It’s long been South Australia’s cheapest beachside suburb but after breaking property records twice already this year, experts say O’Sullivan Beach is a star on the rise, with predictions house prices will soon near the $2m-mark.
The house price benchmark currently sits at $1.522m, following the recent sale of a two-storey family home with a pool and breathtaking ocean views at 7 Hill St.
That price surpasses the previous record of $1.515m, set just two months ago, with the sale of 1/3 Tingira Drive, a contemporary dual-level home that also has panoramic water views.
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The O’Sullivan Beach house at 7 Hill St recently sold for $1.522m.
It now holds the record for the suburb’s most expensive house.
It has panoramic views of the ocean.
Ray White Seaford selling agent Denzil Cheesley, who sold the Tingira Drive property, said O’Sullivan Beach was finally shedding its industrial reputation to be recognised as a highly desirable residential location that represented comparatively good value for money.
Mr Cheesley said property records would continue to fall in the southern suburb over the coming year and expected house prices would nudge $2m.
“O’Sullivan Beach has fallen under the radar for a long time, maybe because the beach isn’t as glorious as some of our (other) southern beaches and maybe (due to) the proximity to what used to be an oil refinery and then a desal (desalination) plant but it’s definitely changing,’’ he said.
“That (current property record) will be broken in the next 12 months – there will be more properties along the (beach)front that will sell and there will be more eyes (buyers looking) in that area.
“That $2m price is now a given for coastal properties along Hallett Cove and Christies Beach and Port Noarlunga.
“O’Sullivan Beach will be nudging that figure pretty soon, with the right property.’’
The Port Stanvac oil refinery closed in 2003 while the Adelaide Desalination Plant started operating in 2012. Both are on the boundary of O’Sullivan Beach.
Both controversial at times, Mr Cheesley said younger home buyers did not hold the negative memories of previous generations and were encouraged to move to the area by new land releases.
He said the only significant barrier to O’Sullivan Beach homes reaching the lofty prices of neighbouring coastal suburbs was its lack of an esplanade.
“It’s not like Christies Beach or Port Willunga, where literally you cross the street (from the house) and you’re on the sand,” he said.
The house at 1/3 Tingira Drive sold for $1.515m in March.
The sale briefly set the bar for O’Sullivan Beach, until the property on Hill St was snapped up.
It has equally as impressive ocean views.
“There’s a buffer there, where (housing) is set away from the beach, across from a reserve.
“O’Sullivan Beach is still sitting on the coat tails of those suburbs that way but there’s definitely still plenty of appeal and for people that are looking for high-end coastal properties that you can snap up for a comparative bargain, it’s the ideal suburb.’’
Magain Real Estate agent Robbie Leigh, who sold 7 Hill Street in conjunction with Levi Sakkas, said the competitive property market had “priced out’’ home buyers in preferred locations such as Christies Beach, forcing them to look to O’Sullivan Beach.
“That being said, O’Sullivan Beach has perhaps been a hidden gem of a suburb,’’ Mr Leigh said.
He said the first two sellout land releases at Salt, a 6ha estate earmarked for 114 new homes along Gumeracha Road and Baden Terrace, showed there was strong interest in the suburb, which would be further buoyed by 3600 new dwellings planned for Port Stanvac.
“This all points towards a bright future for the suburb and the resulting property values,’’ Mr Leigh said.
– by Lauren Ahwan
English (US) · 