The top 10 Adelaide suburbs for property price growth in 2022

Most of the Adelaide suburbs where house prices are going through the roof are million-dollar areas ... but one modest battlers’ suburb outstrips them all.

When people think of areas most likely to experience value growth, Adelaide’s affluent fringe suburbs would probably be their first guess.

But, perhaps surprisingly, the suburb to have experienced the greatest value increase over the past 12 months is an affordable option from Adelaide’s northern suburbs – Elizabeth South, which has a median house price of $282,500.

House prices there have increased by 56.1 per cent – up from $181,500 this time last year.

The suburb beat out the higher-priced suburbs of Erindale ($1,707,500), Kensington Park ($1,647,000), Gilberton ($1,400,000), Clarence Park ($1,185,000) and Burnside ($1,365,000) to claim top spot.

In comparison, Erindale home prices are up 55.2 per cent, ahead of Kensington Park at 53.2 per cent, Gilberton where house prices are up 53 per cent, Clarence Park which is up 52.9 per cent and Burnside, where house prices have climbed by 52 per cent.

Harcourts Sergeant head of property management Vanessa Bekker said Elizabeth South, and many of Adelaide’s other northern suburbs, had experienced good house price growth over the past 12 months and had long been seen as solid investment prospects.

“The growth is strong in Elizabeth South, but that’s coming off quite a low base as it has been undervalued for some time,” she said.

“You can get properties for quite good prices in that area and the rental returns on them are really strong – you’re probably getting a 7 per cent yield on most of them at the moment. I have been in the industry for 17 years and I’ve always said this area and its surrounding suburbs were up and coming.

“A lot of people are moving to these suburbs because, compared to other areas, you can still get a good quality home for a good price.

“We’re seeing a lot of interstate buyers investing in those areas … it’s been filtering through for years but in the past 18 months it’s picked up massively.”

Shaytana Annells and her partner Haiden Stephan are renting in Elizabeth South and would one day love to buy in the area. Picture: Dean Martin

Shantaya Annells, 22, and her partner Haiden Stephan, 25, are renting a home on Goodman Rd, Elizabeth South, and Ms Annells said she loves her area.

“I’ve been in Elizabeth South for two-and-a-half years, and Haiden has been here on-and-off for a decade,” she said.

“Everything we need is nearby – shops, parks, public transport and other handy services – and it’s got a great community feel.

“There are lots of nice people around who want to take care of their gardens, the neighbours we know are really lovely, and there are a lot of families around with children for our son Xavier to grow up with, which is important to us.

“We’re happy renting for now, but if we ever had the opportunity to buy in Elizabeth South we’d love to.”

When it comes to units, North Adelaide, on the city’s fringe, had the biggest increase for the year, with house prices up 31.7 per cent to $550,000 from $417,500. It beat out Semaphore Park, where values were up 30 per cent, Glenelg South (up 29.5 per cent), Golden Grove (up 29.4 per cent) and West Beach, which is up 27.7 per cent.