The most in demand suburb for buyers in the country is Parkside in South Australia
A SOUTH Australian suburb has reclaimed its title as the most in demand in the country — according to search data from realestate.com.au. But where is it?
PARKSIDE has reclaimed its title as Australia’s favourite suburb for prospective buyers, data from realestate.com.au shows.
Ranking first on the website’s top 10 most-searched locations, the city-fringe suburb has crept from second place last quarter to sit comfortably ahead of New South Wales’ Cherrybrook and fellow Adelaide eastern suburb, Norwood.
No stranger to the top end of the list, Parkside’s ongoing popularity has become an anticipated result for Real Estate Institute of SA chief executive Greg Troughton.
“I’m not surprised to see it in the list again, it’s just one of those rock-solid suburbs, because of its prime location, blue-ribbon reputation and various infrastructures, it’s attractive to a variety of vendors,” he said.
“I think we’ll see it oscillate up and down in that list forever.”
In the past year Parkside has seen 72 house sales, with a median price of $667,500, and 53 unit sales with a median price of $462,500.
The suburb’s spot in the most-searched list indicates increased buyer interest in the area, which Realestate.com.au’s General Manager of Sales and Operations Arthur Charlaftis said presents a favourable position for future sellers.
“Top Sellers’ Markets data is derived from the supply and demand in each suburb and ranks the suburbs based on the ratio of buyer demand,” he said.
“A suburb that features in this list suggests that it could be a good time for property owners in these areas to consider selling as there are a high number of buyers searching for property in that area.”
Harris Real Estate managing director Phil Harris said the trendy suburb had attracted a cross-section of buyers and sellers over the years, a credit to its diversity and location.
“You get second home buyers buying one-bedroom flats, or expanding to start a family, to people selling $1.5 million properties, as well as a lot of young professionals looking to buy their first home,” he said.
“It’s all to do with location and variation of price.”
Mr Harris said that buying property in Parkside was a strong investment.
“Homeowners in that area can be confident that they have an asset that will continue to accumulate at above-market rates compared to other suburbs,” he said.
Virginia Beal is a Parkside resident of five years, and was initially attracted to the suburb’s location, its proximity to the city, the parklands and the shopping and dining precincts of Unley and King William Rds.
“I adore the location, I take my dog walking everyday around Victoria Park, and there are a lot of funky cafes opening in the area,” she said.
“The surrounding suburbs are a little more pricey, so Parkside is the best of both worlds — you get that great location and the same sort of lifestyle at a more affordable price.”
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