If you want to settle down in a convenient suburb with a friendly neighborhood that is perfect for the whole family, then buying a real estate in Prospect in South Australia is a must. Its founders dubbed it “a beautiful prospect”, and even today, it has never changed. Although Prospect is what others may call a late bloomer in the development area (improvement in development did not really hit its best stride until the better half of the 1800s, later than other areas), it has certainly since then become a better version of its old self, priding itself nowadays in its beautiful residential housing options and a steadily blooming local economy through various businesses, big and small. Today, the prospects in Prospect real estate has never been better.
Real Estate in Prospect: By the Numbers
This suburb has a family-leaning residential identity, with the top three residents belonging to Established Families with 19.7%, Mature Couples and Families with 15.8%, and Independent Youth rounding up the top list with 14.4%. A proud family area through and through.
There are many beautiful Prospect homes for sale today, and an average property has a median house price of $695,000. For a 2-bedroom house, the cost is usually at least $553,000. A bigger 3-bedroom house is currently at $650,000, and the much more spacious 4-bedroom house is available somewhere upwards of $916,000. The current $695,000 median house price was based on last year’s 180 home sales. Compared to data of five years ago, it has increased by 32%, equating to a 5.7% compound annual growth rate.
House rent is at $410 per week, with the 2-bedroom costing $360 per week, and the 3-bedroom and the 4-bedroom priced averagely at $420 and $460 respectively. Separate units are currently priced at $354,000, with an average rent of a much more affordable $300 per week.
Currently, Prospect enjoys a comfortable high demand in the market, with an average of 818 visits per property, which is higher than the South Australian state average of 777.
(Data from Realestate.com.au)
Why Choose Prospect Real Estate
Prospect has shed its bargain basement identity and has transitioned into a quiet family residential area just a couple of kilometers from the city. When you are not shopping in its quirky little shops or hopping cafes, you can find yourself jogging in the amazing open grass of Soldier’s Memorial Gardens ,Prospect’s largest park. St. Helen’s Park is also a popular choice, along with Baker Garden. Prospect also has notable schools like Rosary School, Blackfriars Priory School, and Prescott College.
Although many residents here own cars, buses are also available here, aside from the passenger train stations in its western edge.
Looking for houses for sale in Prospect has always been fun. Stoned-fronted Victorian villas await you in the suburb’s leafy streets, as well as a number of gorgeous low-hipped California-style bungalows and the classy 20s-styled Spanish Mission abodes. Contemporary units and houses are also found here and there, for couples without kids around.
A quiet, family neighborhood with green parks and complete with an entertainment edge and a well-planned transport system just a quick drive from the city, what more can one ask for? Look out for the rise of prospects in Prospect!
Other Popular Suburbs in South Australia
Other States in Australia
Other locations in Australia are equally as desirable as South Australia. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
Do you need help in finding the right property? Contact us and we'll assist you with your investment needs.