In South Australia the median house price is $410,000. With this in mind you can find a large variety of properties to purchase in some Northern and Southern suburbs from as little as $200,000 all the way upwards of $1,000,000 in the Eastern and Hillside suburbs.
If you are in the market for purchasing a property and you are wanting to find one which falls into the $500,000 to $750,000 price bracket range, the suburbs to check out are: Broadview, Prospect, Marden, Magill, Norwood, Torrensville, One Tree Hill and Virginia. These suburbs are within close range of the CBD minus One Tree Hill and Virginia, of which will give you that feeling of country lifestyle without being all that far away from all the important places and city life style. There are a good variety of schools in each of the areas with recently established schools including a range of kindergartens, primary and high schools and not to mention high levels of education campuses only within a short commute. To get around these suburbs and to main attractions it is ultimately best to drive or utilise public transport services with the bus and train services running regularly.
All of which have access food venues, shopping centres, sporting grounds, playgrounds and parks for the kids making getting out and about from the house a breeze. A bonus about living within these suburbs is in reality you are not all that far from the CBD with access to main roads and highways shaving your travel time and train stations close by making commuting to and from the city a breeze or even between suburbs that will allow you to bypass the peak hour traffic commuters. For the likes of One Tree Hill and Virginia residents at the most you are only a maximum of 35-40 minute drive away from the city depending on your location especially being close to main roads.
The majority of these suburbs mentioned appeal to the owner occupied market, they are older style character homes some with ongoing upkeep issues and with generally larger land sizes, unless the property has recently been constructed then you will generally have something smaller but modern. If you are looking to make the absolute most of your investment choice it will be best to look for places where rental demand is high, such as close to public transport, lifestyle areas, and close access to schools, parks, cafes and retail shops. If in doubt it is always worth your time to research by talking with a number of local real estate agents in the respective areas to see what they say. After talking to a number of agents you will start to get a feel and see a trend in what they are saying giving you a clear idea of what the areas have to offer. The next step if you haven’t already done so will be to both work out with a broker your price range and then try to find something within that that ticks the boxes.
There is some appeal to the rental market at this price point, however in Magill the median house price is $665,000 with a median rental of $400 per week so you may sit back and think twice about making a purchase as an investment but on the other hand know it will make a great place to call home for yourself.
If you would like a free review of your situation and would like to know information regarding the mentioned suburbs or any other suburb for that matter, please don’t hesitate to get in touch with your mortgage broker Gerry today and he can provide you with complimentary suburb/property reports which he can talk further about should there be any questions/queries you may have.
Information above regarding median house prices courtesy of www.realestate.com.au