The best value for money suburbs have been revealed in Adelaide. Picture: Supplied.
Adelaide’s best-value property markets have been revealed, with homebuyers still able to score great deals north of the city.
As the median house price across metropolitan Adelaide hovers above $1m, new research from property group PRD names Blair Athol, Valley View and Northfield as standouts in the local real estate market.
In Blair Athol, the median house price is a relatively low $815,000, despite the suburb’s value growing 14.3 per cent in the past year.
Valley View’s median house price is $831,000 (up 10.1 per cent on last year), while Northfield sits at $878,000 (up 16 per cent).
Those looking to secure a unit, meanwhile, would do well to look at Brooklyn Park (median $430,000), Windsor Gardens (median $560,000) or even the city (median $535,000), according to the research.
PRD Real Estate chief economist Dr Diaswati Mardiasmo. Picture: Supplied.
PRD chief economist Diaswati Mardiasmo said while cheaper buys could still be had in other suburbs, the research had uncovered the best locations for value for money.
“They do have a median price that is lower than the (greater) Adelaide median but what they also have is the liveability aspects,’’ Dr Mardiasmo said.
“They have amenities (such as) shopping centres and medical facilities that are within 5km, public transport that is within 5km and green space and parks.
“They have a low crime rate and, if you are an investor, they have a high rental yield and a low (rental) vacancy rate.
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“They’re not the (absolute) cheapest – we know there are other (suburbs) that are cheaper but (those cheaper postcodes) don’t have any new (housing) stock coming in at all or the crime rate is relatively high or the rental yield is relatively low.
“These (locations identified in the research) are good suburbs to start with (when considering property purchases). They tick all the boxes and still have that affordability.’’
Real Estate Institute of SA (REISA) chief executive officer Andrea Heading said the suburbs listed in PRD’s research “made perfect sense’’, being reasonably close to the city, boasting good amenities and reasonable numbers of dwellings coming to market.
REISA chief executive Andrea Heading. Picture: Supplied.
“Definitely, Adelaide (city, being a good value suburb for units) doesn’t surprise me at all because that’s become a lot more affordable, there’s lots of stock around and it’s also good for investors because of the proximity to Adelaide Uni,’’ Ms Heading said.
She said properties at Bowden, Cheltenham and Gawler should also be on buyer radars, encouraging househunters to look not just at price but also the proximity to good schools, health facilities and public transport.
“Another thing, depending on your life stage, is what do (dwellings in) these suburbs look like?’’ Ms Heading said.
“Are they mostly single storey or are you going to be trying to navigate stairs (in a multi- level home) if you still want to be living there in 20 years’ time?’’
– by Lauren Ahwan
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