Head South For Best Buys
Southern Times Messenger - 23rd May 2011
by Nadine Bishop
CHRISTIE Downs and Reynella are the south’s most affordable suburbs for homebuyers, latest figures show.
Real estate agents say low prices and the proximity to the beach and local shops puts the south in a strong position for first time buyers and investors.
(Picture of Taryn and Paul Allan have invested in a Port Noarlunga Unit)
Latest statistics from RP Data show Christie Downs is the most affordable suburb in the Southern Times Messenger area, with median unit prices at $209,000, based on 10 sales in the past 12 months.
Reynella came in a close second at $210,000, based on 13 sales, followed by Morphett Vale at $228,250, based on 62 sales, and Port Noarlunga, at $253,000, based on 16 sales.
Timms Real Estate sales con-sultant Jason Mills, who is based at Christies Beach, said the demand for units in the area was increasing as buyers shifted their lifestyle priorities.
“With the majority of the population over 60, they don’t have the energy to maintain the garden of a larger house,” Mr Mills said.
“And the younger generation want a low maintenance lifestyle, where they can lock up the house and go to Melbourne for the weekend. These properties provide all of that ... I wish I had 20 more of these types of properties to sell.”
Christies Beach Brock Harcourts sales manager Jayne Baily agreed.
“They do make a no-fuss investment because they are generally strata titles and they don’t have to worry abut maintaining gardens,” Ms Baily said. “Close proximity to amenities and transport represent value buying for the suburbs.”
The median sales price for units across Adelaide was $322,000, more than $100,000 more than units in Christie Downs and Reynella.
Christies Beach Century 21 sales consultant Margaret Kneebone said affordability was driving investment in the south. “Christie Downs is more price driven and a way for investors to get in the market,” Ms Kneebone said.
“But it’s close to the beach and Colonnades and it’s still affordable.
“It’s about lifestyle.”
Hallett Cove resident Taryn Allan - who bought a unit in Port Noarlunga in March as an investment - said you could not beat the south’s location.
“You’re right near Colonnades, you can walk to Christies Beach or Port Noarlunga and you also have all the wineries right nearby,” Ms Allan said.
“What’s not to love?”
Median unit prices
Christie Downs has a median unit price of $209,000 - based on 10 sales in the past 12 months
Reynella: $210,000 - based on 13 sales
Morphett Vale: $228,250 - based on 62 sales
Port Noarlunga: $253,000 - based on 16 sales
Christies Beach: $260,000 - based on 25 sales
Aldinga Beach: $281,250 - based on 16 sales
Seaford Meadows: $335,000 - based on 10 sales
*Source: RP Data. Based on sales in the past 12 months. Other suburbs had less than 10 sales and could not provide a median sale price.