Adelaide’s northern suburbs continue to be the state’s biggest performers for house price growth over the past year, but new data shows there are some rising stars that are well worth keeping an eye on.
PropTrack’s latest quarterly value data reveals the northern suburbs again dominated the top 20 with 14 of the identified locations situated in the northern suburbs.
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The further flung coastal locale of Fisherman Bay notched up the greatest 12-month change in home value, with the town’s median house price jumping 31.l2 per cent from $73,976 to $97,079.
It was followed by units in both Salisbury North, which jumped 24.5 per cent over the year and Murray Bridge where their values have climbed 24.2 per cent.
Houses in Elizabeth North and Elizabeth Downs rounded out the top five.
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Mike Lao, Director/Sales, Edge Realty.
Edge Realty principal Mike Lao, who has sold 231 properties in the northern suburbs in the past year, said even though home prices continued to rise, buyers still saw value in the area.
“There has been a huge increase in the number and quality of there amenities in the northern suburbs in recent years and buyers are seeing at as the perfect place to position themselves for the future,” he said.
“Sure, it isn’t as affordable as it used to be, but the area is improving and the lifestyle here is incredible, and you get that at a price you couldn’t closer to the city.”
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However, while the north shone for 12 month growth, when it comes to the top suburbs for quarterly value growth, it was a mixed bag.
Mount Gambier units in the state’s south east, experienced the greatest jump in quarterly values – up 13.5 per cent from $320,061 to $381,939.
Units in Hillier, Ashford, Murray Bridge, Myrtle Bank and Gilberton, and houses in Port Macdonnel, Moonta, Milang and Gilberton rounded out the top 10.
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Of the 554 suburbs and towns PropTrack had house or unit data for, every single one experienced value growth over the past 12 months, even if Prospect units were up by just 0.3 per cent. Prices were down in 70 over the past three months.
City of West Torrens business leader of strategic projects Mason Willis bought his home in Seaford Rise – where values have increased by 1.6 per cent for the quarter and 14 per cent for the year – in 2013 and said he was thrilled to have seen solid increase in its value in that time.
Mason Willis and his wife Bianca, with their children, Zahlia and Archer at their home in Seaford SA. Picture: Ben Clark
“It’s nice to know values have gone up in that time, and I didn’t think they would increase so quickly, if I’m honest – we’ve been very fortunate,” Mr Willis said.
“I’m hoping that by the time my children are looking to buy down the track there might have been a balancing in the market.”
Mr Willis’s parents are currently visiting from the UK, with Mr Willis’s father saying the recent price growth seen across Adelaide mirrored the market take-off back home.
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