Regional hotspots to build your own home
29 April 2016
Good news for home buyers looking to buy in regional SA: the Murray Lands and Yorke Peninsula were recently announced in the top five least expensive regional markets in Australia!
These hotspots are emerging as leading choices for home buyers, and especially graduates, in a trend being driven by the cheaper land on offer.
What does it cost?
Recent data from the Housing Institute of Australia (HIA) ranks the Murray Lands as the fourth least expensive regional market for land in Australia, with the Yorke Peninsula and Lower North coming just behind in fifth spot.
Median lot price in the Murray Lands and Murray Bridge: $84,000
Median lot price in Lower North: $88,750
HomeStart’s lending in the Southern Eastern region (including Murray Bridge) has almost doubled in the last five years, with 58 approvals in 2015. And the same thing is happening in the Lower North (Yorke Peninsula), with the number of HomeStart home loans increasing by more than 200% over the last four years.
On top of the attractive low-costs to buy land in these areas, there are plenty of things happening in the Murray Lands and Yorke Peninsula that are helping drive people to buy homes in these regions.
In the Mid-Murray and Murray Bridge region, there are a number of housing developments, including Meningie Waters and Murray Bridge Pathways, which provide house and land packages that offer an affordable pathway into home ownership.
And in the Yorke Peninsula, both home buyers who are looking to raise their family, and retirees, are attracted to the Yorke Peninsula’s community feel and relaxed lifestyle.
Recent findings from Roy Morgan have also revealed 59.1 per cent of South Australians spent their last holiday within the state, and 9.4 per cent have visited Yorke Peninsula – making it the state’s most popular holiday destination for intrastate travel!
Perhaps best of all, is that the Murray Lands and Lower North are within a couple of hours drive from Adelaide!