STANDOUT LOCATION:
5 City of Onkaparinga:
With home buyers and investors targeting places that offer lifestyle and affordability within striking distance of major cities, Onkaparinga is on the rise. This precinct on the southern fringe of Adelaide includes seaside suburbs and a noted wine district, with houses in the $300,000s and $400,000s.
2021 reviewed
Victor Harbor LGA: The seaside towns about 80km south of central Adelaide rose as people sought affordable lifestyle areas. Encounter Bay and Port Elliot both jumped 31%, while Victor Harbor, Hayborough and McCracken rose 16%17%. Most still have median house prices in the mid-$400,000s.
Underrated Adelaide has transitioned from being a consistent market (in 2020 it produced price growth in every month except one after the pandemic struck in February) to be one of the most upwardly mobile markets in the nation.
CoreLogic figures published in December 2021 showed that Adelaide had the second fastest house price growth (behind Brisbane) in November and in the November quarter, with annual growth rising to 24%.
This has sprung from a burgeoning economy, good control of the pandemic and excellent value for money relative to the larger cities (median dwelling price $560,000). Sales activity is elevated and vacancy rates are ultra-low across the city. There is evidence of big growth in all market sectors.
Middle-market precincts – including the LGAs of Mitcham, Marion, Port Adelaide-Enfield and Tea Tree Gully – offer quality suburbs in the $500,000s and $600,000s, sometimes lower. There is growing activity in the lower-priced northern municipalities like Salisbury and Playford, which have the cheapest houses in capital city Australia. Some of Adelaide’s largest employment nodes are in this precinct. Houses in the $200,000s and $300,000s will lure first-timers and investors. In the south, the Onkaparinga LGA has lifestyle and low prices.
In regional South Australia, the Victor Harbor area continues to rise and there are signs of buoyancy in regional centres like Murray Bridge, Mount Gambier and Port Lincoln. The Iron Triangle towns of Whyalla, Port Augusta and Port Pirie will rise in 2022, boosted by mining and renewable energy projects.