City of Playford - Northern Suburbs of Adelaide, SA
The transformation of the former GMH car plant site is well under way, with the establishment of five new high-tech businesses creating 1,600 jobs and inspiring further economic confidence in South Australia’s fastest-growing LGA.
This is adding considerable impetus to this precinct, which has the state’s strongest population growth and some of the cheapest homes in capital city Australia.
The real estate market in this northern region of Adelaide is characterised by affordable housing, low vacancy rates and high rental yields. Four Playford suburbs have been named among Adelaide’s top suburbs for first-home buyers: Elizabeth, Munno Para West, Munno Para and Smithfield Plains.
Further adding to the appeal of Playford, it has the highest rental yields among the major cities. This is supported by vacancy rates below 1%.
BIS Oxford Economics has forecast that Adelaide house prices will grow the most of any capital city between now and 2021, with markets like Playford poised to benefit from the uplift.
The property market is underpinned by the region’s strong industrial sector, its status as Adelaide’s leading sector for transport and logistics, and the presence of many significant jobs nodes, including the vast Edinburgh Defence facility.
The City of Playford report includes the suburbs Andrews Farm, Blakeview, Craigmore, Davoren Park, Elizabeth Downs, Elizabeth Park, Elizabeth Vale, Hillbank, Munno Para, Munno Para West and Smithfield Plains.