to jump at quality properties in beachside suburbs, for the exact same reasons as a purchaser,” Ms Fuller said.
“With median advertised rent at $320 per week for units, this is quite an affordable option.
“Given the wide range of types of units available in the suburb, there really is something for everyone.
“Other beachside suburbs that our Buyers Advocates are quite keen to consider are Hove, Brighton, Semaphore and Largs Bay.”

Real Estate Institute of South Australia CEO, Greg Troughton said Henley Beach’s popularity was driven by a mixed group of buyers.
“Members tell me it is both downsizers and empty nesters, as well as the upwardly mobile professional couple,” he said.
“Henley Beach has been consistently growing in reputational stature and landmarks such as Henley square and the surrounds, add to the ambience of the area.
“Those facilities with the low effort unit living really makes it the ideal location.”

Source link