Where you should have bought property five years ago

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PHOTO: Emma Jeffs with her sons Patrick, 3, and Jack, 1, outside their Largs Bay home. Picture: Emma Brasier Source: News Corp Australia

If you bought a house or unit in one of these Adelaide suburbs five years ago, you could make a hefty profit if you decided to sell up now.

Homeowners who bought property in some Adelaide suburbs five years ago could make a hefty profit if they decided to sell up now.

Latest realestate.com.au figures to the end of March reveal the suburbs where house and unit prices have surged over the past five years – some as high as 58 per cent.

Those who owned a house in Glenelg South and a unit in Semaphore Park were best positioned to reap the rewards, with both recording 58.6 and 57.1 per cent price growth respectively.

They are significant increases in comparison to the 18.6 per cent rise in metropolitan Adelaide’s median house price and the 6.3 per cent jump in its median unit price during the same period.

Fullarton and Tusmore ranked second and third for houses, while Campbelltown and Kent Town rounded out the top three for units.

Allan Real Estate director Brad Allan said several multimillion-dollar sales recently likely influenced Glenelg South’s median house price, which sat at $1.285 million.

However, he said increasing demand for property in the small suburb was bumping prices up, particularly over the past few months.

“It’s really just due to the popular location,” he said.

“It’s that bit quieter (than Glenelg) and obviously we’ve got a huge demand to be beachfront.

“A lot of people we’ve been selling for are moving within the suburb as well.”