The prices of the Australian housing market have been booming for quite some time now, with no signs of slowing down.
The housing boom has been so significant that builders are fighting for timber as the suppliers cannot keep up with the demand since the homeowner building grants being introduced.
With the demand for housing rising since the beginning of the pandemic, property prices have been increasing at record breaking rates.
Suburbs with lower housing prices
The list of South Australian suburbs with lower housing prices are as follows:
- Para Hills West
- Bedford Park
- Everard Park
Why they are less expensive
New housing trends have emerged in the past year due to the lockdowns which were in place due to the spread of COVID-19.
What was once viewed as convenient and suitable in the housing market quickly changed once the statewide lockdowns occurred.
Many people who underwent lockdowns in highly populated areas experienced the pain of being stuck in a small home with minimal backyard.
It is because of this the demand for outer-suburb housing with larger spaces and backyards are now peaking, with housing prices increasing at record breaking rates.
As for the inner-city suburbs, the demand has not increased with many looking to relocate away from the cities.
With less demand for inner-city and high-urban density housing, the housing market in the city and its inner suburbs is becoming more affordable with lower prices than outer-suburbs.
Who are we?
Finance Mutual Australia is a market leading South Australian mortgage broker. It is our promise to walk you through the process of finding a home loan and do all the leg work, comparing the vast number of lenders and products in the market to find the loan best suited to meet your financial requirements.
How we can help
It doesn’t matter if you’ve just started thinking about buying, have already found the perfect house and want to quickly sort out your finance, are looking to unlock the equity in your current property, or are wanting to find out if there’s a better borrowing option than the one you currently have – any time is a good time to explore your options.
We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to contact us.