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Chris and Chelsea Bellamy live in Adelaide’s North and love that their home is close to local shops and their work. Picture: Gregory Higgs
INVESTORS should look no further than Playford council region to snap up a bargain investment, according to a new report.
The “Cheapies with Prospects” report by market analyst Hotspotting identified the northern local government area as one of the top five places to invest in the nation.
The report looked at active real estate markets with growing sales activity and revealed suburbs with future potential.
Playford was fastest-growing local government area in South Australia with affordable housing, low vacancy rates and high rental yields.
The report also noted its popularity with worker as it is close to employment hubs.
Chris and Chelsea Bellamy bought a $161,000 property in Paralowie at the end of 2015.
Mr Bellamy said he loves the area as it is close to shops and his workplace.
“I like the fact that they’ve just put in a new roundabout that joins to Port Wakefield Rd,” he said.
“It’s also great that I only live about 12 minutes from work, which is near Gepps Cross, that is a massive bonus.
“There is also plenty of shops within walking distance from our house.”
Median house prices for the area range from $175,000 in Elizabeth North to $543,000 in Virginia.
Real Estate Institute of South Australia Greg Troughton said Adelaide’s north is only getting stronger with the state’s top infrastructure on offer.
“The infrastructure support for housing in Adelaide’s north is second to none in terms of public transport into the city, hospitals and schools,” Mr Troughton said.
“So while it is a reasonable way from the city, the Playford area enables residents a fantastic lifestyle and is not a bad investment at all.
“And I think the more South Australians become comfortable with using the road and rain network including public transport the tyranny of distance will disappear.”
Last month, The Advertiser also surveyed six leading real estate identities to identify the real estate hot spots of 2017.
Playford’s Munno Para was listed as one of the areas to watch, with LJ Hooker SA regional manager Rod Adcock commenting the suburb had “room for growth and excellent access”.
Originally published as Best investor: SA’s top fastest-growing area revealed