Terry Ryder’s top affordable places to invest in across SA in 2024

If you’re planning on buying an investment property next year, these are the locations you should consider to get more bang for your buck. See the top 10 list.

Adelaide is one of the country’s investment hotspots but there are some suburbs, and even regional SA towns, that are tipped to offer more bang for buck than others.

City units are the most affordable investment properties to maximise return in 2024, according to property analyst and Hotspotting founder Terry Ryder.

The property guru has trawled the state to determine the best cheap areas to invest in next year that have potential for strong gains.

City units could be a worth investing in next year, according to Hotspotting’s Terry Ryder. Picture: Knight Frank.

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Houses in Christies Beach were his second pick, followed by those in Elizabeth Park, Gawler, Murray Bridge, Mount Barker, Mount Gambier, Salisbury, Tea Tree Gully and Victor Harbor.

Mr Ryder said CBD units ranked highest for a range of reasons, starting with their prices.

“The median unit price in the Adelaide CBD is just $430,000, making it an extremely affordable option for investors,” he said.

“The vacancy rate has remained around 0.4 per cent for the past 12 months, as a result median asking rents for units have increased by almost 13 per cent during the same period and rental yields now sit at a very healthy 6 per cent.”

He said Murray Bridge was his top pick regionally as it was one of the state’s most consistently reliable investment locations.

“A key attraction for first-home buyers is Murray Bridge’s low median house price, which is in the mid-$300,000s,” Mr Ryder said.

Christies Beach houses are also considered solid investments. Picture: realestate.com.au

“For investors, (it’s) the low vacancy rate, which has been under 1 per cent since April 2020.

“It has a rental yield of 5.3 per cent and the median asking rent for houses increased 17 per cent in the past 12 months.”

While some areas offered better options than others, Mr Ryder said Adelaide had long been an investment hotspot because it had a consistent market, one of the nation’s strongest economies and it was much more affordable than other capital cities across the country.

“It’s important for investors to look at locations with good future infrastructure spending and job opportunities, which will lead to further demand for property and future price growth,” he said.

Real Estate Institute of South Australia chief executive Andrea Heading said it was a fair and diverse list, which meant there was a location to suit every buyer.

She said the regional areas often offered more value for money as their blocks were larger.

“It’s the lifestyle offering of them too,” she said.

Hotspotting founder Terry Ryder. Picture: Supplied.

REISA chief executive Andrea Heading. Picture: supplied.

“Christies Beach is always good buying too because it’s coastal and with the Southern Expressway, the ease of getting in and out of those areas is so much easier than it has been.”

She said there was strong demand for rentals in Elizabeth Park so properties there offered good buying, while a strong supply of Adelaide units meant they were affordable.

When it came to making a decision about where to invest, Ms Heading said it was worth speaking to the experts.

“It’s always good to have a good relationship with an agent that might specialise in a particular area,” she said.