The surprising bargain suburbs close to the city
Looking to buy your first home? Here’s where you can find SA’s best buying opportunities close to the city.
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It has never been tougher to break into the property market, but new data from PropTrack shows where first homebuyers have their best chance of doing it.
The data highlights Adelaide’s most affordable inner-ring, middle-ring and outer-ring suburbs for houses and units, revealing Adelaide’s most cost-effective options within easy reach of the CBD.
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Each ring contains about the same number of properties, with the inner ring consisting of homes within 8km of the city centre, the middle ring of homes between 8km and 16km, and the outer ring of homes more than 16km away.
Of houses in Adelaide’s inner ring, Kilburn, in Adelaide’s north, represents the best option for first homebuyers, with the lowest median price of any suburb within 8km of the city, at $600,000.
It is closely followed by Lightsview, also in the north, and Ascot Park, in Adelaide’s south, with medians of $623,500 and $632,500, respectively.
LJ Hooker Prospect agent Harvey Bloomfield said Kilburn was popular with first homebuyers for a number of reasons.
“There are a huge amount of first homebuyers trying to get into the market and not wanting to be in an apartment, and they’re wanting a bit more value for money, which Kilburn offers,” he said.
“They’re still getting a decent land size, they’re getting a neat and tidy house, and they’re also getting that central location close to the city, close to the beach and close to Prospect.
“We might put one house up for sale and get 10 to 15 first homebuyers wanting to buy.”
Apprentice mechanic Alex Pitt, 25, and wife Amber, 25, who works in school administration, have recently bought in Kilburn.
They said the suburb’s location was a big drawcard.
“The area is great in that it’s central to everything we want, the block size is good, and we’re happy with what we ended up paying for it,” Mr Pitt said.
“A lot of places have gone up since then, so it’s a good thing we bought when we did rather than waiting, because who knows what it would be like now?”
For those looking to buy a bit further out from the city centre, Para Hills West, in Adelaide’s north, has the cheapest middle ring houses, at $510,000.
Those looking to live even further afield can snap up houses in Adelaide’s outer ring from as little as a $307,500 median, in Elizabeth South.
Unit and apartment buyers require less outlay, with inner-ring homes from a $319,900 median in Brooklyn Park, middle ring units from $330,000 in New Port, and outer ring units from $320,000 in Salisbury East.
Harcourts Packham managing director James Packham said Adelaide’s strong auction clearance rate, coupled with a time on market below the national average, meant buyers should expect fierce competition.
“The demand is exceeding the supply, driving offers well above asking prices,” he said.
Originally published as The surprising bargain suburbs close to the city
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