This article is from the Australian Property Journal archive
MODBURY North has been deemed Adelaide’s most affordable and liveable suburb for home buyers by People’s Choice, and the aptly named Paradise the best for those hunting in the apartment market.
The new number one overall suburb moved up from seventh spot six months ago, partly due to a small decrease in the median house price to $364,500, and is well supported with schools, licensed venues and public transport. It ranks 66th for liveability across the entire metropolitan area, according to the latest edition of the People’s Choice of Housing.
“It’s the number one suburb for first home buyers and it’s also the number one in our overall ranking for the whole of greater Adelaide,” People’s Choice chief executive officer, Steve Laidlaw said.
“To have a suburb that ranks number one for affordability and liveability, that’s also accessible to people just entering the market is quite amazing.”
Laidlaw said Modbury North is followed in the rankings by two very different suburbs – Direk in the north and Aberfoyle Park in the south.
Direk scores very well thanks to exceptionally good rates for safety and unemployment, along with a median house price of $311,000, while the more expensive Aberfoyle Park “really shines for lifestyle attributes including 10 local schools and childcare centres, 10 licensed venues and a low population turnover”.
“Direk remains a surprise. As a new suburb it is still gaining data, but its low price is definitely attractive for those entering the market and its proximity to Edinburgh may appeal to those wanting ready access to jobs in that growing area,” Laidlaw said.
Lower Mitcham is the most expensive of Adelaide’s top 20 suburbs at $800,000, but benefits from an inner-south location and an outstanding annual compound growth rate of 4.12% over 10 years.
Adelaide’s top three suburbs for units – Paradise, Pasadena and Daw Park – are all newcomers in the rankings due to the availability of new market information.
“Ranked fifth overall for houses, Paradise does even better when it comes to units with a very affordable median price of $260,000 while still enjoying first-rate public transport links, a raft of local schools and a low crime rate, all less than 10km from Rundle Mall,” Laidlaw said.
“Pasadena and Daw Park are on the other side of the CBD in the south but offer a similar, attractive mix of access, services and lifestyle. Daw Park is somewhat more expensive at $315,000 which equates to about $350 a week in repayments.
“Mansfield Park, which ranked 17th with the lowest median unit price of just $140,000, would have been higher on the list apart from its relatively high rate of reported crime.”
Six suburbs in Adelaide’s north made the overall top 10, including Redwood Park, Northgate, Surrey Downs and Dermancourt.
Southern suburbs Aberfoyle Park, Lower Mitcham and Glenalta were all featured in the top 10, and Hallett Cove was on the cusp. Laidlaw said Colonel Light Gardens has also quickly come up the rankings, now at 20, and “may just provide some good options for those looking in the south.”
Lockleys was the highest ranked western suburb, at 16th, and Rostrevor the top representative for the hills at 15th.
According to the rankings, first home buyers wanting to utilise the federal government’s first home loan deposit scheme would be wise to also look at Seaford Heights in the south, helped by its very low crime rate.
“But perhaps the standout on the list is Nairne to the east which most first home buyers could easily overlook. In the Adelaide Hills, 30km from the city, it’s a thriving town with seven licensed venues, local education and childcare options and a great safety record,” Laidlaw said.
