Where To Buy Your First Home In Adelaide 2021
The pandemic has strongly affected our long-term investments, goals and circumstances. Amidst rising property prices and tough economic conditions buying a first home is a huge decision for many. Many people are still not sure if the goal of buying their first home is within reach and therefore do not feel ready to take that first step.
However, there is a lot of activity from first home buyers for many reasons.
According to first home buyer advocates and lending specialists, “now” is the time to invest in your dream home in Adelaide. Increasing rent, affordable rates and first home buyer grants are a few of the many reasons to take action now and buy your dream home.
In this post we give you a brief overview of popular suburbs and key stats to help you decide where to buy your first home in Adelaide.
Adelaide SA (5000): Suburb Profile Report
Adelaide Units: Annual capital growth 2.58%, median price $500,000 and weekly median advertised rent $440.
Adelaide Houses: Annual capital growth 3.11%, median price $675,000 and weekly median advertised rent $450.
Now, if you are still confused about “Where to buy your first home in Adelaide?”
Here are some key stats to help put things into perspective.
* Terry Ryder, a prominent property analyst has highlighted five local government areas (LGAs) inclined for substantial growth this year (refer to his article on news.com.au). He has chosen these locations for multiple reasons:
• Strong demand to buy & rent
• Is it an employment hub?
• Are house prices affordable?
• And proximity to facilities
First Home Buyer Alert: Keep An Eye On These Adelaide LGA Hot Spots
1. Port Adelaide Enfield
- Price range from the high $300,000 mark to the mid $600,000 mark.
- State government initiatives and Defense Force contracts are creating jobs as well as supporting the economy in the region.
- Yield ranges from between 3.5% and 5%, while the area’s vacancy rate is less than 1%.
- The house prices in Mitcham typically range from between $500,000 and $700,000. It is regarded as Adelaide’s middle-market.
- The upcoming construction of the $1.5 billion Flinders Village – an expandable education and health project will strengthen the local amenities as well as the local economy.
- Due to the proximity to crucial job nodes, including the Tonsley Innovation Centre, the Flinders Medical & Education Precinct and the Adelaide CBD, the area has recorded a low unemployment rate.
- In many of its suburbs, the median house price ranges from between $200,000 and $300,000.
- Vacancy rates are tight in most areas, under 1%, while rental yields are hovering above 6.5%.
- Business and trade opportunities are boosted with the Northern connector’s opening, linking critical freight transport infrastructure and northern Adelaide.
- The median house prices range from between $300,000 and the mid $400,000 mark. In many areas, the value is projected to increase with increased buyer demand.
- Several upcoming and ongoing construction projects in the area are creating thousands of jobs and driving the local economy forward.
- The typical vacancy rate is less than 1%, while rental yields range from between 4% and 6%.
5. Tea Tree Gully
- Many suburbs have shown consistent growth in the past year, ranging from the mid $300,000 mark to the mid $500,000 mark.
- The area is well-connected with job nodes located at nearby business parks in Mawson Lakes and Edinburg.
- The vacancy rate is less than 1%, while rental yields range from between 3% and 6%.
- The region exhibits a median house price of $375,0000, while gross rental yield is 4.99%.
- It is 31 kms away from the Adelaide CBD. Steady population growth makes Seaford an eye-catching yet affordable hot spot for first home buyers.
7. Munno Para West
- The reported median house price is $280,000, while the gross rental yield is 5.76%.
- Close to parks & outdoor spaces with plenty of shops & dining options, the area is popular amongst established couples and families.
House Price Report December 2020
Buy Your First Home In 3-Easy Steps
Have you decided on where your first home will be?
If the answer is yes, then it’s time for a quick chat – it’s as easy as 1,2,3!
Step 1: Calculate your borrowing capacity
Connect with our lending specialist and work out how much you can borrow. We will help you decide on a lender and determine which grants you qualify for.
Step 2: Pick your suburb and find a block
With a wide range of house and land packages available in popular suburbs we can help you choose the right suburb and provide you with a range of options.
Step 3: Choose your home design and builder
We will introduce you to our panel of authorised builders and help you with analysing the build contract.
Let’s talk soon!
Adelaide First Home Buyers
Ph: (08) 8263 4009
Mob: 0432 230 298