Listed: SA suburbs and towns where house prices peaked during the pandemic

Despite disruptions caused by Covid-19, more than 250 suburbs and towns in South Australia have experienced consistent price growth over the past two years. Find out if your suburb is on the list.

At a time when the pandemic has disrupted life across the country, the property market in South Australia has experienced consistent growth over the past two years.

According to latest data from realestate.com.au, the median value of homes in more than 250 suburbs and towns across the state recorded an increase in price during the peak of Covid-19, with a dozen suburbs recording more than 50 per cent price growth.

The data took into account median prices from March 31, 2020, to February this year.

Homes in Beaumont made the most money, with the suburb’s median value increasing by $600,000, from $900,000 to $1.5m, representing a value growth of 67 per cent.

Goodwood homes were not too far behind. Its median price went up by $520,000, from $800,000 recorded two years ago. With the median house price sitting at $1.32m, Goodwood has joined SA’s million-dollar suburb club.

Wattle Park and Linden Park have also all experienced gains of more than 55 per cent.

With SA experiencing fewer lockdowns than other capital cities, it’s been two busy years for househunters, with many targeting coastal areas.

The beachside suburbs of Seaford, Seacliff Park and Sellicks Beach have all recorded a more than 50 per cent increase in median house value, according to the data.

REA group economic research manager Cameron Kusher said the rate of growth during the two years of the pandemic had been in excess of what a normal growth cycle would look like.

“It’s very abnormal for all capital cities and regional areas to grow rapidly at one point in time, and I think that speaks to the fact that interest rates were cut so low, and people just couldn’t spend on anything else,” he said.

“So, they decided to spend on property and move into a nicer home or renovate their home, and that added a lot of value to the property.

“Affordability is essentially the thing that’s driven the house price surge in SA. The market right across the state hasn’t seen a lot of price growth over the past few years.”

Goodwood resident Sue Gilbert has listed her character home, 41 Lily Street on the market. Picture Emma Brasier.

Having lived in her Goodwood home for more than 30 years, Sue Gilbert decided it was a good time to list her bluestone character home on Lily St on the market.

“I have been looking to downsize and move to a smaller property. The suburb has seen a lot of interest during the last year or so and it’s a good time to sell,” she said.

Belle Property Unley’s Thomas Krajnc said it was no surprise to see suburbs such as Goodwood so high up on the list of suburbs that have continued to do well during the pandemic.

“While inner-city suburbs have always reported consistent price growth, suburbs like Goodwood are hidden gems,” he said.

“The property market in SA is still booming and while the rate of growth might slow down a bit, we will see prices continue to rise in the coming months.”

(with inputs from Tim McIntyre)