Adelaide’s premium suburbs with affordable pockets revealed

1 week ago 7

Affordable pockets in some of Adelaide’s premium suburbs have been revealed.

Househunters fearing they have been priced out of their dream Adelaide suburb are in luck, with new data revealing the premium areas with cheaper pockets.

The PropTrack figures identify the suburbs with the largest difference between median house values by SA1 regions, which are smaller areas within a suburb comprising a few streets, in the year to April.

Glenelg North topped the list for SA, with a $2.709m gap between the median value of the coastal suburb’s most expensive and cheapest pockets.

Somerton Park followed, with a $1.711m variance, then Prospect ($1.401m), West Lakes ($1.245m) and North Adelaide ($1.237m).

The Glenelg North house at 27 Adelphi Tce is on the market with a $1.4m to $1.45m price guide.

The Glenelg North house at 1/8 Burden St sold for $875,000 earlier this month.

Belle Property Glenelg/Henley Beach principal Rhys Digance said property values in Glenelg North had skyrocketed in recent years but there were still some more affordable options for those keen to get into the beachside area.

“The days of bargains are probably gone, I think from a housing point of view it’s beyond that point,” he said.

“But we’ve got a real variety in the area.

“There’s definitely still opportunity for families willing to take on some work.”

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Mr Digance said the price of a home in the suburb was determined by its location and position.

Those on the eastern side of Tapleys Hill Rd were generally older and on larger blocks whereas those on the western side were newer, he said.

“If you’re looking on the eastern side, you’re more likely a young family that wants some space,” he said.

“If you’re looking on the western side, you’re probably a little bit more mature and established, and potentially looking more at the property than the land.”

LJ Hooker West Lakes/Henley Beach agent Rosemary Auricchio said it was a similar story in West Lakes, which was going through a period of rejuvenation.

The West Lakes house at 16a St Andrews Way sold for $2.02m in September last year.

The West Lakes townhouse at 25 Banksia St sold for $937,500 in January.

She said the suburb had a range of older homes on large blocks as well newer ones that had been built or extensively renovated more recently.

“It’s a suburb that caters for a wide range of the market – and it will always be open to a broad range of buyers,” she said.

While some properties were fetching multimillion-dollar prices, Ms Auricchio said there were still good opportunities to buy at a more affordable price in West Lakes.

Entry-level townhouses and apartments were also becoming more prominent in the area, she said.

“If someone is looking to still get a brand new or modern apartment, the West development has opened up a new market,” Ms Auricchio said.

It was ultimately the suburb’s position that made it attractive to first-home buyers, downsizers and those looking to upsize their family homes, she said, and it always would.

“In terms of location, it offers that combination of having the lake yet you’ve got the beach very close by too,” Ms Auricchio said.

“Not many suburbs have both – vary rarely do you get both very close together.

“It’s very much a lifestyle location.”