SA Eastern Suburb Adelaide Review

D.T. and Corey awesome as usual, thank you

 

I was searching for something I could afford and this came up.. Dunno if it counts as east but it looks like a bargain

 

Wouldn't it be nice if you could secure it for that.

People in Greenwith would like to say they're East, but they're as North/North East as it gets.

 

Hi DT and Corey. First time in this forum and already learnt a bit about Adelaide market thanks to this thread. Kudos!

 

Check out Part 6 of the Adelaide suburb reviews here: SA - Adelaide Beachside suburbs Review

 

I see two type of markets doing well in ADL at the moment,

1. Development block. Anything that has wide frontage over 20m, or corner block, investors are willing to pay a little bit more to secure it. Campbelltown is going over 650k for some blocks!

2. Nice, established family home below $500k, even if it's small block. Almost anyone i bump into are looking for buying around this budget, which means anything over this, unless it is luxury standard, it's going to be a hard sale. But again, this doesnt mean they selling at profit, probably still flat if they bought within the last 5 years. It's just easier to sell.

Seriously, things are really slow in ADL. I wonder if it's because of lack of confidence in the state, people are afraid of borrowing money.... There're articles yesterday about prediction on the growth for next three years, putting ADL flat again until 2022....

 

Not sure which adl you're looking at but its not the same adl I'm seeing

 

I agree. Not what im seeing either. Weve been actively buying in the last 12 months and prices were moving and houses selling in the 500+ range. Anything well priced was snapped up almost immediately in our target market.

 

Yes , so they were easy sales.. doesn't mean prices have moved upwards.

 

Exactly. But I guess it's better to be optimistic

 

Would have to agree, I keep a close eye on the Salisbury market and have noticed a significant jump in new listing prices in certain pockets.

Point in case is Salisbury East, until recently 3br homes were selling sub 300 and anything above that was pretty rare. Some of the newer listings are starting to punch well and truely past that 300 barrier:

43 Douglas Road Salisbury East SA 5109 - House for Sale #125211490 - realestate.com.au

31 Northbri Avenue Salisbury East SA 5109 - House for Sale #124999974 - realestate.com.au

The same trend is also applicable to recent rental listings. Salisbury east has 3873 dwellings. there are currently 14 homes listed for rent of mixed quality. (slim pickings)

3/5 Friar Court Salisbury East SA 5109 - Villa for Rent #414060547 - realestate.com.au

650 Bridge Rd Salisbury East SA 5109 - Duplex/semi-detached for Rent #413488535 - realestate.com.au

 

Agreed... I've just returned after being away for five years, and properties in inner areas have increased about $200k or so and are selling quite well. I used to live out Semaphore way, but have added Prospect and Collinswood to areas for review and I'm wondering how to afford to live where I'd like to. Army moving a whole bunch of additional people in soon isn't going to help either.

 

It also now comprises a large section of Salisbury Heights after a recent boundary change.

 

Just an update of how these suburbs have gone over the last 3 yrs since original post was written. The stats are sourced from the same websites as the originals were and are written in the same order to make it easier to follow.

Median house prices now and change since the original post:

Norwood: $769,000 (down 11%)
Magill: $650,000 (up 10.2%)
Tranmere: $666,500 (up 1.9%)
Rostrevor: $635,000 (up 10.3%)
Bunside: $900,000 (up 14.6%)
Glenunga: $1,147,500 (up 33.6%)
Kensington Park: $959,250 (up 13.5%)
Firle: $722,500 (up 6.4%)
Beulah Park: $827,850 (up 19.9%)
Maylands: $675,000 (down 9.4%)

Median house rentals now and change since the original post:

Norwood: $455 (up 25 per week)
Magill: $425 (up 30 per week)
Tranmere: $420 (up 10 per week)
Rostrevor: $400 (up 10 per week)
Bunside: $500 (up 40 per week)
Glenunga: $520 (same still)
Kensington Park: $510 (up 20 per week)
Firle: $390 (up 40 per week)
Beulah Park: $430 (up 35 per week)
Maylands: $450 (up 50 per week).

Commentary:

Plodding along fairly well without being too exciting. Given this is the blue chip side of Adelaide and these are predominantly owner occupied areas, they don't have heaps of investor activity. Areas typically perform better when there's both types buying in the market. Still double digit growth in a few of them is nothing to sneeze at

Rents have grown pretty well and given the reduction in vacancy rates, is probably expected. This region has the lowest yields in Adelaide so can be costly to hold onto, but can still represent a good long term hold play as they'll always be desirable to live in.

 

I know this is an old thread, but hoping for some understanding of the boundaries of 'east'. On REA it seems to include inner southern suburbs like Unley, Malvern, Fullarton. Is it fair to say the area east of Goodwood road and north of Cross road is 'East Adelaide'??

 

'The man in the street' has a very nuanced and accurate view of direction in Adelaide. Streets are North South East and West, all very symmetrical and laid out . REA can't compete with that!

It might be useful to have eg. Fullarton regarded as Eastern suburbs bc of the snobby vibe that Fullarton and Eastern suburbs share (as well as high price).