NEW developments close to schools and shopping centres has sparked a jump in home values in Munno Para, according to local real estate agents. The median house price in Munno Para, which takes in parts of the new Playford Alive estate, increased 41 per cent from $220,000 to $310,000 in the past three years, according to RP Data figures.
The next highest growth suburb was Virginia (11.9 per cent), followed by Blakeview (8.8 per cent).
Ray White Craigmore sales agent Tony Minopoulos said government grants of up to $23,000 for new homes made buying new properties in Munno Para affordable.
“It’s becoming a popular area,” Mr Minopoulos said.
“People are looking for new homes and there’s also a lot of schools and shopping centres nearby.
“It’s become very busy in the northern suburbs.”
Mr Minopoulos sold about 15 to 20 properties a year in and around Munno Para and said first homeowners and developers were investing heavily in the area.
He said many were getting in early knowing there were plans for a shopping and recreational precinct on Curtis Rd, and new schools within walking distance.
First homeowner Mohamed Bah, 34, bought a new four-bedroom house in Playford Alive in May.
He said he was attracted to Munno Para because the homes were reasonably priced and close to everything he and his family needed.
“The (planned) shopping centre was a real drawcard,” Mr Bah said.
“The sooner it is finished the better. Right now we drive to Munno Para (Shopping Centre) or Blakeview to do our shopping but when we have the shopping centre in the village we’ll be able to walk there.”
He said having new playgrounds and Mark Oliphant and John Hartley schools within walking distance was also a big selling point.
Elders Smithfield sales agent John McMillan sold about 30 homes in the Munno Para area in the past year and said people wanted a reasonably priced, low-maintenance home with easy access to shops and schools.
“There’s no shortage of buyers,” Mr McMillan said.
“We have interest from both investors and young first home buyers looking to start families.
“Being close to schools is important for them.”
He said interest in the area would grow on the back of the Playford Alive shopping hub, which will start construction next year.