These are the top 10 affordable suburbs in South Australia
PR Newswire
Broadbeach Waters, Qld., Sep. 6, 2021 /Medianet/ --
These are the top 10 affordable suburbs in South Australia
However, there are still irresistible pockets of affordable houses that are around 70 per cent of the median price for the capital city, according to Pete Wargent, co-founder of BuyersBuyers.com.au.
“With first homebuyers still active, and now competing with investors for a low level of stock on the market, we expect affordable suburbs to be sharply in focus going into 2022” Mr Wargent said.
RiskWise Property Research has undertaken an in-depth analysis into the housing market identifying the top 10 affordable suburbs in South Australia.
The analysis clearly showed that detached houses represented solid buying opportunities for those with long-term strategies.
Mr Wargent of BuyersBuyers said “prices have often increased strongly in Adelaide over the past year but there are still areas where bargains can be had and if you have a long-term strategy you can expect solid capital growth over the next few years”.
“There are many opportunities for buyers looking for houses with high land value as a proportion of the property, and a strong component of scarcity, especially if they intended to hold on to the property for several years or longer”.
“In addition, the current ultra-low interest rates have created a unique environment where buying a house in many areas has been cheaper than paying rent on one” Mr Wargent said.
The top 10 suburbs for affordable houses in South Australia included a range of suburbs at around 70 per cent of the median capital city house price for the state.
Figure 1 – The top 10 affordable suburbs for houses in South Australia
Mr Wargent of BuyersBuyers said that more affordable areas have been sharply in focus as the number of first homebuyers in the market had recently surged to decade highs.
In South Australia, Adelaide North had the highest number of affordable houses.
Median prices for suburbs in the region tend to sit comfortably between
$400,000 and $500,000, as compared to nearly $550,000 for Greater Adelaide.
Mr Wargent of BuyersBuyers.com.au said that the Adelaide Hills region has been a drawcard to homebuyers seeking lifestyle and as more people can work remotely is gaining even more of a reputation as having good buying potential.
Price growth in the region has been solid rather than spectacular over the past 5 years, at around 20 per cent capital growth.
However, Mr Wargent stressed while there are still excellent opportunities for houses in Adelaide and its immediate surrounds, units continued to carry a materially high level of risk, on average.
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Please Note: This list is based on suburbs that are around 70% of the median price and suburbs with at least 1,000 houses in the existing stock. It should be noted that the lower end of the market presents different types of risks.
ENDS
For all media enquiries, contact BuyersBuyers.com.au Media Manager Alison Sollory, alison.sollory@buyersbuyers.com.au
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