West Lakes, SA 5021: Suburb Profile & Property Report

Market Report

House report
Unit Report

West Lakes has 73 houses available for sale. The median property price for a house is currently $1,200,000 with annual capital growth of 25.33% . There were 87 house sales in the past 12 months. On average, houses spend 48 days on market.

If you're thinking about buying an investment property in West Lakes, consider that rental yields for houses are currently 3.19% with an average median rent of $690 weekly. Houses have seen 4.35% growth in the past quarter, and 25.33% growth in the past 12 months.

The size of West Lakes is approximately 4.4 square kilometres. It has 32 parks covering nearly 18.1% of total area. The population of West Lakes in 2011 was 5,728 people. By 2016 the population was 5,781 showing a population growth of 0.9% in the area during that time. The predominant age group in West Lakes is 60-69 years.

Households in West Lakes are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Lakes work in a professional occupation. In 2011, 75.4% of the homes in West Lakes were owner-occupied compared with 76.5% in 2016.

West Lakes has 53 units available for sale. The median property price for a unit is currently $672,500 with annual capital growth of 25.70% . There were 58 unit sales in the past 12 months. On average, units spend 33 days on market.

If you're thinking about buying an investment property in West Lakes, consider that rental yields for units are currently 4.31% with an average median rent of $555 weekly. Units have seen 13.98% growth in the past quarter, and 25.70% growth in the past 12 months.

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Key Market Data	House	Unit
Median price	$1,200,000	$672,500
Quarterly growth	+4.35%	+13.98%
12-month growth	+25.33%	+25.70%
Average annual growth	+9.44%	+6.60%
Weekly median rent	$690	$555
Gross rental yield	3.19%	4.31%
Number of Sales (12m)	87	58
Avg. Days on Market (12m)	48	33

Jump to Market Trends

Key Demographics	2011	2016
Total population	5,728	5,781
Population change (5y)	-1.34%	+0.90%
Median household income (p/w)	$1,170	$1,309
Household income change (5y)	+5.98%	+11.88%
Median age of persons	52	53

Jump to Demographics Trends

Market Trends

Houses

Units

The Median Sale Price in West Lakes is $1,200,000 for houses and $672,500 for units.

The Median Growth in West Lakes over the past 12 months is 25.33% for houses and 25.70% for units.

Over the past 12 months there were 87 houses sold and 58 units sold in West Lakes. On average, houses spent 48 days on market and units spent 33 days on market.

In the past 12 months up to August 2024 there were 87 houses sold and 58 units sold in West Lakes. On average, houses spent 48 days on market and units spent 33 days on market.

1 Year 5 Years 10 Years

Houses

Units

The Median Rent in West Lakes is $690 for houses and $555 for units.

The Rental Yield in West Lakes is 3.19% for houses and 4.31% for units.

1 Year 5 Years 10 Years

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Demographic Trends

Better understand demographic trends by reviewing the latest suburb demographic data below.

Age groups Country of Birth Religious Affiliation Household Income Occupations Education Level Qualification Level

The population of West Lakes was 5,781 in 2016, a +0.90% change compared to 2011.

The predominant age group in West Lakes is 60-69 years.

The population of West Lakes was 5,781 in 2016, a +0.90% change compared to 2011.

The predominant age group in West Lakes is 60-69 years.

Most of the population in West Lakes were born in Australia.

Most of the population in West Lakes report their religion as Catholic.

Most of the population in West Lakes report their income range as between $78,000 and $130,000 .

The median household income in West Lakes was $1,309 in 2016, a +11.88% change compared to 2011.

Most of the population in West Lakes report their income range as between $31,000 and $52,000 .

The median household income in West Lakes was $1,170 in 2011, a +5.98% change compared to 2006.

Most of the population in West Lakes work as Professional.

The chart below demonstrates the various levels of education in West Lakes.

Most of the population in West Lakes reached a qualification level of Certificate.

2011 2016

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