Where to buy in SA for value growth

Adelaide has been identified in a new report as the Australian market with the best prospects for capital growth. Find out which 10 metro and five regional locations it highlighted as “rising stars”.

Adelaide has been identified as the Australian market with the best prospects for capital growth, in a new report by the nation’s biggest financial comparison site.

Canstar’s Rising Stars Australian Property Market Report, powered by Hotspotting, has identified Adelaide as the best place in Australia to buy for those looking for capital growth.

Of 14 markets analysed across then country, Adelaide ranked number one – up from the ninth place it was ranked in last year’s report.

It beat Brisbane, Perth, regional Queensland and regional Western Australia, which rounded out the top five, while regional South Australia was identified as the eighth best market in Australia.

Hotspotting property expert and co-producer of the Rising Stars Report, Terry Ryder, said while Adelaide had flown under the radar for many years, when comparing it to the meteoric rises and drops seen in the eastern cities, it was now well and truly in investors’ crosshairs.

“Previously regarded as a city which failed to deliver growth in its economy, population and property prices, Adelaide has been transformed by significant changes in its economy,” he said.

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“It has claimed for itself the status as the hi-tech innovation capital of Australia, with many national and international businesses based there.

“It also leads the nation in the alternative energy space and is a city of growing importance in the education and defence industries.

“Buyers have targeted Adelaide for its relative affordability, higher-than-average yields and good growth prospects.”

The top 10 suburbs singled out as rising-star suburbs were Christies Beach, Craigmore, Dover Gardens, Elizabeth Vale, Gilles Plains, Kurralta Park, Magill, Munno Para, Salisbury East and Seaford Meadows.

Jordan Colquhoun and Paige Harkness and daughters River and Bowie near the Christies Beach home they have just sold. Picture: Tom Huntley

Canstar’s editor-at-large, Effie Zahos, said Adelaide’s national appeal was obvious.

“The median house prices in all of the rising-star locations in Adelaide are half of what you would typically pay for equivalent locations in Sydney or Melbourne,” she said.

Harcourts Wine Coast agent Carly Frost, who specialises in selling along Adelaide's southern coastline, said Adelaide’s southern suburbs have plenty to offer, particularly Christies Beach and Seaford Meadows.

“The beach down there is gorgeous, it’s close to everything – the next suburb over from Christies Beach is Port Noarlunga, which has great cafes and restaurants.

“But I think the main drawcard of Christies Beach is you can get a lot for your money.

“A lot of people commute to the city and, with the southern expressway, you can be there in 37 minutes.

“The market has cooled slightly down here for your more typical homes, but if you have something special or unique, or close to the water, they’re selling for great prices and really quickly.”

Roofer Jordan Colquhoun, 34, and his dental hygienist partner Paige Harkness, 34, have just sold their 1/26 Fenton Ave, Christies Beach home through Ms Frost. Mr Colquhoun said the family were hoping to stay down south.

“We put it on the market last Thursday and it had sold by Tuesday – we had about 32 groups through our two opens,” he said.

“We’ve been looking at the market for about six months and prices are up significantly.

“I bought my house five years ago and since then it’s increased by 150 per cent.

“We have outgrown our house now, but we’ll be staying down south because we just love it here.”

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