A new report has revealed the most in-demand Adelaide suburbs for new houses, and they are nothing if not diverse.
New data analysis from realestate.com.au identified West Lakes as Adelaide’s most popular suburb for new builds, followed by Lightsview, Warradale, Somerton Park and Christies Beach.
Holden Hill, Morphetville, South Plympton, Seacombe Gardens and Park Holme rounded out the top 10.
Realestate.com.au chief economist Nerida Conisbee said an estimated 150,000 South Australians currently showed interest in house and land developments, 50 per cent of which were first homebuyers.
She said around 23 per cent also considered townhouses over stand-alone homes, and 70 per cent of buyers had a budget of up to $600,000.
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“The good thing about Adelaide is that you can still get a new house pretty close to town, which is pretty unusual when looking at other capital cities where the opposite is true,” Ms Conisbee said.
“Adelaide buyers also want to live close to the city. They want to be close to amenities – all at an affordable price.
“While suburbs in Adelaide’s east and on the city fringe will always be popular with buyers seeking character homes, the reality is that many of these suburbs now have a median well above one million.
“Not everyone can afford that so you get people looking for other options, such as building or buying a new home in one of our listed locations.”
WHY WEST LAKES
Laz Ouslinis of Ous Property Henley Beach South said he was not surprised West Lakes had toped the list with the area having undergone a major rejuvenation in recent years.
That included the launch of new housing development WEST – a project which has seen close to 300 terrace, apartment and custom homes sold since 2015, with a combined value of over $130,000 million.
“The appeal with West Lakes is that it was developed in the mid-seventies but a lot of these homes are now going down, with two new ones coming up instead,” Mr Ouslinis said.
“There has been a lot of redevelopment in the area because the market realises that people live busy lives and want homes where all the hard work has been done.
“Of course developments like WEST have also helped lift the area’s profile.”
Mr Ouslinis said new homes tended to sell within four to five weeks and generally attracted several inquiries and offers.
“They do sell pretty quickly and most of our buyers are second or third home buyers, either wanting to upsize or downsize,” he said.
“There’s also been an increase in expats buying. So that’s professional couples in their thirties looking to return to Adelaide and wanting a home near good schools and in an area they may have grown up in.
“Interestingly we don’t get too many first home buyers. In fact, that market has been relatively quiet the last few years.”
LOCATION, LOCATION, LOCATION
Master Builders of SA CEO Ian Markos said the realestate.com.au data reflected buyer interest to live close to town and the need to increase land supply for new homes.
“West Lakes has been a hive of activity since the demolition of AAMI Stadium and, assisted by the addition of land from the former Ross Smith Second School a few years ago, Lightsview has been a very popular option, too,” he said.
“There’s been a huge focus on infill but plenty of people still want a backyard for their kids to play in.
“So when you talk about factors that hurt housing affordability, inefficient land release strategies would be top of the list.”
MOST POPULAR SUBURBS FOR NEW HOUSES
1. West Lakes
4. Somerton Park
5. Christies Beach
6. Holden Hill
8. South Plympton
9. Seacombe Gardens
10. Park Holme
12. North Plympton
13. Largs North