SA property: The suburbs where you risk overpaying revealed

Looking to buy a property in SA? New data has shed a light on where you can still get good value, and where you are at the greatest risk of overpaying. SuburbData’s latest Overvalued and Undervalued report has revealed the 20 suburbs where current property prices sit most noticeably below comparable neighbouring areas, and which had experienced falling prices or subdued price growth in recent years. It also revealed the suburbs where aggressive past price growth has pushed home values beyond what current local supply and demand can sustain. According to the data, among those most undervalued was North Adelaide, Beaumont and Lightsview. In North Adelaide, the typical house price is $1.1m – 21 per cent or $239,000 below its neighbours, while Beaumont houses have a typical house price of $1.7m – 21 per cent or $90,000 below its neighbours. Lightsview houses have a typical price of $905,000 – 21 per cent or $137,000. Other suburbs to have been identified as undervalued include Magill, Mansfield Park, Belair, Gilles Plains, Nairne, Flagstaff Hill and Brompton. Jeremy Sheppard of SuburbData. Supplied SuburbData analyst Jeremy Sheppard said it was a challenging time to buy real estate due...