North Adelaide is a park-based suburb, located 2km north of the Adelaide city centre. It has a cosmopolitan vibe, with nice bars, restaurants and cafes and houses a lot of students due to its close proximity to the University of Adelaide.
The suburb is extremely central, with excellent infrastructure and public transport, as well as being a short distance to the City of Adelaide golf course and Victoria Park race course.
Renowned schools are also nearby, including St Peters for boys and similar institutions for girls.
North Adelaide is close to major hospitals and other medical facilities, meaning many of the residents are doctors or surgeons. The houses are mostly period homes, many of which are heritage listed. There are virtually no opportunities to buy and build in the best areas, unless you are more into units.
Greg Ennis from Ennis Partners has been selling in the suburb for 30 years. He believes surrounding parklands create a unique feel for residents.
“When Colonel light designed Adelaide, there was the city square, then some higher ground above the Torrens River for residential purposes. That’s North Adelaide,” Ennis says. “It’s very unusual. It’s a village. Being surrounded by parks promotes a different lifestyle and has a different flavour than if you were surrounded by other suburbs.”
Facilities within the parklands include golf courses, walking and cycling tracks and a swimming centre, in contrast to near-rural fields for horse riding and areas of bushland brimming with wildlife.
The best streets are those with a park outlook, such as Kingston terrace, Brougham Place, Palmer Place and Mills Terrace. Stanley Street is a block back from the park, but is leafy and contains hotels.
North Adelaide had the most buying activity of the 10 prime suburbs, with 36 houses sold over the past 12 months. The houses spent around two months on the market and were discounted by 9%. Despite its great location it only ranks eighth highest for median price in South Australia. Ennis says houses will average around $1 million, but units can be bought for as little as $350,000. In some cases, houses can sell for up to $7 million, so property costing $1 million is a decent buy in a climate conducive to further growth.