With the median dwelling value in Adelaide at the end of February at $439,453, up just .4 per cent over the past twelve months, the real estate market in South Australia’s capital has seen relative stability compared to neighbouring markets that have experienced either large increases or decreases in market values. Sydney and Melbourne have seen twelve-month growth of 10.9% and 10.7% respectively while Darwin saw a -7.8% decrease in dwelling values and Perth a -4.0% decrease. Looking further back at the past 5 years, these figures are reflected even more strongly, with Hobart having seen the largest growth in dwelling values (45.4%) followed by Melbourne (32.5%), Sydney (24.75) and Canberra (22.7%). Adelaide comes 5th in terms of growth, with a 11% increase in dwelling values over the past five years.
This relative stability places Adelaide in a healthy position as neither in a negative/stagnant position nor in an inflated one. This might point to a strong reason to look at Adelaide as a source for investment, especially for homes under the median of $439,453. A glance at property listings under this threshold reveals a good mix of older properties in great locations that are waiting for renovations as well as homes that are waiting to be moved into.
So what are you waiting for? Check out some of our choice homes for sale in Adelaide for under $400,000 below.
It’s all about the location and potential of this beachside home south of the CBD. Nothing shouts out seachange like a reef break only 5 minutes’ walk down the road. This 3 bedroom, 2 bathroom home is expected to go for anywhere between $359,000 and $379,000, which is an absolute steal for what is a modern (2011), north-facing home that is only a 50-minute drive from the CBD. For those who are sick of city life but nor do they want to disappear beyond an achievable drive, this is a perfectly located home.
Another coastal home that is even closer to the city centre, this 4 bedroom, 2 bathroom home is bucking trends by being advertised for $395,000. It may get up to the city’s median but this isn’t for no reason. The stunning gardens and gazebo give this property the feeling like it is a holiday escape, while it is also ready to be lived in with modern appliances and fixtures.
A three-minute walk from the beach, this 3 bedroom, 2-storey home is expected to go for between $399,000 and $438,000. This is another home that is ready to be lived in already, and with additional storage, water tank, rumpus room, double garage and five schools within a 3km radius, this is begging for a deserving family to snap it up.
Opposite Flinders University, these newly constructed homes are finalists in the Master Builders Nationals. Eligible for the first home buyer’s grant, these are an ideal first home and require no work before moving in. A strong emphasis has been placed on natural light, open plan living and high ceilings in these homes, while they are only a 20-minute drive from the CBD, making them incredibly affordable options this close in.
This is for investors out there, with the property leased until November. A stunning 3 bedroom, 2 bathroom home, Woodville South is again only 20 minutes’ drive northwest of Adelaide’s CBD. This is another beautiful modern and affordable property that utilises natural light and timber to create a strong sense of levity throughout the home, right down to the smallest details like the front door’s four-panel windows that connect the front and rear of the home with the outside.
Expected to go under the hammer for between $285,000 and $309,000, this 3 bedroom home is an incredibly affordable option only 30 minutes south from the CBD and close to the beach. It has a new kitchen and updated bathroom as well as other refurbishments to make it ready to move in, while leaving room for more investment such as in the spacious back yard to generate further growth in the property’s value. A great option for first-time investors or first home buyers wanting to get their foot on the ladder.
It’s all about the location for this property. 10 minutes west of the CBD in the sought-after Mile End, this 2 bedroom home has been refurbished with such fixtures like floating floorboards to make this the ideal purchase for a young home buyer looking for something that doesn’t need much maintenance and is close to work in the CBD, or a downsizer looking for something easy to lock up.
Situated in the heart of the historic Kensington Park, just 10 minutes east of the city, this 2-bedroom modern home is a find. Timber flooring, copious natural light, ducted reverse heating and cooling, modern fixtures and appliances and all within a leafy-green and quiet neighbourhood so close to the city. An incredible find for such an affordable price.
30 minutes north of the CBD, this is a great investment for families looking for something that is both ready to be lived in but could also benefit from some longterm investment in its refurbishment. Set in a family-friendly neighbourhood, this is going to auction with an advertised price of $335,000.
This modern 3-bedroom property is only 20 minutes from Adelaide’s CBD, and is surrounded by great schools and amenities. Those looking on from Melbourne or Sydney, this sort of home that is literally a short bike ride from the CBD just doesn’t appear for a price like this and probably never will. With Adelaide’s solid longterm growth, an investment in a property like this isn’t something to pass up too quickly.
