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North East Adelaide Property Predictions for 2018

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LOOKING to buy in Adelaide’s northeast? Area specialist real estate agents give their 2018 tips and predictions for the Campbelltown and Tea Tree Gully council areas.

 

FIRST homebuyers and young families avoiding the flooded townhouse market will drive price growth in the northeastern suburbs in 2018, local agents say.

Athelstone, Hectorville and Tranmere are among suburbs tipped for value increases this year.

Real Estate Partners principal John Capoccia said a boom in medium density homes across Campbelltown was driving buyers out to “family-oriented” fringe suburbs.

“Because of the fact we’ve got these big row dwelling and townhouse developments, people are more willing to go further out to Athelstone for the lifestyle factor,” Mr Capoccia said.

“We could also see this in certain parts of Magill, Tranmere and inner Rostrevor.”

Latest CoreLogic figures show the median house price in Magill rose 23.4 per cent to $660,000 in the three years to October 2017. Athelstone meanwhile rose 10.1 per cent to $490,000 in the same time frame.

LJ Hooker agent Jacob Lanning tipped the northwestern suburbs of the Campbelltown council area for growth.

“The location offers great amenities, and transport options,” Mr Lanning said.

“Well-kept older homes are in huge demand and we are seeing some impressive prices.”

Those suburbs included Hectorville with a median house price of $555,000, up 13.5 per cent in three years, and Tranmere, up 18.1% to $670,000.

In the Tea Tree Gully council area, Scott Thomson of Toop & Toop said suburbs such as Highbury, Golden Grove and Wynn Vale were looking strong for 2018.

“We have, and are continuing to receive, strong inquiries from buyers looking to purchase homes in all different price ranges – particularly in these suburbs,” Mr Thomson said.

“Some of the key reasons for these suburbs being strong on buyers’ radars include a diverse range of homes, block sizes and price ranges.”

He advised buyers hoping to secure a new home in Golden Grove to watch out for a 10-townhouse development starting construction in 2018.

In the inner north, Ray White real estate agent Nick Borrelli said suburbs within 10-12km of the city would continue their strong growth this year.

“Suburbs with median values around or under the $400,000 mark, I feel, will benefit the most from this as it still suits a lot of buyer types, and is a great place to enter the market,” Mr Borrelli said.
New zoning changes allowing for higher density living in Kilburn and Blair Athol were expected to shake up the real estate market in those locations.
“Expect to see a lot happening in that area over the next 12-24 months,” he said.

Athelstone couple Sandra Centofani and her husband Ashley Brown purchased and moved into a new home in Athelstone last year.

Mrs Centofanti says some of the highlights of their new spot include security, seclusion and easy access to Thorndon Park.

“It’s not only what’s in the house, it’s got to have that homely feeling … it had the feeling we were looking for,” Mrs Centofanti says.

– BY CATHERYN MCLAUCHLAN
Credit: news.com.au