A joint study by Aussie Home Loans and CoreLogic has revealed the most affordable suburbs across Adelaide, with eight suburbs recording median house values under $200,000.
Most of these suburbs are located across the outer northern region, with 15 of the top 20 most affordable suburbs within the Playford council area. Elizabeth North has the lowest median house value at $166,870; lower than Salisbury’s median unit value at just $187,819 – the lowest in the city.
CEO of Aussie, Mr James Symond said “There is great value in Adelaide compared with other Australian capital cities, with Wingfield houses being the most affordable of any suburb within 10km of the city at a median value of under $300,000. Meanwhile apartments are a very accessible investment, with 18 of the cheapest 20 suburbs within 10km of Adelaide’s city centre showing a median unit value under $300,000,” he added.
Mr Symond said it is worth noting that many of the most affordable suburbs in Adelaide have shown double digit growth in values over the last decade, with only slight falls in the last year.
“This shows that real estate in Adelaide is proving to be a resilient long term investment, withstanding a range of property cycles, including the current downturn impacting many other parts of the country,” he added.
“If you’re saving up to buy your first home or investment property, now’s a great time to speak with an Aussie Broker. Our report reveals some quality affordable housing in suburbs across Adelaide. Coupled with today’s record low interest rates, buying a property could be more achievable than you know.
“Aussie has also recently added Homestart Finance to our lender panel. Homestart is a specialist lender providing low deposit loan options, and other innovative lending products which help boost borrowing power, making it easier to get into a new home sooner,” added Mr Symond.
All customers who attend a free appointment with an Aussie Broker before 30 April 2019 will go in the draw to win $15,000*. To view the full Aussie/CoreLogic Most Affordable Suburbs report, visit www.aussie.com.au/mostaffordablesuburbs or contact an Aussie Broker for your free copy.
*T&Cs apply, see aussie.com.au/promotions for details.