Adelaide is home to many grand character cottages and modern mansions with million-dollar price tags, but the city is renowned across the country for its affordability.
Latest realestate.com.au data shows the City of Churches has a median house price of $485,000 – cheap in comparison to Sydney’s $1 million with only Darwin and Perth recording lower medians.
So what type of home can househunters buy and where in that price range?
Real Estate Institute of South Australia president Brett Roenfeldt said affordable houses could be found in every area, it just depended what prospective buyers were looking for.
“You will find suburbs that are roughly a 20 minute drive from the CBD – north, south, east and west – that will fit that criteria,” he said.
“Obviously there will be more in that price bracket as you get a little further out from the CBD though.”
Mr Roenfeldt said suburbs that were close to major shopping centres, highly regarded schools and beaches often carried a higher price tag.
Renovated character homes or modern houses on larger blocks were also more expensive, he said.
“You’re not necessarily going to find a character cottage or something like that in that sort of price bracket – it’s more likely going to be a 1950s or 60s home,” Mr Roenfeldt said.
Here’s a look at what is available across the metropolitan area in that price range at the moment.
NORTH
127A Hampstead Road, Greenacres. Pic: realestate.com.au
127A Hampstead Road, Greenacres. Pic: realestate.com.au
There are three suburbs in the city’s north that have median house prices close to that of the state’s capital city – Vista ($480,000), Blair Athol ($482,500) and Greenacres ($483,500).
All three areas are between 20 and 30 minutes drive from the city and offer a combination of older and newer housing.
A Greenacres home at 127A Hampstead Road offers three bedrooms and two bathrooms on a 362sqm block for an asking price of $435,000.
The bedrooms are at the front end of the home with an open kitchen, living and dining area at the rear, which opens onto a grassed backyard.
Meanwhile, an older three-bedroom Blair Athol home at 6 Sylvia Street on a 485sqm parcel is listed with a $480,000 to $510,000 price guide.
Described as a renovator, it has a separate living area and kitchen, while the backyard has an entertainment area.
6 Sylvia Street, Blair Athol. Pic: realestate.com.au
6 Sylvia Street, Blair Athol. Pic: realestate.com.au
SOUTH
226 The Cove Road, Hallett Cove. Pic: realestate.com.au
226 The Cove Road, Hallett Cove. Pic: realestate.com.au
South of the city, there are also three suburbs with a median house price similar to that of metropolitan Adelaide’s.
Hallett Cove’s is the closest at $486,000, while Dover Gardens’ and McLaren Vales’ both stand at $480,000.
A three-bedroom Hallett Cove property at 226 The Cove Road, which is on a 700sqm block with ocean views, is on the market with a price guide between $465,000 to $485,000.
A crisp white palette makes it light and bright inside, while a large entertainment deck offers sweeping views of the coastline.
Further south, a modern McLaren Vale home at 6/30 Grapevine Lane is listed with a $469,000 price tag.
An open kitchen, dining and family room that flows onto a pergola area forms the heart of the home, while its three bedrooms flank one side of the house.
6/30 Grapevine Lane, McLaren Vale. Pic: realestate.com.au
6/30 Grapevine Lane, McLaren Vale. Pic: realestate.com.au
EAST
106 Shakespeare Avenue, Magill. Pic: realestate.com.au
106 Shakespeare Avenue, Magill. Pic: realestate.com.au
Trying to stick to a budget of $485,000 in the prestige eastern suburbs might be tough, but it’s possible.
While there are no suburbs in the region with a median house price in that ballpark, Mr Roenfeldt said Payneham and parts of Magill offered more affordable options.
He said they would likely be on small blocks and in need of renovating though.
A two-bedroom Magill home at 106 Shakespeare Avenue, which has been modernised inside, is listed with a price guide between $430,000 and $450,000.
Wood floors and a white palette inside give it a fresh look, while a new bathroom, split system airconditioning, security system and solar panels offer modern conveniences.
WEST
8 Formby Crescent, Port Adelaide. Pic: realestate.com.au
8 Formby Crescent, Port Adelaide. Pic: realestate.com.au
You might not be able to find a beachfront home for $485,000 but you can still get pretty close to the coast.
Port Adelaide is the only suburb in the city’s west that has a median house price on par with metropolitan Adelaide’s ($489,500).
There are currently no houses on the market in that area that are within that price range, however a three bedroom home at 8 Formby Crescent recently sold for $470,000.
On a 310sqm block, the courtyard home is close to the new Port Adelaide Plaza and Port Creek.
Mr Roenfeldt said Exeter and Grange also offered options for people looking for houses in that price range.
A two bedroom modernised character home in Exeter at 6 Charlton Street is on the market with a $440,000 to $455,000 asking price.
6 Charlton Street, Exeter. Pic: realestate.com.au
6 Charlton Street, Exeter. Pic: realestate.com.au
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