Beach suburbs are so hot right now
Thursday, 7 January 2016
HomeStart research shows that buying a home within Adelaide’s beachside suburbs tops the wish list for homebuyers.
Glenelg, Henley Beach and Brighton were in the top five ‘dream suburbs’ for those of the respondents entering the property market. The number one ‘dream suburb’ was Glenelg, followed by Henley Beach, Adelaide, Brighton and Burnside.
It’s pretty clear that first homebuyers, like all homebuyers, are aware of the lifestyle benefits that beachside suburbs offer – there are great cafes, restaurants and retail shops, and being in the middle of a hot summer, living close to the ocean provides easy access to the beach and a relaxed lifestyle.
Glenelg, Henley Beach and Brighton are all within 15 kilometres of the city, meaning the short commute is convenient for those who work in the CBD and homeowners are in close proximity to all the city offers. There are also multiple public transport options too, with the tram from Glenelg to the city, a train line to Brighton, along with many bus routes.
But how is reality matching up to the dream? First-time buyers may find it difficult to break into these suburbs, given their popularity with homebuyers across the board.
Statistics on realestate.com.au show the median house price for Henley Beach is $669,800; Glenelg - $920,00; and Brighton - $630,000. Limited availability of land and the popularity of beachside suburbs is driving housing prices up, making it more of a challenge for first homebuyers to find properties within their price range.
People should be realistic when looking at suburbs; they might not be able to buy into their dream area when first entering into the property market, but that doesn’t mean they never will. Buying in a more affordable region close to the ‘dream suburbs’ offers similar lifestyle benefits and can enable you to establish equity that will hopefully enable you to achieve your goal later on in life.