Ups and downs in hard market
and sellers. The total number of house sales across SA in the March quarter of 2011 of 4625, compared with 5739 in the March quarter of 2010, indicates confidence levels are down.
Suburbs such as Colonel Light Gardens with generally large blocks of land and character houses, are growing in popularity, notching a 20.9 per of $515,000. This reinforces the view that suburbs in the middle ring around the CBD are gaining in popularity because they are still relatively close to the city but are more affordable than the inner suburbs.
In the eastern and northeastern suburbs a similar effect appears to be happening, with Glynde experiencing a 16.86 per cent rise in median house price to $499,000, while Newton was up 28.24 per cent to $545,000.
In the west, West Croydon continues to attract buyers to the mixture of character homes, large blocks and the lifestyle attributes of the cafe and shopping strip on Elizabeth St, with the median house price up by 16.77 per cent to $550,000.
Traditional first home buyer suburbs generally had a tougher time. The median price in Aldinga Beach slipped 2.26 per cent to $325,000, Hillbank was down 2.79 per cent to $331,500 and Seaford Rise was 0.45 per cent lower at $333,500.
However, suburbs such as Blakeview, with a rise of 10.41 per cent to $339,500 over the year, bucked the trend.
CHRIS WARD CHANGES: BankSA general manager Chris Ward at College Park.