Adelaide property managers
The property market is a complicated thing. In 2022, the median price for a house has risen to $650,000 in the last quarter. That’s an increase of $50,000 from last quarter and $140,000 from the same time last year. This major rise in house prices means that the housing market is increasingly difficult to get into.
Knowing the best places to invest is essential in ensuring that your hard-earned money is not wasted. At Saunders & Co, we are the experts in all things property. With over 11 years in the industry, we know property investment. We aim to save our clients time and money, as well as to help you build your wealth. We do this through strategic planning and research, a knowledge of both tax and property, and a desire to see our clients succeed.
So where should your next investment property be located? As Adelaide property managers, we’ve put together our picks for the best upcoming Adelaide suburbs to invest in.
What to look for in an investment property according to Adelaide property managers
Location
In property investment, location is everything. It can determine anything from house and rent costs to the kind of tenant it attracts.
Central locations with access to the city, business district or universities are attractive prospects for tenants and excellent investment opportunities.
Low maintenance
No property investor or Adelaide property managers wants to spend more than necessary on their property’s upkeep. And choosing a low-maintenance house or unit has the added benefit of making the property more enticing to potential renters in the future, increasing your potential profits.
Best upcoming Adelaide suburbs to invest in
Seaford
Widely known as the ‘Gateway to the Fleurieu Peninsula,’ Onkaparinga is renowned for being Adelaide’s local tourist town. It is close to both the beach and the city, making it an ideal home for renting families.
The median house price in Seaford sits around $480,000 – considerably lower than the median value of the average Adelaide house, which sits at $750,000. Seaford has many other attractive qualities for property investors such as:
- Great schools
- Improved transport links
- Population and economic growth
Population and economic growth are important factors to consider when investing in properties as they attract renters with the funds to stay in your property long term. Seaford ticks more than a few boxes for the burgeoning investor, promising an attractive lifestyle for tenants at a price that won’t break the bank.
Salisbury
As a central location, just 15km to the CBD, Salisbury is an incredibly attractive suburb for tenants and investors alike – making this suburb one of our top picks as Adelaide property managers.
The area has also experienced some economic growth through medium to small construction projects, which have generated thousands of jobs in the area. The most notable of these, the upcoming Edinburgh Defence Project, is expected to strengthen the economy by up to $4 billion a year, creating over 11,000 jobs over the next ten years.
This activity has only done good things for the local property market. The rising rents, good yields and low vacancy rates open the door for entry-level investors. The median house price is only $390,000, making it an affordable option for those starting in the property investing business.
Salisbury is also close to several schools, with excellent public transport options directly to the CBD. This, along with its many parks, reserves and nearby recreation centre, make Salisbury an enticing opportunity for tenants and investors.
Torrens Park, Mitcham
Just 15km outside of the Adelaide CBD, Torrens Park is one of the more affluent areas surrounding the city. Built around the health and education sectors, Mitcham has been marked for a raft of updates and changes which will transform the suburb and add value.
While the median house price is currently around $1,160,000, the area is experiencing impressive growth in property value of approximately 28% in the past year, so it’s well worth the investment.
Walkerville
While Walkerville is an affluent suburb, it is still growing. Only 5km away from the CBD, the vacancy rates for this suburb are as low as 0.5%.
Walkerville features plenty of community and sporting clubs, supermarkets, restaurants and fitness centres – making this suburb an ideal location for growing families, working professionals or quiet, retired couples.
The median house price for this area is around $1.6 million, with a growth rate for the median house price of approximately 27% through the last year. This means that the chances for an impressive return on investment are high.
Semaphore
Located around 14km from the CBD, Semaphore has an average house price of around $621,000. Due to its proximity to the beach, this suburb would be perfect for tenants looking for a more coastal, laid-back environment.
This leafy suburb is an attractive option for your tenants. While relatively affordable, this suburb still boasts some healthy growth rates and rental yields, with an average rental yield of around 4% and a growth rate of 10%. These gains, while not explosive by any means, still promise a return on investment.
Prospect
Situated around 5km away from the CBD, this suburb is an excellent opportunity for anyone looking to invest in the property market. A significant investment in the area’s infrastructure has made this an attractive option for potential renters.
House prices are in the mid-range, but with an impressive median house price growth rate of around 18% and vacancy rates of as low as 0.78%. This suburb is a fantastic option if you’re looking for a robust and stable opportunity.
Known for its amazing restaurants and bars, as well as loads of beautiful character homes, Prospect is only 6km away from the CBD. This makes it perfect for those working in the city or just looking for the city lifestyle with none of the downsides.
Glenunga
Glenunga, located around 5km from the CBD, is a suburb showing some impressive growth. With easy access to cafes, pubs and restaurants, and proximity to reputed public schools and childcare facilities, Glenunga is particularly attractive to families. This suburb is a safe all-rounder, with a median house price growth rate of 26% – despite the relatively high median house price of around $1.5 million.
Want some more advice about investing in property? As Adelaide property managers, we have a passion for helping our clients to grow and build their wealth through property. Seeing our clients achieve financial freedom is what drives us every day. Contact us here to book a complimentary consultation today.