The best Adelaide suburbs for property sales and rent in 2015
December 18, 2015 12:00amTOM BOWDENREAL ESTATE EDITORThe Advertiser
- Inside SA’s most-clicked on houses
- South Australia’s Top 100 homes
- Million-dollar views — with a catch
- The most expensive homes in Australia
LOOKING to find Adelaide’s real estate hot spots or on the hunt for some investment advice?
Well, you’re in luck.
CoreLogic RP Data today releases its annual Best of the Best report, highlighting Adelaide’s top performing suburbs across 10 categories.
The report, which looks at home values for suburbs with at least five sales in the 12 months to September 2015 shows Adelaide’s east was home to the state’s most valuable suburbs.
Unley Park had the highest median house value for the year at $1,647,257, ahead of Springfield at more than $1.61 million.
Adelaide’s most expensive rentals were found in Rose Park, where the median weekly rent was $850, and Unley Park, where rent was $665 per week.
When it comes to affordability, the northern suburbs rule, offering cheap housing, low-priced rentals and strong rent returns.
38 Grove Street, Unley Park.Elizabeth North was the state’s most affordable suburb, with a median home value of $172,484 from 47 house sales.
It also delivered the state’s strongest house rental yield of 7.1 per cent, just below Davoren Park units which delivered returns of 7.8 per cent.
Wingfield, in the Port Adelaide Enfield council area, was named the most affordable suburb within 10km of the city, delivering a median value of $262,528 from its 11 sales.
Real Estate Institute of South Australia chief executive Greg Troughton said Wingfield had experienced some infill in recent years.
The year in property for SA.“There wouldn’t be a whole lot of houses in Wingfield ... and I think as time goes by, as it’s in that 10km circle of the city, that commercial and industrial character will be removed and residential sales will rise significantly,” Mr Troughton said.
In terms of value growth, Dry Creek homes showed the highest increase in median value over the past 12 months, up 26.5% to a median of $310,400, while Kidman Park houses showed the best long-term growth, up 77.7 per cent over the past five years.
“I’m aware of a number of properties out around Dry Creek that have a commercial and industrial component but also with a residential element, so it’s combined living,” Mr Troughton said.
38 Grove Street Unley Park“The convenience of being able to work, live and play on the same parcel of land is very attractive, and more and more people will see the value in this style of property in the coming years.”
CoreLogic RP Data’s Cameron Kusher said combined capital city home values rose 7.8 per cent throughout 2015, with house values up 7.9 per cent and unit values rising 7 per cent.
“As always, there were certain areas across the country that have well and truly outperformed others.”