Playford and Salisbury: SA’s top areas to buy property with capital growth prospects

Two council areas in Adelaide’s north have been ranked among Australia’s top five for affordable property with huge capital growth prospects. See where they are.

Craigmore resident Melinda Fremlin has recently listed her five-bedroom home in Perre Drive, and is hoping to get a good price.

Two council areas in Adelaide’s north, Playford and Salisbury, have been identified as among the best in the country for affordable properties with long-term capital growth potential.

The latest report by property trends forecaster Hotspotting has listed Australia’s ‘Top 5 Cheapies with Prospects’.

In Playford, the suburbs of Andrews Farm, Blakeview and Craigmore all recorded more than 230 sales last year and had house price growth of 20-21 per cent.

Median house prices in those suburbs were all below $435,000.

Munno Para recorded a 24 per cent increase in house prices and a median of $390,000.

Hotspotting founder and report author Terry Ryder said the market in Playford had momentum fuelled by a revitalised economy and affordability and that was attracting first-home buyers and investors on a budget.

“The RAAF Base in Edinburgh is the engine room of the local economy and is stoking it further with billions of dollars being spent on technology, equipment and infrastructure,” he said.

“The 2020 opening of the Northern Connector has boosted opportunities for trade and business, in turn leading to economic activity and jobs.

“These projects have added considerable impetus to the area, which already has the state’s strongest population growth and some of the cheapest homes in capital city Australia.

Melinda Fremlin, pictured with her daughter Lauren, is selling her Craigmore home.

Agent Andrew Rose of LJ Hooker Craigmore, Elizabeth and Salisbury said first-time investors were driving up prices in the two council areas.

“Two years ago, where else could you go and buy a freestanding house for $180,000? Those houses are now priced upwards of $320,000,” Mr Rose said.

“It still remains an affordable market and we have seen a lot of first-time investors as well as homeowners looking to downsize their mortgage, especially post the rate rises.”

Buyer demand has more than doubled in the past 18 months in the suburb of Salisbury East, the report says.

Edge Realty principal Mike Lao said the northern suburbs had seen “astronomical price growth” over the last two years.

“I have been selling here for 15 years and the last two years have been exceptional,” he said.

“Interest in properties in Mawson Lakes, Parafield Gardens and Paralowie has gone up a lot as there are bigger blocks available and lots of new homes and developments.

“Along with affordable prices, these areas have also recorded strong yields and extremely low vacancy rates.”

Craigmore resident Melinda Fremlin has recently listed her five-bedroom home in Perre Drive, and is hoping to get a good price.

“Craigmore is still an affordable market to get into,” Ms Fremlin said.

“It’s a lovely family home and we have enjoyed our time here but we are now looking to downsize.”