If you’re looking to buy a home in 2017, read on.
The Advertiser surveyed six leading real estate identities to identify the real estate hot spots of 2017, and their responses may surprise you.
While Adelaide’s near-city suburbs are already hotly sought after, real estate experts encouraged buyers to search for more affordable alternatives near our blue chip suburbs for SA’s best bargains.
Harcourts SA chief executive Andrew Friebe said many of our rising star’s lesser-known adjacent suburbs were yet to take off, and presented excellent buying opportunities.
“The flavour for the year will be buying in the suburbs near the up-and-comers – the ones that people don’t really know about, they’ll be the ones to watch this year,” Mr Friebe said.
“It’s about finding the suburb next to the one that’s growing but that hasn’t really got the same level of infrastructure or schooling or investment into the redevelopment of those particular suburbs, but they are coming soon and will soon offer the same standard of living.”
Some of these rising star suburbs identified by The Advertiser’s panel of experts include Greenacres, Warradale, Evandale and Underdale.
Real Estate Institute of South Australia chief executive officer Greg Troughton said South Australians were hungry for value.
“I haven’t seen people so cognisant of their money for at least six or seven years – people are very focused now more than ever on making sure they get good value for their money,” Mr Troughton said.
“I’d be encouraging South Australians to look left, right, up and down – find that blue chip suburb and then look 5 to 8km around it and look for value and make your dollar go a little bit further.”
While not rising stars, perennial favourites like Henley Beach, College Park, Prospect and Unley Park were also tipped as places to buy in 2016, driven by strong demand and consistent value growth.
“While you can’t necessarily expect double digit growth, you can almost guarantee a return on investment in our blue chip suburbs,” Mr Troughton said.
“These blue chip suburbs will always be hot because they are constantly in demand and solid performers.”
Mr Friebe tipped a strong but steady year for the SA property market.
“The year ended strongly, rents have been steady, and I think when you look at other capital cities, Adelaide is performing only just behind Sydney and Melbourne, and our combination of yield and capital growth is what makes Adelaide a great investment.
“If rates stay low. we will continue to see an increase in not only investors but the appetite of owner-occupiers as well.”
Hills hotspot Stirling was identified as a suburb to buy in 2017 and Mark and Helen Harvey, who recently moved there from Brown Hill Creek after buying through Arabella Hooper of Harris Real Estate, are not surprised.
“There’s a lot of young people up here as well as some older ones, so it’s a great mixed demographic,” Mr Harvey said.
“With a lot of expansion, there’s some really interesting places to eat and go out – Mount Lofty House has been developed and Crafers, Stirling and Uraidla have all seen a lot of change, so it’s a really interesting place.
“It’s just a fantastic environment and so close to the city.”
Andrew Friebe – Harcourts CEO
Genevieve Toop – Toop&Toop CEO of sales & marketing
Oren Klemich – Klemich managing director
Phil Harris – Harris director
Nathan Casserly – Ouwens Casserly director
Rod Adcock – LJ Hooker SA regional manager
Windsor Gardens: Back from College Park and Vale Park, it’s the next one to really take off. – AF
Modbury: The millions of dollars being invested in the O-Bahn will accelerate growth. – GT
Greenacres: It’s on the city fringe and a fast-developing area. – OK
Modbury – Great access to the CBD and close to Tea Tree Plaza. – PH
Modbury: New zoning changes around TTP will allow higher density and increase values. – NC
Munno Para: A median price of $256k with room for growth and excellent access. – RA
Aldinga: Well-serviced and offers a great affordable coastal lifestyle. – AF
Daw Park: Not as well known as its neighbour Westbourne Park, with fantastic growth potential. – GT
Aldinga: Still presents good buying opportunities. The freeway offers added appeal. – OK
Christies Beach: A coastal lifestyle in a developing area. – PH
Warradale: Close to the beach with great transport options. – NC
Christies Beach: Coastal suburb and an easy commute to the city. – RA
Firle: Will follow St Morris’ success. Great services for families. – AF
Evandale: Amazing character homes and a hidden gem in the East! – GT
Kensington Gardens: For under $400,000 you can get a nice unit in a top location. – OK
Magill: Find a townhouse or unit and enjoy the Eastern suburbs’ convenience. – PH
Kensington: Cream brick units are popular with investors, downsizers and first homeowners. – NC
Magill: Units in Magill offer strong value just 8km from the city. – RA
Hilton: Five minutes from the CBD and close to the beach and airport. – AF
Hilton: Fantastic investment area – a hotspot for renters for years to come. – GT
Thebarton: Close to the tram, the hospital and the parklands. – OK
Richmond: The inner-west is on fire at the moment and the occasional 2-bedroom home or maisonette in this price range still comes up. – PH
Woodville: Yet to experience the huge value growth as nearby Bowden and Brompton, but it will come. – NC
West Lakes Shore: Difficult to get into the unit market here but it’s a steady performer for price growth. – RA
Goolwa: Good value buying and offers a great lifestyle. – AF
Balhannah: Only 30 minutes to Adelaide CBD in a beautiful part of the Adelaide Hills. – GT
Strathalbyn: It’s a gorgeous township, less than 1 hour from the city. – OK
Mt Barker: Affordable opportunities with quality schools and shopping facilities. – PH
Mt Barker: Great schools, shopping and had recent major infrastructure investment. – NC
Bridgewater: Great Hills lifestyle but incredibly competitive in this price bracket. – RA
$400,000 to $1 million:
Prospect: Character homes on large allotments. The next affordable suburb after North Adelaide and Walkerville. – AF
Prospect: Favourite with both investors and first home buyers looking to upsize. – GT
Broadview: Fast-developing area with loads of potential for further development. – OK
St Peters: Character homes with proximity to CBD, Norwood and North Adelaide. – PH
Golden Grove: Great family value with affordable homes on 800sqm blocks. – NC
Rostrevor: Inner-north with median price of $588k and room for growth, with great facilities around. – RA
Unley: 1km from the city – people fight to get into every segment of the market here. – AF
Goodwood: Under 3km to the city, has great transport and a vibe many suburbs are envious of. – GT
Port Willunga: The beach house market is finally starting to move after 8 years of inactivity. – OK
St Marys: Lots of development within the area with proximity to Flinders University & Medical Centre. – PH
McLaren Vale/Willunga: Great wine regions and coastline 45 minutes from the CBD – NC
Brighton: A beachside suburb with easy transport to town. – RA
Norwood: A mix of different density housing and offers both great yield and capital growth. – AF
Norwood: As popular as ever with all segments of the buyer and renter market. – GT
Hazelwood Park: With Glenunga High and Linden Park Primary so close, it’s set for spectacular growth. – OK
Stonyfell: Still good value in the heart of the Eastern suburbs. – PH
Glenside: A masterplanned community on the doorstep of the city to be released in mid-2017. – NC
Kensington Gardens: Great schooling and shopping near town. Larger land sizes make subdivision attractive. – RA
Lockleys: Quality homes in a private suburb with a community feel between the beach and city. – AF
Mile End: Large character homes on big blocks. Close to the new RAH and the city. – GT
Mile End: Lovely turn-of-the-century architecture close to town. Currently doing what Norwood did 20 years ago. – OK
Warradale: Glengowrie exploded in price over the last few years. Warradale will do the same. – PH
Underdale & Fulham/Fulham Gardens: Changes of zoning are allowing subdivision on smaller land holdings. – NC
Richmond: Affordable and close to the city and airport with redevelopment options. – RA
Tanunda: The Barossa is the best-kept secret and offers a lifestyle like nowhere else. – AF
Aldgate: A beautiful part of the Adelaide Hills offering large homes on huge land sizes. – GT
Mylor: Lovely homes on acreage on offer for under $1 million. – OK
Aldgate: With Stirling prices becoming unaffordable for some, Aldgate is the next best option. – PH
Bridgewater: Demand continues to grow for more affordable properties and there are some gems in Bridgewater. – NC
Stirling: Always a solid growth area for ‘tree lovers’ but only 15 minutes to town. – RA
North Adelaide: Close to the city, great amenities and strong demand. – AF
North Adelaide: A suburb many people aspire to live in, North Adelaide has it all. – GT
Medindie: Will forever be highly sought-after, beautifully separated from North Adelaide by parklands. – OK
Medindie: Continues to be one of Adelaide’s most expensive suburbs. – PH
Upper Hermitage: Large homesteads on acreage with spectacular views, just mins to Tea Tree Plaza. – NC
Walkerville: City convenience and grand homes make this one of Adelaide’s most desirable suburbs. – RA
Unley Park: Always high demand for Unley Park’s character homes on large allotments. – AF
Unley Park: One of Adelaide’s most prestigious suburbs. Many of these beautiful character homes have been immaculately renovated. – GT
Unley Park: City fringe turn-of-the-century architecture at its best. – OK
Unley Park: Always an oversupply of buyers and limited stock. – PH
Aldinga beachfront: Great for weekend getaways and retirement options 45 minutes to CBD. – NC
Millswood: Popular suburb with character homes and great school options. – RA
College Park: Home to some of the state’s best-quality homes, close to the city and great schools. – AF
Toorak Gardens: – Transforming into the most sought-after location for the executive family market. – GT
St Georges: Many affordable land-only opportunities, close to great schools. – OK
Rose Park: On the doorstep of Victoria Park racecourse, it continues to have strong capital growth. – PH
Unley: Character homes are still the most sought-after properties for Adelaide buyers. – NC
Toorak Gardens: Arguably the most prestigious and the “best of the best” in the East. – RA
Henley Beach: The Henley Square redevelopment has only increased demand for the area. – AF
Henley Beach: Henley Square has just been refurbished and is quickly becoming the place to be. – GT
Henley Beach: Still more affordable than some esplanade areas, a gorgeous beach and 20 mins from town. – OK
Henley Beach: Had a strong year in 2016 and I expect demand to continue for high-quality coastal homes. – PH
West Beach, Henley Beach, Grange and Tennyson: These beaches attract interstate and overseas buyers as the lifestyle in Adelaide is so affordable. – NC
Henley Beach: Anything Esplanade or close to beach will always attract strong interest. – RA
Stirling: Sensational lifestyle just 15 minutes from the city. The Main Street redevelopment has made a massive change to the area. – AF
Stirling: The Dress Circle is tightly held and one of the most popular top end areas of the Adelaide Hills. – GT
Stirling/Crafers: Plenty of spectacular old Adelaide summer houses representing sensational value still. – OK
Stirling: It offers a country lifestyle with proximity to the CBD. – PH
Crafers: – Great lifestyle properties providing a combination of rural and cosmopolitan living. – NC
Victor Harbor: Great for city dwellers who don’t mind the hour commute and not too far for a weekend getaway. – RA
Nailsworth: Next to Prospect, a great opportunity and home to good blocks ripe for redevelopment. – AF
Enfield: The right property in this suburb will be positively geared. Within 10km of the Adelaide CBD, this suburb sits in the next band of property likely to take off. – GT
Windsor Gardens: Heavily underdeveloped still offering large allotments within proximity of city and transport. – OK
Edwardstown: Currently undergoing a transformation and seeing plenty of development. Incredible proximity to the city and beach. – PH
Birkenhead: As the Port improves its commercial offering and correct development begins, there should be good potential value growth for Birkenhead. – NC
Port Adelaide: It’s undergoing redevelopment and the commercial hub has received a vibrant injection. It’s minutes to Semaphore beach and straight up Port Road to town. – RA