News Corp Australia
First published 3 Feb 2026, 5:00am
The adage that property prices should double every 10 years has nothing on a rundown former Housing Trust duplex that is set to quadruple in value over the same period.
The listing of the 1950s Elizabeth South duplex at 85-87 Hogarth Rd has sent developers into a frenzy, with at least six offers received in the first week of the property hitting the market.
Selling agent Roy Laird, of Harcourts Playford, said the property was for sale with a price guide of $1.05m – more than four times that paid when the owner bought it from the SA Housing Trust for just $260,000 in 2016, property records show.
The 1220sqm property comprises two three-bedroom maisonettes that are rented for a total of $900 a week, or $46,800 a year.
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85 – 87 Hogarth Rd, Elizabeth South.
85 – 87 Hogarth Rd, Elizabeth South.
85 – 87 Hogarth Rd, Elizabeth South.
But despite the lucrative earnings, Mr Laird said all inquires had come from developers seeking to demolish the semi-detached dwellings when the current leases expired in February next year.
“Both properties (houses) need a bit of work so … it would basically (be sold to someone who would arrange for them to) be knocked down,’’ Mr Laird said.
“It all depends on council regulations but (the site, if redeveloped,) could suit six units, or you could do townhouses.
“It could be community-title with a common driveway through the middle and then the houses on the side.’’
Mr Laird said a mix of local and interstate developers had shown interest in the property, buoyed by its proximity to schools, shops, medical facilities and public transport and its lack of easements.
He said the relative affordability of the northern suburbs, compared to inner-city locations, was also appealing.
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85 – 87 Hogarth Rd, Elizabeth South.
85 – 87 Hogarth Rd, Elizabeth South.
85 – 87 Hogarth Rd, Elizabeth South.
While Elizabeth South and neighbouring suburbs, including Davoren Park, had suffered a poor reputation in the past, Mr Laird said buyers were now recognising the area’s potential.
“There’s a genuine feeling that the area is on the improve,’’ he said.
“People are starting to think, ‘OK, there’s a future here’.
“You can go down most streets and there’s been a lot of knockdowns and there’s a lot of nice new homes now.
“There’s massive demand (for northern suburbs properties).
“The north still has one of the best price points in the state so it’s relatively affordable and people can pick something up for a lower price point (than they can elsewhere).’’
Expressions of interest for the property close at 11am on February 9, unless sold prior.
The median price for Elizabeth South homes has jumped 10.6 per cent in the past 12 months, to $528,500, latest PropTrack data shows, which is still well below the overall median house price in Adelaide of $996,000.
– by Lauren Ahwan
English (US) · 