Houses are still affordable in South Australia – see where you could save enough for a deposit in 2½ years

There are still suburbs in South Australia that have affordable houses for first home buyers. See where you can get your foot in the door.

A new report has revealed the 10 most affordable and promising South Australian suburbs and towns for first homebuyers.

The Bright Starters report by Canstar and Hotspotting shows buyers could save up enough deposit within 2½ years to buy in a desirable SA location while still leaving enough room in the budget to accommodate future interest rate rises and higher loan repayments.

Rather than simply looking at the state’s most affordable suburbs, the report also considers where buyers can get value for money and access to great amenities and improving infrastructure.

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The 10 SA suburbs identified include Brahma Lodge, which has a median price of $335,000.

Hopeful homeowners looking to buy into the northern suburb on a 10 per cent deposit will need to save for about five years to pay the initial outlay of $49,655. Dual income buyers will need to save for 2½ years.

The suburb’s proximity to big employment zones, the defence base, train line and TAFE campus were among the reasons to buy here.

First home buyers can still get into the housing market.

Down south, Christies Beach – with a median of $420,000 – was highlighted as a good option for first-time buyers.

Single earners saving for a 10 per cent deposit – an initial outlay of $63,121 – would need to penny pinch for six years and four months, while those getting in on a 20 per cent deposit would need to save for almost 11 years.

Its highlights were proximity to the beach, Noarlunga Centre, train station and green spaces.

Elizabeth East, Huntfield Heights, Ingle Farm, Morphett Vale, Paralowie, Salisbury, Seaford Meadows and Taperoo also made the list, while Berri, Port Augusta, Whyalla Norrie and Whyalla Stuart were identified as regional hot spots.

Canstar editor-at-large Effie Zahos said home ownership was within reach of many, and said the report highlighted some of the fantastic suburbs South Australia has to offer.

“The reality is, when you filter down to entry-level properties and take advantage of stamp-duty perks available to first home buyers, you begin to realise that buying your first home is actually quite achievable – even more so if you combine your saving and borrowing power with someone else,” Ms Zahos said.

According to the report, singles looking to buy a home at SA metro’s $428,000 median would need to save for 6½ years to save enough to cover a 10 per cent deposit plus stamp duty, or 11 years and five months for those looking to buy at a 20 per cent deposit.

Hotspotting director Terry Ryder said the biggest mistake first homebuyers could make was thinking their prospects of getting into the market were “hopeless”.

“The reality is that unless you have rich parents, you’ll probably also have to accept that your first home is not going to be your dream home,” he said. “You may need to make some sacrifices and compromise.”