Identifying the top suburbs to invest in across Adelaide is a challenging task. Selecting the wrong suburb could lead to declining property values, high rental vacancy rates, or poor rental yields.
After meticulous research and comprehensive analysis, I’ve pinpointed the Top 10 suburbs in Adelaide for Investment in 2024, focusing on key factors that ensure strong returns. Notably, suburbs like Unley and Burnside lead the list, offering a blend of growth potential and lifestyle appeal, that makes them standout choices for savvy investors.
Continue reading below, to see what other suburbs make my top 10 list.
10. Norwood – Total Score: 75/100
Norwood is a vibrant suburb known for its blend of historic charm and modern amenities, though high property prices can be a drawback.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 6/10
- Employment Opportunities: 8/10
- Population Growth: 7/10
- Quality of Schools: 8/10
- Community and Lifestyle: 9/10
- Median House Price: 5/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 7/10
Norwood’s bustling café culture, excellent schools, and proximity to the CBD make it a highly desirable location for young professionals. The suburb has experienced a steady market growth of 5% annually over the past five years. Quality education options, such as Norwood Primary School, enhance its appeal. Norwood’s community events and festivals foster a lively and inclusive atmosphere. Public transport is reliable, with frequent bus services connecting to the city centre. The median house price in Norwood is high, but the potential for capital growth remains significant.
However, Norwood’s high property prices can be a barrier to entry for some investors. Rental yields are moderate, averaging around 3.5%. The population density can lead to traffic congestion, particularly during peak hours. Additionally, the high demand for properties has led to a competitive rental market, resulting in occasional rental vacancy fluctuations.
Median prices for Norwood, SA (5067), as of Nov 2024:
- Houses – $1,300,000
- Units – $720,000
House and unit data provided by, https://www.realestate.com.au/sa/norwood-5067/
Norwood offers a compelling investment opportunity with strong community appeal, excellent amenities, and robust market growth, though investors must be prepared for higher initial costs and potential competition in the rental market.
9. Glenelg – Total Score: 77/100
Glenelg is a picturesque coastal suburb with strong rental yields but faces challenges with seasonal tourism impacts.
Scoring Criteria:
- Market Growth: 7/10
- Rental Yield: 8/10
- Employment Opportunities: 7/10
- Population Growth: 8/10
- Quality of Schools: 7/10
- Community and Lifestyle: 9/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 8/10
- Rental Vacancy Rate: 9/10
Glenelg is famous for its beachside lifestyle, drawing both residents and tourists year-round. Its rental yields are strong, averaging around 4.2%, due to the high demand for short-term rentals and holiday accommodations. The suburb has shown a steady population growth, bolstered by its attractive lifestyle and local amenities like Jetty Road’s shopping precinct. Public transport is efficient, with the Glenelg tram providing direct access to Adelaide’s CBD. Community events and the vibrant nightlife enhance Glenelg’s appeal, particularly for young professionals seeking a balanced lifestyle.
On the downside, Glenelg’s property market can be influenced by seasonal tourism trends, leading to potential fluctuations in rental demand. Employment opportunities, while available, are often concentrated in hospitality and retail, which may not suit all professionals. The median house price, while reasonable, has seen slower growth compared to other suburbs. Additionally, the influx of tourists during peak seasons can lead to overcrowding and increased living costs.
Median prices for Glenelg, SA (5045), as of Nov 2024:
- Houses – $1,595,000
- Units – $600,000
House and unit data provided by, https://www.realestate.com.au/sa/glenelg-5045/
Glenelg presents a lucrative investment opportunity with its strong rental yields and vibrant lifestyle, though investors should consider the seasonal nature of the rental market and potential employment limitations.
8. Prospect – Total Score: 78/100
Prospect offers a blend of historic charm and modern conveniences but struggles with traffic congestion and limited green spaces.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 7/10
- Employment Opportunities: 8/10
- Population Growth: 7/10
- Quality of Schools: 8/10
- Community and Lifestyle: 8/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 8/10
Prospect has been steadily gaining popularity due to its proximity to the city, excellent schools, and vibrant cultural scene. The suburb boasts a diverse range of dining and entertainment options, enhancing its community and lifestyle score. Employment opportunities are resilient, with easy access to the CBD and local businesses. Rental yields are solid, averaging around 4%, with a relatively low vacancy rate of 1.5%. Public transport options are well-developed, offering convenient commuting solutions.
However, traffic congestion is a notable issue, particularly along major roads like Prospect Road. While the suburb has many amenities, green spaces are limited compared to other areas. Property prices have been increasing, which may deter some investors. Additionally, the density of housing developments can lead to a lack of privacy for residents.
Median prices for Prospect, SA (5082), as of Nov 2024:
- Houses – $1,205,000
- Units – $550,000
House and unit data provided by, https://www.realestate.com.au/sa/prospect-5082/
Prospect is a promising investment location with a strong community vibe and solid rental yields, despite some challenges with traffic and green space availability.
7. Mawson Lakes – Total Score: 79/100
Mawson Lakes is a modern suburb with strong employment opportunities and rental yields, but faces issues with infrastructure and public transport.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 8/10
- Employment Opportunities: 9/10
- Population Growth: 8/10
- Quality of Schools: 8/10
- Community and Lifestyle: 8/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 6/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 8/10
Mawson Lakes is a well-planned community recognized for its modern amenities and solid employment opportunities, particularly in the tech and education sectors. The suburb boasts strong rental yields, averaging around 4%, and maintains a low vacancy rate. Market growth has been steady, with a 3% annual increase over the past five years. The local schools, including Mawson Lakes School, are well-regarded, contributing to the area’s appeal. The community is lively, with numerous parks and recreational facilities that enhance the overall lifestyle.
However, infrastructure development in Mawson Lakes, has not kept pace with the population growth, leading to occasional congestion and limited public transport options. The median house price is relatively high, which may deter some investors. Additionally, while the local amenities are good, there are fewer entertainment and dining options also in Mawson Lakes, compared to other inner-city suburbs.
Median prices for Mawson Lakes, SA (5095), as of Nov 2024:
- Houses – $745,000
- Units – $467,000
House and unit data provided by, https://www.realestate.com.au/sa/mawson-lakes-5095/
Mawson Lakes offers a solid investment opportunity with strong employment prospects and rental yields, though investors should be aware of potential infrastructure challenges and higher property prices.
6. Henley Beach – Total Score: 80/100
Henley Beach combines beachfront living with good rental yields, though it faces higher property prices and seasonal fluctuations.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 7/10
- Employment Opportunities: 7/10
- Population Growth: 9/10
- Quality of Schools: 8/10
- Community and Lifestyle: 9/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 7/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 9/10
Henley Beach is renowned for its stunning coastline, making it a prime location for those seeking a seaside lifestyle. The suburb offers excellent rental yields, averaging around 4.1%, with low vacancy rates due to high demand for beachfront properties. Market growth has been steady, with a 4% annual increase over the past five years. Henley Beach Primary School is highly regarded, contributing to the suburb’s strong appeal for families. The local community is strong and has a sense of purpose, with numerous events and a welcoming atmosphere. Public transport options are above adequate, providing connections to the city.
However, the high median house prices can be a barrier for some investors in Henley Beach. The popularity of the beachside location can lead to seasonal fluctuations in rental demand, particularly in the off-peak months. Employment opportunities within Henley Beach are somewhat limited, primarily focused on retail and hospitality. Additionally, the influx of tourists during peak seasons can lead to overcrowding and higher living costs.
Median prices for Henley Beach, SA (5022), as of Nov 2024:
- Houses – $1,520,000
- Units – $670,000
House and unit data provided by, https://www.realestate.com.au/sa/henley-beach-5022/
Henley Beach offers a desirable investment opportunity with its strong rental yields and beachfront lifestyle, though investors must be prepared for higher property prices and seasonal rental variations.
5. Unley – Total Score: 81/100
Unley is a prestigious suburb with excellent schools and amenities, but faces challenges with high property prices and traffic congestion.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 6/10
- Employment Opportunities: 9/10
- Population Growth: 7/10
- Quality of Schools: 9/10
- Community and Lifestyle: 9/10
- Median House Price: 5/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 10/10
- Rental Vacancy Rate: 9/10
Unley stands out as one of Adelaide’s most sought-after suburbs, renowned for its tree-lined streets, top-tier schools, and luxury amenities. Its close proximity to the CBD and diverse local businesses create strong employment opportunities. The suburb experiences consistently low rental vacancy rates, reflecting the high demand for properties. Unley High School’s excellent reputation further attracts families to the area. The community is dynamic and welcoming, with regular events that foster a lively atmosphere. Additionally, Unley offers reliable public transport with frequent connections to the city.
However, Unley’s high property prices can be a significant barrier for investors. Rental yields are moderate, averaging around 3.2%. Traffic congestion is a notable issue, particularly during peak hours, due to the suburb’s popularity and central location. Additionally, while the population growth has been steady, it has not been as rapid as in some emerging suburbs.
Median prices for Unley, SA (5061), as of Nov 2024:
- Houses – $1,532,000
- Units – $660,000
House and unit data provided by, https://www.realestate.com.au/sa/unley-5061/
Unley offers a prestigious investment opportunity with excellent schools and amenities, though investors must be prepared for higher property prices and potential traffic congestion.
4. Burnside – Total Score: 83/100
Burnside is a prestigious suburb with excellent schools and amenities, but faces challenges with high property prices and limited rental yields.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 6/10
- Employment Opportunities: 9/10
- Population Growth: 9/10
- Quality of Schools: 9/10
- Community and Lifestyle: 9/10
- Median House Price: 5/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 10/10
- Rental Vacancy Rate: 9/10
Burnside is one of Adelaide’s most prestigious suburbs, known for its leafy streets, excellent schools, and high-end amenities. The suburb offers strong employment opportunities due to its proximity to the CBD and a range of local businesses. Rental vacancy rates are low, with a steady demand for properties. Burnside Primary School is highly regarded, enhancing the suburb’s appeal for families. The local community is vibrant, with numerous events and a welcoming atmosphere. Public transport options are effective, with frequent services to the city.
However, Burnside’s high property prices can be a significant barrier for investors. Rental yields are moderate, averaging around 3.2%. Traffic congestion is a notable issue, particularly during peak hours, due to the suburb’s popularity and central location. Additionally, while the population growth has been steady, it has not been as rapid as in some emerging suburbs.
Median prices for Burnside, SA (5066), as of Nov 2024:
- Houses – $1,628,000
- Units – $677,000
House and unit data provided by, https://www.realestate.com.au/sa/burnside-5066/
Burnside offers a prestigious investment opportunity with excellent schools and amenities, though investors must be prepared for higher property prices and potential traffic congestion.
3. West Lakes – Total Score: 84/100
West Lakes is a modern suburb with strong rental yields and employment opportunities, but faces challenges with infrastructure and public transport.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 10/10
- Employment Opportunities: 9/10
- Population Growth: 9/10
- Quality of Schools: 7/10
- Community and Lifestyle: 9/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 7/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 9/10
West Lakes is a planned community known for its modern amenities and strong employment opportunities, particularly in the tech and education sectors. The suburb offers strong rental yields, averaging around 4%, with a low vacancy rate. Market growth has been steady, with a 3% annual increase over the past five years. The local schools are good, with West Lakes Shore School being a notable example. The community is vibrant, with numerous parks and recreational facilities enhancing the lifestyle appeal.
However, infrastructure development has not kept pace in West Lakes, with the population growth, leading to occasional congestion and limited public transport options. The median house price is relatively high, which may deter some investors. Additionally, while the local amenities are good, there are fewer entertainment and dining options compared to inner-city suburbs.
Median prices for West Lakes, SA (5021), as of Nov 2024:
- Houses – $1,180,000
- Units – $640,000
House and unit data provided by, https://www.realestate.com.au/sa/west-lakes-5021/
West Lakes offers a solid investment opportunity with strong employment prospects and rental yields, though investors should be aware of potential infrastructure challenges and higher property prices.
2. Semaphore – Total Score: 85/100
Semaphore is a coastal suburb with excellent rental yields and community lifestyle, but faces challenges with seasonal fluctuations and limited employment opportunities.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 10/10
- Employment Opportunities: 7/10
- Population Growth: 9/10
- Quality of Schools: 8/10
- Community and Lifestyle: 10/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 8/10
Semaphore is a picturesque coastal suburb known for its community lifestyle and excellent rental yields, averaging around 4.5%. The suburb has experienced steady market growth, with a 4% annual increase over the past five years. The local schools are good, with Semaphore Primary School being a notable example. The community is vibrant, with numerous parks and recreational facilities enhancing the lifestyle appeal. Public transport options are efficient, providing connections to the city.
However, Semaphore’s property market can be influenced by seasonal tourism trends, leading to potential fluctuations in rental demand. Employment opportunities within the suburb are somewhat limited, primarily focused on retail and hospitality. The median house price, while reasonable, has seen slower growth compared to other suburbs. Additionally, the influx of tourists during peak seasons can lead to overcrowding and increased living costs.
Median prices for Semaphore, SA (5019), as of Nov 2024:
- Houses – $765,000
- Units – $615,000
House and unit data provided by, https://www.realestate.com.au/sa/semaphore-5019/
Semaphore offers a desirable investment opportunity with its strong rental yields and community lifestyle, though investors must be prepared for seasonal rental variations and limited employment opportunities.
1. Aberfoyle Park – Total Score: 86/100
Aberfoyle Park is a thriving suburb with strong market growth and rental yields, but faces challenges with public transport and infrastructure.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 8/10
- Employment Opportunities: 9/10
- Population Growth: 9/10
- Quality of Schools: 8/10
- Community and Lifestyle: 10/10
- Median House Price: 8/10
- Public Transport and Infrastructure: 7/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 9/10
Aberfoyle Park is a thriving suburb known for its strong market growth, averaging 5% annually over the past five years. The suburb offers excellent rental yields, averaging around 4.2%, with low vacancy rates due to high demand for properties. The local schools are highly regarded, with Aberfoyle Park High School being a notable example. The community is vibrant, with numerous parks and recreational facilities enhancing the lifestyle appeal. Public transport options are adequate, providing connections to the city.
However, infrastructure development has not kept pace with the population growth in Aberfoyle Park, leading to occasional congestion and limited public transport options. The median house price is relatively high, which may deter some investors. Additionally, while the local amenities are good, there are fewer entertainment and dining options compared to inner-city suburbs.
Median prices for Aberfoyle Park, SA (5159), as of Nov 2024:
- Houses – $730,000
- Units – n/a
House and unit data provided by, https://www.realestate.com.au/sa/aberfoyle-park-5159/
Aberfoyle Park offers a solid investment opportunity with strong market growth and rental yields, though investors should be aware of potential infrastructure challenges and higher property prices.
How I Scored Each Suburb
Market Growth
Market Growth measures the increase in property values over time. It’s important because it indicates the potential for capital appreciation, which is a key factor for investors seeking long-term gains.
- A suburb that scores a 1 would have experienced stagnant or declining property values over the past five years. An example is Elizabeth, which has seen minimal growth in property values recently.
- A suburb scoring a 10 would have shown consistent, strong growth in property values, typically above 5% annually over the past five years. An example is Walkerville, which has enjoyed robust property value increases.
Rental Yield
Rental Yield is the annual rental income expressed as a percentage of the property’s value. High rental yields are crucial for investors looking to generate regular income from their investments.
- A suburb with a rental yield of around 2% or less would score a 1. An example is Medindie, known for its low rental yield due to high property prices.
- A suburb with rental yields of 5% or higher would score a 10. An example is Pooraka, which offers high rental yields due to its affordable property prices and strong rental demand.
Employment Opportunities
Employment Opportunities measures the availability of jobs within or near the suburb. High employment opportunities attract residents and ensure a steady demand for housing.
- A suburb with limited job prospects and high unemployment rates would score a 1. An example is Davoren Park, where job opportunities are scarce.
- A suburb with abundant employment opportunities, such as those near major business hubs or industrial areas, would score a 10. An example is Bowden, which benefits from proximity to the city and new development projects.
Population Growth
Population Growth indicates the suburb’s popularity and demand for housing. A growing population suggests a thriving area with increasing housing needs.
- A suburb with a declining or stagnant population would score a 1. An example is Port Adelaide, where population growth has been slow.
- A suburb with rapid population growth due to new developments or a desirable lifestyle would score a 10. An example is Mount Barker, which has seen significant population increases.
Quality of Schools
Quality Schools attract families and increase demand for housing in the suburb. This criterion measures the availability and standard of educational institutions.
- A suburb with poorly performing schools or limited educational facilities would score a 1. An example is Smithfield, which has limited high-quality schooling options.
- A suburb with numerous top-ranked schools and educational facilities would score a 10. An example is Stonyfell, which is renowned for its excellent schools.
Community and Lifestyle
Community and Lifestyle assesses the quality of life in the suburb, including recreational facilities, cultural events, and community spirit. A vibrant community and lifestyle attract residents.
- A suburb with limited recreational facilities, few community events, and a low sense of community would score a 1, an example is Parafield Gardens.
- A suburb with a vibrant lifestyle, numerous parks, community events, and a strong sense of community would score a 10 like Kensington Gardens.
Median House Price
Median House price considers the affordability of the suburb. While high prices can indicate desirability, they can also limit investment potential due to higher entry costs.
- A suburb with very high median house prices, making it difficult for average investors to enter the market, would score a 1, an example is North Adelaide.
- A suburb with affordable median house prices that still offers good growth potential would score a 10. An example is Woodville, which provides good value for money.
Public Transport and Infrastructure
Public Transport and Infrastructure evaluates the availability and quality of public transport and infrastructure. Good transport links and infrastructure enhance a suburb’s livability and attractiveness.
- A suburb with poor public transport options and inadequate infrastructure would score a 1. An example is Andrews Farm.
- A suburb with excellent public transport options and well-developed infrastructure would score a 10, an example is Oaklands Park.
Local Amenities
Local Amenities assesses the availability of essential services and amenities, such as shopping centres, healthcare, and recreational facilities. Good local amenities increase a suburb’s desirability.
- A suburb with limited access to essential services and amenities would score a 1. An example is Hackham.
- A suburb with a wide range of amenities, including shopping centres, healthcare facilities, and recreational options, would score a 10, an example is Golden Grove.
Rental Vacancy Rate
Rental Vacancy Rate measures the availability of rental properties. A low vacancy rate indicates strong demand and stable rental income for investors.
- A suburb with a high rental vacancy rate, indicating an oversupply of rental properties, would score a 1. An example is Munno Para.
- A suburb with a low rental vacancy rate, suggesting strong demand for rental properties, would score a 10, an example is Gawler.
My Research: A Blend of Data and Local Insights
To compile these top suburbs to invest in Adelaide, I combined thorough data analysis with firsthand local insights. I began by analysing data from the Australian Bureau of Statistics (ABS) to assess demographic trends such as market growth, population trends, and employment opportunities numbers. Additionally, I consulted real estate market reports from CoreLogic and Domain, which offered detailed insights into median house prices, rental yields, and vacancy rates.
In Norwood, I spent time at The Parade, enjoying a coffee at Argo on the Parade and observing the vibrant street life. The bustling atmosphere and diverse range of shops and cafes confirmed Norwood’s appeal for young professionals. Additionally in Glenelg, I strolled along Jetty Road and dined at the Moseley Bar & Kitchen, experiencing firsthand the suburb’s lively beachside culture and its attractiveness as a rental location.
I also engaged with local residents and business owners to gain deeper insights into the community dynamics and potential investment opportunities. In Prospect, I went into the their Farmers’ Market highlighted the suburb’s strong sense of community and the ongoing development projects aimed at enhancing its appeal, the farmers market is brilliant for local produce. Other areas include competitively zone suburbs that families are sort after schools such as Norwood Primary and Aberfoyle Park High School, thus reinforcing the suburbs’ desirability.
Finally, publications like The Advertiser, online media outlets and InDaily provided valuable information on upcoming transport projects, business detail, and community events that could impact the desirability of these suburbs. Combining these insights with data-driven analysis ensured a comprehensive and relatable ranking of Adelaide’s Best Investment Suburbs for 2024.
In Conclusion
Investing in real estate requires a careful balance of data analysis and local insights. Through my thorough research and firsthand experiences, I have identified the Top Suburbs in Adelaide for Investment in 2024, that present the best opportunities for growth, they include:
- Aberfoyle Park – Total Score: 86/100
- Semaphore – Total Score: 85/100
- West Lakes – Total Score: 84/100
- Burnside – Total Score: 83/100
- Unley – Total Score: 81/100
- Henley Beach – Total Score: 80/100
- Mawson Lakes – Total Score: 79/100
- Prospect – Total Score: 78/100
- Glenelg – Total Score: 77/100
- Norwood – Total Score: 75/100
Each of these suburbs offers unique advantages, from robust market growth and rental yields to excellent schools and vibrant communities. Whether you’re looking for a beachfront lifestyle in Glenelg or a thriving community in Aberfoyle Park, there’s an investment opportunity to suit your preferences and financial goals.
Investing in the right suburb can make a significant difference in your financial returns and quality of life. However, navigating the complexities of real estate investment can be challenging. If you need help finding a suitable property or understanding the market trends, consider using a professional residential buyer’s agent. They can provide expert guidance, negotiate the best deals, and support you through every step of the investment process, ensuring you make the best decisions for your future.