Standing in front of a house and deciding that you can see yourself raising your family there is an exciting moment. But how do you find your next family home?
To help you with your search the People’s Choice of Housing is a new way to look at Adelaide’s most affordable and liveable suburbs.
In this list we take a look at which suburbs rank highest when we look at the most liveable, family friendly suburbs where the median house price is under $500,000.
||Median House Price
Happy Valley takes out the number one spot with a median house price of just $390,000. Located 20km from the city Happy Valley offers families an affordable entry into the market without having to compromise on the things that matter with plenty of local schools, shopping centres and parks in a semi-rural setting. You can even spy some kangaroos on the banks of the Happy Valley Reservoir located in the middle of the suburb if you’re lucky!
Images: Kangaroos at Happy Valley Reservoir, the local Happy Valley coffee shop the Gooby Goose and Calomba Crescent Reserve Happy Valley.
The list stays south with neighbouring suburb Aberfoyle Park coming in second and Hallett Cove and Sheidow Park to round out the southern presence in the Top 10.
Images (all): The Hallett Cove Conservation Park.
Moving north there is a strong representation from north-east suburbs with Hope Valley, Walkley Heights, Wynn Vale, Greenwith and Modbury North all featuring in the Top 10.
Images: Civic Park in Modbury, homes in Walkely Heights and the freshly renovated Boardwalk in Wynn Vale.
These suburbs sit between 10 and 20km from the CBD and with the newly redeveloped Tea Tree Plaza and Civic Park entertainment areas, loads of school options and plenty of parks and wetlands, the area has a lot to offer families.
The People’s Choice of Housing is a report which looks at affordable and liveable suburbs across South Australia. To arrive at affordability, we’ve made some assumptions. We have made assumptions about income, tax, living expenses, debts, interest rates, and how the banking industry will treat that information when assessing whether a household can service a loan for a property of that median price. We have also assumed a 5% deposit and estimated the costs of taking out a loan including stamp duty and registration fees. After that, it’s easy: we rank suburbs by how much is left in your pocket after paying for all your estimated living expenses including your mortgage payments. If there’s more left, that’s good news. Less? Not so good. But we also realise that it’s about more than the dollars and cents.
And what about Liveable? We rank available suburbs by taking into account a number of factors including crime rates, public transport availability, whether businesses are likely to invest in services in the suburb, whether local councils are likely to invest in the area, and how driveable a suburb is. We don’t include the professional or education mix in any suburb, the cost of council rates or insurance premiums or other post-purchase costs that are likely to vary significantly from house to house. We also don’t cover new builds – after all, who are we to know what your dream house will be? That’s up to you. You can read the full report here.
Are you in the market to buy a new home? Take a look at our buying a house journey to help you every step of the way.
This report is published by Australian Central Credit Union Limited ABN 11 087 651 125 trading as People’s Choice Credit Union of 50 Flinders Street Adelaide SA 5000 (People’s Choice Credit Union). This report is solely for general information purposes and is not to be construed as advice or recommendations. This report has been prepared without taking into account the objectives, financial situation or needs of any person who may receive this report. We recommend that you seek your own independent legal, financial or other advice before making any decisions, including whether or not to purchase a property or obtain a loan. A number of assumptions and subjective judgements are made in preparing the report. Different assumptions and judgments could result in materially different results. People’s Choice Credit Union believes the information in this report is correct and any opinions or conclusions are reasonably held or made, based on the information available at the time of its compilation. This report contains, and is based on, material provided by third parties. While such material is published with the necessary permission, People’s Choice Credit Union accepts no responsibility for the accuracy or completeness of any such material. Although we have made every reasonable effort to ensure the information is free from error, People’s Choice Credit Union does not warrant the accuracy, adequacy or completeness of the information, or otherwise endorse it in any way. Except where contrary to law, People’s Choice Credit Union intends by this notice to exclude liability for the information in this report. The information in this report is subject to change without notice and People’s Choice Credit Union is under no obligation to update the information or correct any inaccuracy which may become apparent at a later date.
Questions about the construction, publication and use of this index should be directed to Public Affairs, Communications and Planning at [email protected].