The 10 best affordable suburbs in Adelaide 2023
Find out which suburbs in Adelaide made the top 10 list in Bright Stars: Canstar’s Best Affordable Suburbs Report powered by Hotspotting.
There are plenty of great locations in Adelaide where you can buy a home for less than $547,040. This was the cut-off price we used for our ‘Bright Star’ suburbs in the South Australian capital. (For more on why we chose this see our full report.)
Of course, price isn’t the only consideration when selecting a location to buy property. Lifestyle benefits and prospects for growth should also be on the checklist. In Canstar’s Best Affordable Suburbs Report we used five key metrics – sales volumes, price growth, vacancy rates, infrastructure and proximity to work and amenities – to identify the affordable suburbs that are desirable and likely to grow in value over time. Check out our list below.
The 10 best affordable suburbs in Adelaide
- Brahma Lodge
- Davoren Park
- Elizabeth Vale
- Evanston Gardens
- Hackham
- Morphett Vale
- Munno Para
- Reynella
- Rosewater
- Salisbury
Brahma Lodge
Demand keeps rising in the City of Salisbury in Adelaide’s north, with suburbs like Brahma Lodge targeted for affordability. The median price has risen by 24.1% in the past year. The vacancy rate is 0.2%, having been below 0.5% since early 2020, and rents rose 15% in the past year. Brahma Lodge adjoins central Salisbury, with shopping, community services and a train station.
Davoren Park
Suburbs with median house prices in the $200,000s were common in the City of Playford in the recent past. Now Davoren Park is one of the remaining few, despite 36.4% growth in the past year. Davoren Park has commuter rail, Munno Para Village shopping centre and Council Operations Centre, plus quick access to the Edinburgh defence facility and the facilities of central Elizabeth.
Elizabeth Vale
Northern Adelaide has eight suburbs with Elizabeth in the name, most of them stigmatised as downmarket. But suburbs like Elizabeth Vale offer good amenities (including Lyell McEwin Hospital and Elizabeth Vale Shopping Centre), proximity to major employment nodes and affordable housing. The suburb’s median price rose 35.3% in the past year but remains below $400,000. The vacancy rate is 0.2%.
Evanston Gardens
Gawler in the far north of Adelaide is attracting growing interest from buyers, particularly with improvements to transport links to other parts of the city. The Evanston Gardens median price grew 17.2% in the past year but is just touching $400,000. The vacancy rate is 0.2% and rents jumped 20% in the past year. This location has a commuter train station and Trinity College.
Hackham
Onkaparinga, in the south of Greater Adelaide, has surged on the ‘Exodus to Affordable Lifestyle’ trend. Hackham’s median house price rose 20.9% in the past year, with houses typically selling within three weeks. The vacancy rate, like most of the Onkaparinga LGA, is 0.2% and rents rose 17% in the past year. The Onkaparinga River National Park is part of the Hackham lifestyle.
Morphett Vale
With houses selling typically in three weeks and the median house price rising 28.3% in the past year, the Morphett Vale median is now above $500,000. The vacancy rate is just 0.2%, having been below 1% for the past five years, and rental growth has averaged 11% per year over three years. The Wilfred Taylor Reserve and Thaxted Park Golf Course mean there’s plenty of green in the local lifestyle.
Munno Para
This suburb in the City of Playford in Adelaide’s north attracts buyers for its affordability and infrastructure. It’s on the train line, there are numerous schools, plus the North Lakes Golf Course and the Munno Para Shopping City. Prices continue to rise on the back of strong sales activity. The vacancy rate is just 0.3% and growth in house rents has averaged 15% a year over the past three years.
Reynella
The southern Adelaide precinct of Reynella, Old Reynella and Reynella East benefit from access to the Southern Expressway, green spaces including Tangari Regional Park and Vines Golf Course of Reynella, multiple schools and various shopping centres. Sales activity and prices continue to rise in Reynella, with the median price growing 12.1% in the past year. Houses typically sell in three weeks. Vacancies below 1% since 2018 (currently 0.1%) mean rents have zoomed, including 12% in the past year.
Rosewater
The infrastructure and lifestyle offering in and around Port Adelaide continues to grow and nearby suburbs like Rosewater benefit. The median price rose 11.3% in the past year and the average house is selling in under a month. The vacancy rate has not been as high as 1.5% at any time in 20 years and is currently 0.1%, with rents up 15% in the past year.
Salisbury
The median house price for the suburb of Salisbury, in the City of Salisbury in Adelaide’s north, grew 21.1% in the past year. This central suburb has major infrastructure including rail links, shopping centre, TAFE campus, schools and parks. The Edinburgh defence precinct, a major jobs node, is a few kilometres north. Vacancy in Salisbury is near zero.
The best affordable suburbs in Adelaide
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Suburb | Median price | 10% Deposit | |||
---|---|---|---|---|---|
Initial outlay* | Monthly repayment+ | Repayments as a percentage of dual income^ |
|||
With FHB concession | No FHB concession | ||||
Brahma Lodge | $415,000 | $69,658 | $70,458 | $2,168 | 19.60% |
Davoren Park | $295,000 | $47,401 | $47,846 | $1,541 | 13.90% |
Elizabeth Vale | $390,000 | $65,199 | $65,952 | $2,037 | 18.40% |
Evanston Gardens | $400,000 | $66,964 | $67,736 | $2,089 | 18.90% |
Hackham | $460,000 | $77,555 | $78,442 | $2,403 | 21.70% |
Morphett Vale | $505,000 | $85,569 | $86,543 | $2,638 | 23.80% |
Munno Para | $370,000 | $61,669 | $62,383 | $1,933 | 17.50% |
Reynella | $510,000 | $86,430 | $87,414 | $2,664 | 24.10% |
Rosewater | $525,000 | $89,199 | $90,212 | $2,742 | 24.80% |
Salisbury | $460,000 | $77,555 | $78,442 | $2,403 | 21.70% |
Sources: Median price: CoreLogic as at February 2023. Initial outlay and repayment data: canstar.com.au prepared on 26 June 2023. (U) stands for units. *Initial outlay figures include the deposit, stamp duty, mortgage registration and transfer fees; and lenders’ mortgage insurance (LMI) premium. Stamp duty calculated based on an owner occupier purchase of an established dwelling. LMI premium based on Helia LMI Premium Calculator for an owner occupier borrower and a loan term of 30 years. +Monthly repayments calculated based on the average variable interest rates of 5.7% and a loan term of 30 years. Interest rates based on the average owner occupier, principal and interest variable rate for a loan of $500,000 over the past year, rounded to the nearest 0.1%. ^Percentage of income based on the average total income by Greater Capital City Statistical Area (ABS Personal Income, 2019-20), adjusted by the ABS Wage Price Index (Dec-2022) for each state. A dual income assumes two people with the average income. For estimates on initial outlay, monthly repayments and repayments as a percentage of income based on a 20% deposit see full report.
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