First homebuyers looking to get a foot on the property ladder in 2018, or investors looking to cash in on Adelaide’s steady growth, may turn to the northern suburbs.
Realestate.com.au has released a list of Adelaide’s Top 10 most affordable suburbs, and all of them are in the north and well below Adelaide’s median price of $446,500.
The data was calculated by tallying up the median sale price in suburbs that saw at least 10 sales leading up to the end of November 2017.
Elizabeth North is Adelaide’s most affordable suburb with a median price of $169,000.
Elizabeth dominated the list with six other suburbs (Elizabeth South, Downs, Grove, East, Park and Vale) making the top 10.
The highest of the top 10 was Elizabeth Vale, where median prices are now $235,000.
The other three suburbs (Davoren Park, Smithfield Plains and Smithfield) are all in nearby Playford.
“First homebuyers need affordability and Adelaide’s northern suburbs deliver that,” said Realestate.com.au chief economist, Nerida Conisbee.
“I know there’s a stigma attached to Elizabeth but history shows that when an area changes in demographic, areas like that will improve.”
“Having so much new development happening in the area will only be beneficial, but does mean that these northern suburbs may see a rise in median house values,” she concluded.