The SA areas where property values have recorded double-digit growth in the past year

Over 350 SA towns and suburbs have seen double-digit price growth growth in the past year. Is yours one of them? Search the list.

More than 350 South Australian suburbs and towns have recorded double-digit house or unit value growth in the past year, with several areas experiencing rises of over 30 per cent.

CoreLogic figures to the year ending June 30 reveal median house values in 259 met­ro­politan suburbs, and median unit values in 36, climbed more than 10 per cent during that period.

In the state’s regions, median house values in 55 locations notched 10 per cent growth or more, as did median unit values in two other towns.

Balaklava, in the Mid North, was the state’s best performer, jumping 36.5 per cent in house value growth over the 2020-21 financial year to a median of $223,369.

More than 350 SA suburbs and towns have recorded double-digit house or unit value growth in the past year, latest CoreLogic data reveals.

Calaby Real Estate agent Lisa Curnow said a mix of buyers, including investors and families, were rushing to regional areas like Balaklava.

“Covid-19 has certainly helped the regions become top of mind for people because there’s space,” she said.

“Everything is readily available here and now. With the Northern Connector, it’s really opening up the region.

“You get quite a lot of bang for your buck out here, too. It’s really, really affordable and people are seeing the value.”

Ms Curnow said the biggest difference she had noticed in the past year was the time properties were spending on the market.

What was once taking between six months and a year to sell from list to settlement date was now being snapped up in three months, she said.

After Balaklava came Meningie on Lake Albert (35.1 per cent) and Sellicks Beach in Adelaide’s far south (33.5 per cent).

Henley Beach South had the highest unit value growth at 21.7 per cent, taking its median to $355,345, while West Lakes (17.8 per cent) and West Lakes Shore (17.6 per cent) rounded out the top three.

Harcourts Wine Coast agent Shona Smart said fierce demand for coastal homes in areas outside the city but still commutable had bumped prices up in Sellicks Beach.

“There are buyers from interstate, Adelaide buyers looking for a holiday home, you’ve got your first-home buyers and expats coming from overseas as well,” she said.

“People looking for a coastal lifestyle, they love the peace and serenity of Sellicks.”

Ms Smart said she had sold a couple of properties to buyers who had not seen them in person, and many were selling much faster than normal.

CoreLogic Australia research head Eliza Owen said Adelaide had earned its reputation as a consistent perf­or­mer, with property values ris­ing in 21 of the past 24 months.

“Buyer demand has remained high, with annual sales activity tracking about 31 per cent above the five-year average in June,” she said. “While buyer demand is well above average, advertised supply remains extremely low.”

Ms Owen said about 5200 homes were for sale in June, almost 30 per cent below the five-year average and only enough for 1.8 months’ supply.

Originally published as The SA areas where property values have recorded double-digit growth in the past year