BSB 805 050

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BSB 805 050

Top 10 Suburbs to buy a Unit

Adelaide's most affordable and liveable suburbs.

11 Jun2019

If you’re finding it hard to break into the housing market, it could be worth considering a unit as your first home.

Unit blocks can be found in pockets all over South Australia, including within some of our most sought-after suburbs, which means you have the chance to buy your first home in a great area.

Young couple walking past a row of units

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. We can’t find your perfect home – that’s up to you – but we can give you a better idea of where you may find it.

Units for Singles

Rank Suburb Median House Price
1 Magil $295,250
2 New Port $275,000
3 Klemzig $277,000
4 Henley Beach South $250,000
5 Hectorville $312,500
6 Camden Park $255,000
7 Brooklyn Park $267,000
8 Nailsworth $286,000
9 Seaton $285,000
10 Plympton $310,000

Units for Couples

Rank Suburb Median House Price
1 Magil $295,250
2 New Port $275,000
3 Klemzig $277,000
4 Henley Beach South $250,000
5 Kingswood $387,500
6 Glenelg East $380,000
7 Kensington Gardens $393,000
8 Lightsview $334,000
9 Grange $408,500
10 Hectorville $312,500

 

Magill takes out the number one suburb for both single and couple buyers to purchase their first unit.  Home to the UniSA campus, Magill is close to the city so that you can indulge in the local cafes and eateries but far enough away so that you can enjoy leafy tree-lined streets and, with a median unit price of $292,250, unit ownership is achievable.

Long Lost Friend Cafe in Magill
A row of units in Magill

Images: Long Lost Friend Café in Magill and a row of Magill units.

If the east isn’t to your taste, you can look seaside with New Port, Henley Beach South, Seaton, Glenelg East and Grange all making it into the top 10. This shows that you don’t need to be a millionaire to live minutes from the beach.

You also don’t need to venture too far from the city when unit shopping. Klemzig, Camden Park, Brooklyn Park, Plympton and Kingswood are all under 10kms from the CBD and yet still achievable for first home buyers to get into the market.

Are you in the market for your first home? Take a look at our first home buyer journey to help you every step of the way.

 

People's Choice of Housing report

 

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

 


 

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].

Take a look at the People's Choice of Housing April 2019 full report.

Download Report 

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