What your suburb is worth: PropTrack data reveals your suburb’s true value

SA’s property market has experienced some solid growth over the past 12 months. Find out what your suburb is worth in this interactive tool, which contains data for 489 SA suburbs and towns.

A huge number of SA’s suburbs saw value growth over the past year. Picture: NCA NewsWire /Brenton Edwards

SA’s West Coast is leading the charge for 12-month home value growth, new data shows, with three of the top 10 suburbs found on the Eyre Peninsula and the other seven all being found in regional areas.

According to PropTrack’s latest quarterly home value report, the coastal town of Cowell recorded the greatest house value increase of 64.52 per cent over the past year, bringing its median value to $291,018.

Streaky Bay came in fourth place with an increase of 55.83 per cent, taking its median value to $364,966, and Cleve houses now sit at $244,293 – up 43.44 per cent.

Lucindale in the state’s South-East came in second with an increase of 63.27 per cent on this time last year, while on the Yorke Peninsula Point Turton house values increased by 57.38 per cent to claim third spot.

Elders Real Estate Cleve/Cowell sales consultant Phil Cook said the Eyre Peninsula market had performed strongly.

“We’re selling properties all the time, as soon as we’d list them we’d sell them,” he said.

“We sell in Cleve, Arno Bay, Cowell and Port Neill and we’ve basically sold everything we’ve listed.”

Mr Cook said Covid had fuelled the market in these areas, with most properties being bought by people looking to use them as their own private holiday properties.

“A lot of rental properties have been sold because of the market, and it forced those that were renting to buy their own property because they couldn’t get a rental,” he said.

Harmella, Jasmine, Jay, Kaiden and Patrick Stening at the Cowell Jetty. Cowell has seen some solid value growth over the past 12 months. Picture: SS Photography

Lifelong resident and Cowell business owner Jay Stening, 33, bought a home in Cowell 10 years ago but has lived there his whole life. He has seen a lot of change in recent history.

“There are a lot of out-of-towners buying up in our country areas trying to get away from the rat race and there are more people around and more businesses growing,” he said.

“Hearing that house values have gone up is great news.”

Of the 489 suburbs PropTrack analysed values of – with some of these suburbs counted twice as they have at least 500 of both houses and units – 110 have experienced value growths of more than 25 per cent over the past year.

According to the data, regional SA home values increased by 20.39 per cent over the past 12 months, while metropolitan Adelaide homes are up 23.39 per cent to a median value of $634,000.

Adelaide house values were up 24.98 per cent to $682,000, while unit values climbed 9.26 per cent to $475,000.

Glenelg was the state’s top metropolitan performer, up 38.32 per cent to a $1.365m median.

The data uses PropTrack’s automated valuation model, which considers all houses and units in a suburb to reach a median value. It excludes markets with less than 500 observed estimates of property values.

Cameron Kusher, PropTrack Director of Economic Research

PropTrack Director of Economic Research Cameron Kusher said SA had also performed strongly over the past quarter.

“SA is a bit of an outlier in that 53 of the 72 (73.6 per cent) suburbs listed with a median value above $1 million have recorded an increase in value over the quarter compared to 64.8 per cent across the whole market,” he said.

“This indicates that unlike other states, the premium market has maintained its strength over the past quarter.”

- Presented in partnership with PropTrack

Originally published as What your suburb is worth: PropTrack data reveals your suburb’s true value