66 Willison Road, Elizabeth South is Adelaide’s cheapest house on the market, according to realestaste.com.au.

IF you’re looking to crack the South Australian housing market on a budget than this three-bedroom renovator for just $160 a week is worth consideration.

Set on a sizeable allotment, 66 Willison Rd in Elizabeth South is Adelaide’s cheapest listing on realestate.com.au with an asking sale price of $142,000 to $147,000. That’s approximately $72,000 lower than the suburb’s median sale price and $297,000 lower than the Adelaide average.

Best of all, the property — based on a 20 per cent deposit — could potentially cost you just $160 a week in mortgage repayments.

66 Willison Road, Elizabeth South is Adelaide’s cheapest house on the market according to realestaste.com.au

With the suburb earmarked for a major development overhaul in the next 10 years, listing agent Leonardo Cuzman from LJ Hooker Craigmore/Elizabeth said there had never been a better time to invest.

“It’s definitely a bargain and a very attractive buy for any investor or first homeowner,” he said.

“In my opinion, all this home really needs is a fresh coat of paint and a clean up of the backyard as some of the foliage needs cutting back.

66 Willison Road, Elizabeth South is Adelaide’s cheapest house on the market according to realestaste.com.au

“But besides that the home is in a great condition. It has security screens on most windows, airconditioning throughout and is also fully fenced.

“It really just needs a good paint and bit of love.”

66 Willison Road, Elizabeth South is Adelaide’s cheapest house on the market according to realestaste.com.au

Mr Cuzman said the suburb had seen an increase in renovation-inspired investors looking to capitalise on the suburb’s affordable housing market.

“Elizabeth South, especially Willison Rd, is becoming increasingly popular with many properties only minutes from a major shopping precinct which has a cinema and a great number of restaurants,” he said.

“This is important because, as a whole, Elizabeth will be undergoing some major development over the next 10 years, which will see the suburb turned into a second town centre for Adelaide.”

Here are some other bargain properties to consider on Adelaide’s north, east, south and west, which may be considered cheap for their area.

NORTH

57 Woodyates Avenue, Salisbury North

This three-bedroom home in Salisbury North has investment potential and will only cost you between $179,000 and $199,000.

Located at 57 Woodyates Ave, the home is well presented with polished wooden floors and neutral coloured walls. There are three bedrooms, an updated kitchen and dining area, air conditioning to lounge room and a large rear yard.

With the suburb recording a 4.9 per cent jump in median house prices, this home is priced well below the suburb’s average of $264,250.

EAST

18 Springfield Avenue, Athelstone

With a garage, backyard and many other desirable features, 18 Springfield Ave, Athelstone is one of the cheapest Adelaide’s east side has on offer.

Priced between $450,000 and $490,000, this property is below the suburb’s median house price of $495,000.

The home features three bedrooms, one bathroom and a huge four car garage with its own pit.

Set on a generous 686sqm block, the property is located only a short walk to major amenities and Linear Park.

SOUTH

1-42 Glenthorn Crescent O’Halloran Hill

Beautifully presented, 1-42 Glenthorn Cres, O’Halloran Hill could please first home buyers, investors looking for a low hassle rental property or even retirees looking to downsize from a traditional size block. Listed for sale between $295,000 and $320,000, the home features two generous sized bedrooms, a spacious lounge with new carpets and an Adelaide must — split system heating and cooling.

WEST

201 Hart Street, Glanville

If an affordable cottage is one your property bucket list than this Glanville bargain at 201 Hart St may be what you are after.

The two-bedroom home is listed for sale between $290,000 to $319,000. The suburb median house price, meanwhile jumped by 18.5 per cent to $440,000 between May 1, 2016 and April 30, 2017.

Key features include a charming loungeroom with in-build fire place, an alfresco area for outdoor entertaining and a rear lawn area with garden shed.