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Adelaide’s north-east has been identified as the home of the city’s most liveable suburbs on a budget in the first edition of the People’s Choice of Housing.

An analysis by People’s Choice of Adelaide’s suburbs has identified Modbury North as being both affordable, with its median house price of $370,000, and liveable, with an extensive bus network, reasonably close proximity to the city and multiple schools.

While similar factors are driving the appeal of other suburbs in the north-east, the first release of the People’s Choice of Housing also identified other areas that might interest first homebuyers and those on a budget, People’s Choice Chief Executive Officer Steve Laidlaw said.

“There’s no doubt that buying a home can be challenging – even with a significant deposit, registration fees, stamp duty and lender’s mortgage insurance can all add up, even before you move in,” Mr Laidlaw said.

“The new People’s Choice of Housing shows that owning your own home need not stay a dream or become a nightmare.

“While the top 25 suburbs under $384,000 – or 80% of Adelaide’s median house price – tend to be gathered in the north-east, there are others like Osborne and Taperoo in the west and Old Reynella in the south that have different drivers but still offer both affordability and liveability.

“The results show the real estate market in a different way. Of course, we can’t find your perfect home – that’s up to you – but People’s Choice can give you a better idea of where you may find it.”

For the first time, the People’s Choice of Housing looked at Adelaide’s suburbs to determine whether a couple on average incomes are likely to be able to get finance for a median-priced home, and then assessed those suburbs for their affordability and their liveability – including public transport links, driveability, crime rates, schools and other economic prospects.

The April issue of the People’s Choice of Housing will be available for download from Monday 15 April 2019.
The next edition will be released in October 2019.

BACKGROUND

The People’s Choice of Housing analyses and assesses data relating to Adelaide suburbs for their serviceability, affordability and liveability. Serviceability includes an assessment of whether a couple on ordinary incomes with average debt and expenditure levels would be likely to receive finance approval for a loan for a median-priced home in each suburb, based on standard industry assessment practices. 

Affordability looks to the amount left to a borrower after paying for mortgage payments. Liveability assesses a broad range of factors including crime rates relating to each suburb, public transport accessibility and driveability.

Suburbs without median house prices available for the report period are not available for assessment.

The People’s Choice of Housing cannot provide individual advice as financial circumstances differ, but does provide an indication of which suburbs or towns may appeal to first homebuyers.



For more information relating to the People’s Choice of Housing, its methodology and interpretation, please email housing@peopleschoicecu.com.au.

People’s Choice is one of Australia’s largest credit unions with more than 365,000 members across Australia and branches in Victoria, South Australia, Northern Territory, Australian Capital Territory and Western Australia. We have more than $10.5 billion of funds under management and advice.

"The People’s Choice of Housing shows that owning your own home need not stay a dream or become a nightmare"

- Steve Laidlaw, Chief Executive Officer

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