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More importantly, perhaps, tenants
outnumber outright owners, and owners
with a mortgage, in the inner southern
suburb. This isn’t typical of many of the
more upmarket inner suburbs, with 37 per
cent of all Black Forest residents opting
to pay decent rents for quality housing.
A further 30 per cent are paying off a
mortgage generally between $1800 and
$2400 a month but, reflecting the growing
wealth in Black Forest and some of the
neighbouring suburbs, 31 per cent own
their homes outright.
The practice of buying adjacent in areas
of strong demand and higher prices only
half works in Black Forest. Surrounding
suburbs to the east and northeast closer
to the city are already priced higher, with
Unley Park, Millswood, King’s Park and
Malvern generally well out of reach for
the typical investor. These suburbs are
primarily owner-occupier dwellings with
the median house price just either side of
the $1 million dollar mark.
Plympton to the west and Everard Park
to the north are gaining attention but
still within the scope of most investors
at prices in the mid to high $400,000s.
They don’t offer the same volume of
character housing but they’re undergoing
regeneration. Wayville also makes an
interesting study. Its northern boundary
along Greenhill Road borders the city’s
South Parklands, is on a shopping high
street that’s gaining momentum with
cinema, coffee shops and specialty
clothing stores and has a median house
price of just above $500,000.
Adelaide property valuer Chris Wakeham
of WBP Property says location, limited
supply and character are the main drivers
of the Black Forest market. He points
to the fact it’s just past the city fringe,
has access to the tram on the northern
boundary and rail to the south and the
North-South Link and Cross Road makes
for easy road access in all directions.
“ It also has two major shopping centres
within a kilometre, it’s eight kilometres
and a short tram ride to Glenelg and onto
the beachside suburbs and it’s adjacent
to suburbs that have experienced strong
growth, including Clarence Park and
Clarence Gardens, Everard Park and
Glandore,” he says.
“ But there’s more still that’s attracting
people to Black Forest. It’s within walking
distance of the increasingly popular
Goodwood Road precinct and a short
distance drive to the Hyde Park cafes,
restaurants and specialty stores on King
“ If you look at demand in the closer
Black Forest Data File
Black Forest has a mixed supply to demand situation. There are few rental properties
available to tenants, however there’s an oversupply of for-sale listings. Discounting is
at normal levels. Incomes in Black Forest are growing slightly slower than the South
Australia average. The proportion of renters to owner-occupiers is above average for South
Australia. Rental vacancy rates are a tight 1.9 per cent. Stock for sale levels are down by
9.8 per cent year on year.
Source: SQM Research, www.sqmresearch.com.au
APR14 APR13 MAY14 MAY13
Black Forest (H) 619.3
Black Forest (U) 259.5
Where to look: Black Forest, Unley
Park , Hyde Park, Malvern.
Where to avoid: It’s a small tightly-
held area with few areas to avoid.
Walk Score: Black Forest has a Walk
Score of 63. Some errands can be
accomplished on foot in Black Forest.
Facilities include restaurants, bars
and coffee shops.
> Character housing.
> Supply constraints.
WHERE TO LOOK
n Boom: Prices rising strongly
n Seller: Prices rising
n Neutral: No price changes
n Buyer: Prices falling
n Stressed: Prices falling strongly
PEOPLE LOOKING PER PROPERTY AVERAGES6
MEDIAN SALE PRICES: BLACK FOREST 2005-136
n Mortgage holders
LOCAL SALES IN BLACK FOREST4
PRICE BEDROOMS SALE DATE
n Separate house (474)
row or terrace house,
townhouse etc. (198)
n Flat, unit or
SA \\ THE STATES
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